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www.capitalismisbroken.org

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Justin D Posted: Wed, Oct 5 2011 8:57 PM

Interesting website thats making the rounds.
www.capitalismisbroken.org

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Maybe I don't listen closely enough in Econ class. How is "productivity" measured?

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What is their obsession with 1979?

 

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Beginning of supply-side?

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They had me until, "contact your congressman...vote."

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If a picture is worth a thousand words, take a look.

I'd take the thousand words, thanks. I really can't believe* they opted to rely primarily on graphs. What exactly are the graphs conveying? What is meant by this or that? How are they calculated? Is causation behind this half-century worth of data so simple and uniform that it can be conveyed by a graph with two or three lines on it? Looking at that productivity/compensation graph at sharedprosperity, they of course talk about household income and mention 1973. I searched for the word "divorce" and found no results. The divorce rate shot up in the 70s, greatly skewing data regarding household income. I'm not suggesting that this explains away everything about the graph, just as these folks shouldn't suggest "deregulation" explains everything.

That's why a thousand words (and words, not numbers) is preferable to a picture, you can make (slightly more) clear your assumptions, conditions, methodology, etc.

They had me until, "contact your congressman...vote."

Seriously, they even have a graphic comparing the 'chances' of the ordinary person becoming a millionaire with Congressmen's chances. For so many progressives, it's staring them right in the face, but they still have faith in politicians. After everything he's done, so many will still vote for Obama next year. And, judging from that site, the non-socialist Bernie Sanders.

*of course, I can believe it

"People kill each other for prophetic certainties, hardly for falsifiable hypotheses." - Peter Berger
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Birthday Pony:
They had me [all the way] until, [the very end].

You should see my big surprised face.

 

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"The 'household' thing is really a tipoff: whenever I see somebody quoting household income he's trying to make things look bad."
-Thomas Sowell

 

 

 

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