Comments on: Counterparties: RoboCapitalists http://blogs.reuters.com/felix-salmon/2013/01/14/counterparties-robocapitalists/ A slice of lime in the soda Tue, 18 Jun 2013 21:59:52 +0000 hourly 1 http://wordpress.org/?v=3.4.2 By: Kratos1256 http://blogs.reuters.com/felix-salmon/2013/01/14/counterparties-robocapitalists/comment-page-1/#comment-45574 Kratos1256 Wed, 16 Jan 2013 03:29:46 +0000 http://blogs.reuters.com/felix-salmon/?p=20171#comment-45574 Inequality is at the lowest level in human history in part due to things like automation. When people like Krugman speak of "inequality," he's speaking of "income inequality" an "wealth inequality" which are ways of just manipulating the statistics to give a protrayal of society that isn't real. For example, saying that this or that percent of Americans (itself just a statistic that is not representative of actual flesh-and-blood human beings) makes this or that percentage of the "national income," that is like saying that the poor have an abnormally high proportion of "society's weight." Or that some percentage has an high proportion of "society's height." Are there statistical distributions of height and weight in society? Yes. Des that mean anything? No. Income is no different, as income is not something that exists in a pre-existing supply that is then divided up among society by some central authority. Same with wealth. Inequality is at the lowest level in human history in part due to things like automation. When people like Krugman speak of “inequality,” he’s speaking of “income inequality” an “wealth inequality” which are ways of just manipulating the statistics to give a protrayal of society that isn’t real. For example, saying that this or that percent of Americans (itself just a statistic that is not representative of actual flesh-and-blood human beings) makes this or that percentage of the “national income,” that is like saying that the poor have an abnormally high proportion of “society’s weight.” Or that some percentage has an high proportion of “society’s height.”

Are there statistical distributions of height and weight in society? Yes. Des that mean anything? No. Income is no different, as income is not something that exists in a pre-existing supply that is then divided up among society by some central authority. Same with wealth.

]]> By: EconomistDuNord http://blogs.reuters.com/felix-salmon/2013/01/14/counterparties-robocapitalists/comment-page-1/#comment-45560 EconomistDuNord Tue, 15 Jan 2013 15:11:23 +0000 http://blogs.reuters.com/felix-salmon/?p=20171#comment-45560 "Where has that man (Krugman) been for the last 40 years? “…IF the big rewards…” !!!!" Um....he's been writing ubiquitously about this very problem. Where have YOU been the last 40 years? “Where has that man (Krugman) been for the last 40 years?
“…IF the big rewards…” !!!!”

Um….he’s been writing ubiquitously about this very problem.

Where have YOU been the last 40 years?

]]> By: fresnodan http://blogs.reuters.com/felix-salmon/2013/01/14/counterparties-robocapitalists/comment-page-1/#comment-45555 fresnodan Tue, 15 Jan 2013 10:30:40 +0000 http://blogs.reuters.com/felix-salmon/?p=20171#comment-45555 "Paul Krugman agrees that a shift is necessary: if labor’s share if income continues to decline, “it makes nonsense of just about all the conventional wisdom on reducing inequality. Better education won’t do much to reduce inequality if the big rewards simply go to those with the most assets”." Where has that man (Krugman) been for the last 40 years? "...IF the big rewards..." !!!! http://www2.ucsc.edu/whorulesamerica/power/wealth.html http://research.stlouisfed.org/fred2/graph/?id=GINIALLRH http://economistsview.typepad.com/economistsview/2012/04/the-wedge-between-productivity-and-wages.html http://www.bloomberg.com/news/2010-09-21/goldman-shareholder-a-loser-to-cd-rates-when-blankfein-earned-125-million.html http://www.ft.com/intl/cms/s/2/1a8a5cb2-9ab2-11df-87e6-00144feab49a.html#axzz1XGdEgqJS “Paul Krugman agrees that a shift is necessary: if labor’s share if income continues to decline, “it makes nonsense of just about all the conventional wisdom on reducing inequality. Better education won’t do much to reduce inequality if the big rewards simply go to those with the most assets”.”

Where has that man (Krugman) been for the last 40 years?
“…IF the big rewards…” !!!!

http://www2.ucsc.edu/whorulesamerica/pow er/wealth.html
http://research.stlouisfed.org/fred2/gra ph/?id=GINIALLRH
http://economistsview.typepad.com/econom istsview/2012/04/the-wedge-between-produ ctivity-and-wages.html
http://www.bloomberg.com/news/2010-09-21  /goldman-shareholder-a-loser-to-cd-rate s-when-blankfein-earned-125-million.html
http://www.ft.com/intl/cms/s/2/1a8a5cb2- 9ab2-11df-87e6-00144feab49a.html#axzz1XG dEgqJS

]]> By: FrancoisB http://blogs.reuters.com/felix-salmon/2013/01/14/counterparties-robocapitalists/comment-page-1/#comment-45551 FrancoisB Tue, 15 Jan 2013 01:53:28 +0000 http://blogs.reuters.com/felix-salmon/?p=20171#comment-45551 For the love of god, please proof-read this post for typos. For the love of god, please proof-read this post for typos.

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