#redistribution

wazoox@diasp.eu

Why not Keynes? - by Branko Milanovic

#economics #inequality #redistribution

Even a very cursory look at the fundamental equation which is A (aggregate supply) = C + I + G shows that if C (aggregate consumption) is a function of income distribution an obvious way to rebalance supply and demand is to “improve” income distribution, that is to transfer purchasing power from the rich to the poor. If $1 is transferred from a rich person who normally consumes only 50 cents, to a poor person who would consume 95 cents, aggregate consumption will increase. One can then fine-tune it until it closes the gap between the aggregate supply and the effective/aggregate demand. There is no need to introduce government spending, G.

The question is then, why was such an obvious path out of insufficient demand not taken by Keynes? He had in front of him two possibilities: one was to increase government spending; the second was to redistribute income towards the poor. The latter is an easier solution and entirely within the logic of the model itself, including within the logic of a new concept of “propensity to consume” which Keynes has introduced. But if income distribution is assumed unchanged or unchangeable, or if one does not want to touch income distribution for political reasons, then the only way out is the one taken by Keynes: increased government spending.

https://branko2f7.substack.com/p/why-not-keynes

tpq1980@iviv.hu

Many #American #Conservatives might like to critique the #UK as being too #Socialist, many of those critiques may be valid, however, the #USA is not a #Capitalist economic system any more than the UK is, with the #GDP of both nations being comprised of around 40% #government spending.

The USA has been for decades a mixed Capitalist/Socialist economic system. What's most sad about both the UK and #US is that the kind of #Socialism being deployed is actually #corporate Socialism, wherein #taxes are forcibly redistributed to #corporations and the most wealthy. The worst aspects of both systems.

#corporatesocialism #redistribution #angloamerican #economics

https://en.wikipedia.org/wiki/Government_spending_in_the_United_States#State_and_local_government_spending

escheche@diasp.org

Martin Luther King Jr. ~ A True and Visionary Radical

January15,1929 - April 4,1968

As we celebrate #Martin-Luther-King-Jr-Day, let’s look at some of the things he said that challenged #capitalism and are left out of most history books.

“I imagine you already know that I am much more #socialistic in my economic theory than capitalistic… Capitalism started out with a noble and high motive… but like most human systems it fell victim to the very thing it was revolting against. So today capitalism has out-lived its usefulness.”

Letter to Coretta Scott, July 18, 1952.
“In a sense, you could say we’re involved in the #class-struggle.”
-Quote to New York Times reporter, Jose Igelsias, 1968.

“And one day we must ask the question, ‘Why are there forty million poor people in America? And when you begin to ask that question, you are raising questions about the #economic-system, about a broader distribution of wealth.’ When you ask that question, you begin to question the capitalistic economy. And I’m simply saying that more and more, we’ve got to begin to ask questions about the whole #society…”
-Speech to Southern Christian Leadership Conference Atlanta, Georgia, August 16, 1967.

“Capitalism forgets that #life-is-social. And the kingdom of brotherhood is found neither in the thesis of communism nor the antithesis of capitalism, but in a higher synthesis.”
-Speech to Southern Christian Leadership Conference Atlanta, Georgia, August 16, 1967.

“Call it #democracy, or call it #democratic-socialism, but there must be a better distribution of wealth within this country for all God’s children.”

Speech to the Negro American Labor Council, 1961.
“We must recognize that we can’t solve our problem now until there is a radical #redistribution of #economic and #political #power… this means a #revolution of #values and other things. We must see now that the evils of #racism, economic #exploitation and #militarism are all tied together… you can’t really get rid of one without getting rid of the others… the whole structure of American life must be changed. America is a #hypocritical nation and we must put our own house in order.”

Report to SCLC Staff, May 1967.
“The evils of #capitalism are as real as the evils of #militarism and evils of #racism.”
-Speech to SCLC Board, March 30, 1967.

“I am now convinced that the simplest approach will prove to be the most effective - the solution to poverty is to abolish it directly by a now widely discussed matter: the #guaranteed #income… The curse of poverty has no justification in our age. It is socially as cruel and blind as the practice of cannibalism at the dawn of civilization, when men ate each other because they had not yet learned to take food from the soil or to consume the abundant animal life around them. The time has come for us to civilize ourselves by the total, direct and immediate #abolition-of-poverty.”

Where do We Go from Here?,1967.
“You can’t talk about solving the economic problem of the Negro without talking about billions of dollars. You can’t talk about ending the slums without first saying #profit must be taken out of slums. You’re really tampering and getting on dangerous ground because you are messing with folk then. You are messing with captains of industry. Now this means that we are treading in difficult water, because it really means that we are saying that something is wrong with capitalism.”

Speech to his staff, 1966.
“We are saying that something is wrong … with capitalism… There must be better distribution of wealth and maybe America must move toward a democratic socialism.”

Speech to his staff, 1966.
“If America does not use her vast resources of wealth to end poverty and make it possible for all of God’s children to have the basic necessities of #life, she too will go to hell.”

Speech at Bishop Charles Mason Temple of the Church of God in Christ in support of the Memphis sanitation workers’ strike on March 18th, 1968, two weeks before he was assassinated.
#mlk #mlkday #martinlutherkingjr #civilrights

anar65@diaspora-fr.org

#Patrons #Carrefour #Supermaché #GrandeDistribution #Autoréductions #Précarité #Occupation #AlexandreBompard #PDG #Vol ou plutôt #Redistribution des #Richesses #Réappropriation

Action contre l’AFEP, le lobby des grands patrons

Publié le 2 décembre 2022

Dans le cadre de la 2e semaine d’action pour les autoréductions et contre Carrefour, le collectif Carrefour Retire Ta Plainte a occupé les locaux de l’AFEP, Association Française des Entreprises Privées, dans le 8e arrondissement de Paris. Communiqué.

Nous étudiantes et étudiants, chômeuses et chômeurs, travailleuses et travailleurs, et individus en lutte contre la précarité, occupons en ce moment le siège de l’AFEP, Association Française des Entreprises Privées – club très sélect et surtout très confidentiel du grand patronat français. Nous pensions y trouver Alexandre Bompard, PDG de Carrefour, que nous cherchons désespérément depuis des mois. Encore loupé. Nous négocions actuellement avec le personnel pour établir un contact avec lui, mais ce contact nous est pour l’instant refusé.
Pourquoi nous sommes nous lancé·e·s dans cette périlleuse entreprise ? Le 14 octobre 2021, son groupe a obtenu la condamnation de deux de nos camarades pour « vol en réunion ». Pour ces faits, il et elle doivent désormais verser 38.000 euros de dommages et intérêts au Groupe Carrefour.

Nous ne laisserons pas nos camarades verser un centime à cette #multinationale, Carrefour doit renoncer à cette somme et retirer sa plainte.

« Vol en réunion », voilà leur version et celle de la justice. Voici la nôtre :

Le 30 janvier 2021, après plusieurs mois de #confinements, #couvre-feux et autres #restrictions, nous étions une soixantaine à avoir mené une autoréduction au Carrefour Market de la rue Nationale à Paris. Riz, pâtes, huile, lait bio, couches de qualité pour bébé, serviettes hygiéniques… Des chariots ont été remplis pour fournir des cantines et des distributions #solidaires. Avec ces caddies pleins de victuailles, bien meilleures que des boîtes de conserve premier prix, nous avons bloqué les caisses du magasin et demandé à rencontrer le patron pour obtenir son accord de partir avec tout ou partie de la marchandise. Des représentants du groupe sont venus et ont accepté de nous céder les biens considérés comme « de première nécessité ». La #police a contrôlé deux des soixante participant·e·s à cette autoréduction et les a retrouvé·e·s. Malgré son engagement à donner ces produits, le groupe #Carrefour a décidé de porter plainte. Eux y voient un vol, nous y voyons une juste réappropriation en contrepartie des #bénéfices accumulés jalousement par la grande distribution.

Nous avons presque tout tenté pour retrouver Alexandre Bompard. Nous avons tracté dans de nombreux Carrefour de France à maintes reprises, occupé le siège du groupe à Massy en mars dernier, nous nous sommes même incrusté·e·s à un gala où il était invité. Jamais nous n’avons été entendu·e·s. Si nous ne pouvons pas le rencontrer chez lui, nous avons décidé d’aller chez ses amis de l’ #AFEP, dans les quartiers #bourgeois de l’Ouest parisien, où lui et les patrons du #CAC40 s’organisent des petits-déjeuners. Mais à l’AFEP, on ne boit pas seulement du jus d’orange pressé avec #Bolloré ou le patron de #Total. Entre deux macarons, on réfléchit à comment agir en coulisse pour défendre les intérêts de ceux qui ont déjà tout : la fin de l’ #ISF, le maintien du crédit d’impôt recherche, la non-taxation des jets privés ou des #superprofits.

Et Carrefour a pleinement profité de ces manigances. Nous ne pouvons pas laisser ce monstre de la grande distribution réclamer 38.000 euros à nos #camarades, alors qu’il fait un milliard de bénéfices en 2021. Le modèle de Carrefour bâti par #Bompard consume la forêt amazonienne, selon le rapport d’une ONG. Carrefour, « partenaire premium » des ( #J-O) Jeux Olympiques et Paralympiques de #Paris2024, partenaire de toujours plus de #gentrification, #bétonisation et #techno-surveillance de notre monde. Leurs #profits creusent notre tombe. Quand nous subissons l’ #inflation, c’est la rémunération des patrons du CAC 40 qui explose : elle a bondi de 52% en 2021 (un « record historique », selon le rapport annuel de Proxinvest publié le 22 novembre).

Il est temps de perturber ces espaces où les #puissants se sentent depuis bien trop longtemps à l’aise.

Nous ne paierons pas. Carrefour, retire ta plainte

Paris, le 2 décembre 2022
Note
Suite à l’action un camarade est en garde-à-vue : rassemblement de soutien ce soir (vendredi 2 décembre) à 19h devant le comico du 8e arrondissement. 210 rue du Faubourg Saint Honoré, métro 9 Saint Philippe du Roule.

tpq1980@iviv.hu

Do Americans know there's a department in the #Federal #government called the "Office of Financial Institutions" and part of its role is to "...formulate policy on financial institutions and government-sponsored enterprises..."

Do Americans know their Federal government spends their #taxes on "government-sponsored enterprises"? What #enterprises does the Federal government sponsor and how much of American's taxes are spent on this?

https://home.treasury.gov/about/offices/domestic-finance/financial-institutions

https://en.wikipedia.org/wiki/Office_of_Financial_Institutions

#federalgovernment #socialism #usa #usgovernment #treasurydepartment #treasury #cronyism #tax #collusion #fascism #biggovernment #biggov #redistribution #nationaldebt #debt #usfederalgovernment

ahornbrett@diasp.de

Jeff Booth – #Bitcoin & Our Deflationary Future - podcast - July 10, 2020

" ... trying to just stop #deflation from happening now is going to end in misery because all it’s doing is transferring massive amounts of wealth from the middle-class and poor to the rich. In the last two months of COVID the billionaires in the US gained $552 billion at, a 20% unemployment."


Some of the claims, that are being made:
1. Technological progress is the determining force that pushes economy towards a #deflation
2. All central banks have set their goal to prevent #deflation and instead create #inflation (because there's an ideology that moderate #inflation is good and #deflation is bad)
3. Forced #inflation (to fight #deflation) leads to transfer of wealth from bottom to top
4. At some point in the future, some central banks & governments will begin to fight bitcoin ... and some will adopt bitcoin to solve their problems


Quote:

" ... think about what we do to spend all of our time trying to work our whole lives so that we can retire the last 10 years safely, right? And the entire time we’re working harder and harder and harder trying to keep up with artificially prices are rising prices that are created artificially, right. Just to push away from us. So we have to work harder. And so we need better jobs. We need everything else to be able to chase on that mouse wheel faster and faster when technology is actually wanting to give us the exact opposite, when prices should be coming down ... "

mp3:
https://stephanlivera.com/download-episode/2301/191.mp3

episode & transcript:
https://stephanlivera.com/episode/191

#bitcoin #centralBanks #deflation #inequality #inflation #JeffBooth #monetaryPolicy #redistribution #redistributionOfWealth #StephanLivera #thePriceOfTomorrow #universalBasicIncome #UBI

ahornbrett@diasp.de

Vijay Boyapati (Software Developer, Austrian Economist), podcast, Dec 2018:

“Why Credit #Deflation Is More Likely Than Mass #Inflation

Find out where economics commentators were getting it wrong immediately post the 2008 Global Financial Crisis, and ways to think about Bitcoin in the coming years.


The following quote from the transcript supports my view and understanding of what #inflation and the current financial system means: ongoing #redistribution of wealth (mainly from bottom to top).
And it makes obvious why there needs to be a way for regular people to bypass the official money - maybe by using #bitcoin. Because with the current system, the banks and investors continuously milk every penny they can get their hands on from every transaction that's being made.

Vijay Boyapati:
Yeah, so the problem with an inflationary policy is that during the #inflation, it seems like everything and everyone is profitable as is prices start rising because of the #inflation, even though it’s only a privileged few who are actually benefiting from the inflation. Inflation’s kind of insidious because they transfer, the transfer of wealth happens is hidden and it’s not really obvious to the public. When the bust happens and you get into the inevitable deflationary people, people who are running marginal businesses or who took loans that only made sense during the #inflation are bankrupted and their property is taken back in bankruptcy in the deflationary bust phase, the #redistribution of wealth is not hidden anymore. It’s very obvious and public. Property is you know, visibly taken back by collection services for example. And that causes a lot of social unrest because the #redistribution of wealth is, you know, in your face and it’s obvious to everyone. Whereas during the inflationary phase, people, like the bankers in people in the banking system are getting rich, but it seems kind of like everyone’s getting rich cause prices going up. But in a deflationary period, it’s really obvious that the wealth is being transferred because it’s actually physically being taken back.


Another important quote:

You still have like, you know, a fairly small number of technically savvy computer scientists and cryptographers who own a fairly large fraction of all of #Bitcoin. So Bitcoin’s movement is determined a lot by what a fairly small number of people are going to do.

For me this is the crucial part. If there are still just a few hundred people holding a big percentage of coins (like more than 50 %), then in the longterm these people will from time to time release some of their coins (which will represent a significant amount of value) to buy something with them. And whenever this happens the price for #bitcoin will drop.
And this might go on an on for years ... until maybe the distribution will have become flat enough, so that it could maybe reach a fairly stable quasi-statical state.
But until the coins will (maybe) be spread amoung a big enough number of regular people going about their lives and sometimes using #bitcoin to transfer value ... until then, the price won't be stable.

Any currency that starts out with very few people owning the total amount has to go through a phase where the total amount gets spread amoung a growing number of participants ... until either it reaches wide adoption ... or it remains a niche and some time vanishes.
I can hardly imagine this phase happening without there being kind of like a sawtooth shaped development of the price.

Why would the price ever become more stable when more people own bitcoins?
Because regular people who'd own some coins would make everyday life choices that are governed not only by speculation and thought, but also by circumstances. They wouldn't use their coins for high frequency trading, but would sometimes forget about the coins. They'd keep some for their children or maybe for their retirement.
All these circumstances would lead to a decreased exchange and to a bigger portion of coins being held instead of being used in a volatile way. Like a dampening system.

Bank runs on #bitcoin could of course happen, which would make the price plunge. But with enough dampening in the system, the magnitude and probability should become small enough for #bitcoin to appear as a more stable system than the official currencies ... I think.

mp3:
https://stephanlivera.com/download-episode/907/40.mp3

episode & transcript:
https://stephanlivera.com/episode/40/

The article that's being discussed:
http://libertarianpapers.org/articles/2010/lp-2-43.pdf
Another article by Vijay Boyapati:
https://medium.com/@vijayboyapati/the-bullish-case-for-bitcoin-6ecc8bdecc1

#austrianEconomics #bitcoin #deflation #inflation #redistribution #redistributionOfWealth #StephanLivera #VijayBoyapati

dredmorbius@joindiaspora.com

Francis, The Papacy, The Poor, and Social Justice

"I like this Pope" is a phrase I've seen repeatedly concerning Pope Francis, quite notably from non-Catholics, non-Christians, and even numerous atheists. Its opposite has crossed the lips of a number of conservatives, including many of religious persuasions.

I'm among the atheists who like this Pope. And while I'm no scholar of the Vatican or Papal doctrine, it seems that he's proving new ground in social justice. A recent reddit discussion prompted me to take a closer look

Francis's emphasis on social justice and direct action to assist the poor, is absolutely unprecedented in over 200 years....

Continued at the dreddit.

http://www.reddit.com/r/dredmorbius/comments/258gq1/francis_the_papacy_the_poor_and_social_justice/

#poverty #popefrancis #catholicism #socialjustice #inequality #redistribution #papcy #poor