Greedflation: corporate profiteering ‘significantly’ boosted global prices

[blackpowder]

He believes better is possible and so do I. The difference is he denies theories that are essentially irrefutable.

[AlbertaFarmer5]

It would be an interesting social experiment to reset the game and observe the outcomes.
On some random date, Put everyone's game piece back on start, return all of the cash and properties and houses and hotels to the bank, forgive all debts. Give everyone their equal $1,500 in cash.
How many years would it take before the game board looks exactly the same as it did before the reset?
My guess, within weeks, 99% of the bottom tier will be back to abject poverty. The self-made millionaires from the first time around, will be millionaires again within a couple of years.
The silver spoon types will take a bit longer, and never achieve the same degree of wealth.
There are bound to be a few exceptional cases of smart, talented highly ambitious people who were losing in the previous game due to unfortunate circumstances, who will take advantage of the fresh start to leap ahead of everyone else. And the opposite would most definitely happen.
As compared to every other failed wealth redistribution scheme which has been attempted so far, this might just be the least worst.

[AlbertaFarmer5]

In case it isn't obvious, I am a big fan of monopoly. I was unbeatable when I was a kid. Started playing with my own kids when they were quite young. They beat me every time now.

[blackpowder]

BP, you still haven't answered the question below.

If the system is so successful at benefiting everyone, why do a large percentage of the worlds population, including a significant number of Canadians, live in poverty?

And its extremely naive to believe that "natural" laws of economics" benefit everyone. The economic system we have benefits those with the most wealth and power already.

I think that's been answered.
I'm sorry if I can't explain it better or you cannot accept it.
If the light bulb exists because of want, is it the light bulbs fault that not all have it?
Want is natural. Human behavior a product of nature. The flow of goods a product of behavior.

[blackpowder]

In case it isn't obvious, I am a big fan of monopoly. I was unbeatable when I was a kid. Started playing with my own kids when they were quite young. They beat me every time now.

To Chuck, the roll of the dice is unfair and therefore unnatural. The End.

[chuckChuck]

There is not equality of opportunity that is a big part of the problem.

It makes no sense to allow a very small number of elites to control a vast amount of the worlds wealth.

There is always going to be inequality, but there are several democratic countries that do a much better job of distributing wealth than others and they also have very strong resilient economies.

Why would you want a small number of rich people and whole lot of poor people who don't have much spending power, who don't have access to good education and healthcare and have a much lower quality of life?

There is very little chance of upward mobility in countries like that.

[AlbertaFarmer5]

There is not equality of opportunity that is a big part of the problem.

It makes no sense to allow a very small number of elites to control a vast amount of the worlds wealth.

There is always going to be inequality, but there are several democratic countries that do a much better job of distributing wealth than others and they also have very strong resilient economies.

Why would you want a small number of rich people and whole lot of poor people who don't have much spending power, who don't have access to good education and healthcare and have a much lower quality of life?

There is very little chance of upward mobility in countries like that.

Especially when someone who inherited the farm intends to will his stolen 6000 acres to his own kids.
You can be part of the solution, instead of being the problem.

Speaking of which, what are you doing working on Sunday? Don't you usually get the weekends off?

[chuckChuck]

To Chuck, the roll of the dice is unfair and therefore unnatural. The End.

Huh? The real game is rigged in favour of wealth and power having the most influence.

Only naive children like A5 think Monopoly is an analogy or model of how the real world economy works!

And there is no equality of opportunity when a small number of elites have a disproportionate share of the worlds wealth.

Are you still sure all greed is good BP?

[AlbertaFarmer5]

Since you aren't willing to set the example and redistribute your own wealth, instead choosing to be one of the small number of elites who will continue the non merit based aristocracy of willing your stolen land to the next generation, your sermons are hypocritical at best.
Your 6000 acres puts you well within the top 0.1 % of the worlds wealthiest citizens.
A saying about glass houses comes to mind.

[chuckChuck]

That's all you got A5?

I thought you believed in the luck of Monopoly and it was your favorite game?

Almost all land owning farmers have a lot of assets compared to the average Canadian.

And Canadians are generally some of the relatively wealthier people on the planet like the rest of the G7.

But don't let that stop you from telling us how oppressed and unlucky you are in "poor" Alberta! LOL

[AlbertaFarmer5]

So what do you suggest? Offer a solution that won't destroy the motivation of the working class.

[chuckChuck]

Checks and balances to make sure the wealthier pay their fair share and support democratic institutions and mechanisims that make sure that everyone has all the basics plus equality of opportunity.

[blackpowder]

Agree with everything you said except. Using the word fair. That's a flag word for many reasons. And a whole new thread. LOL

[AlbertaFarmer5]

Checks and balances to make sure the wealthier pay their fair share and support democratic institutions and mechanisims that make sure that everyone has all the basics plus equality of opportunity.

That's not an answer. Those are meaningless generic platitudes.
Specifically, are you referring to wealth tax, income tax, death taxes, inheritance taxes?
At what income level, or what level of wealth would these measures apply?
How do you maintain the incentive for the innovators?

[cropgrower]

Yes what is a fair share ?