Quote:
Originally Posted by Paul Markham
And where do you think public sector revenues come from to buy the iPhones? 
There are only 3 places it can come from, printing money, borrowing and private sector. Even Gordon Brown couldn't get it from anywhere else.
Some of the economics here is laughable and an indication of business prowess. |
I said that Paul. I know governments borrow money in order to cover their deficits, it's necessary when you need to fund big projects like building hospitals or schools.
My argument is that the Conservative coalition is cutting huge in amounts in a 5 year term and expecting growth at the end. This frankly will not happen.
Quote:
Originally Posted by Cherry7
If Polish wages rise he will be in dire trouble.
|
Then they'll move to China, because that's what capitalists do. They squeeze the only commodity that they can which is labour. They also lobby governments for subsidies to reduce costs. The resulting profits of the above are paid to shareholders and the board as bonuses.
I don't think capitalism should never have existed, we needed it in order to pass onto the next stage of economic evolution, which is, stateless socialism. Russia has been mentioned as a failure of Communism but they went from a backwards feudal farming country to the superpower of the world in less than 50 years whilst fighting in 2 major wars. It was far from perfect and ran by a complete tyrant but I wouldn't point to it and say "look communism fails", because it wasn't even a true communist state.
"Worker owned means of production" this phrase is always dropped when critiques of communism talked about how it has failed. Show me the Russians that were in charge of their own factories. That's right you can't because Stalin ran them all.