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The Black Market Is Becoming The Dominate Marketplace
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<blockquote data-quote="av8torntn" data-source="post: 937051" data-attributes="member: 8259"><p>Should our government still support the wagon wheel industry because people were working in it when automobiles were invented? No, workers gained new skills and moved themselves to where labor was needed. What about the people that sold wagon wheels? What about the people that maintained wagon wheels? </p><p></p><p>I believe it is a fallacy to claim there has been deregulation as I cannot think of any industry that has been deregulated. </p><p></p><p>I typed an entire reply above in anticipation of your Americans stiffed comment. A couple additions or explanations are due as I sometimes get ahead of myself. Household income has declined in the last several decades that is true. What people leave out when they cite this is that the average size of a household has also declined in that same period which increases consumption power. When prices decline and your wages remain stagnant this also increases your consumption power so if you cite stagnation of middle class wages that doesn't make your Americans stiffed comment work either. Government regulations have shifted your disposable income into certain mandatory spending areas by your employer so your total wages have actually increased over time(on average). I use employer because even if you are self employed you sell your goods or services to someone or someone consumes your labor. </p><p></p><p>The bottom line is that the tendency for a price to fall in a free market is a good thing. This natural price drop from discovery of greater efficiencies does more to help the poor than any type of income transfer a government could possibly do as it brings employment and goods and services to more and more consumers. You can take anything to prove that. I will take a TV. If a flat screen TV still cost 12000$ only the very wealthy would have one. Companies through competition have found ways to produce them at a cheaper and cheaper price and now you can find one for a few hundred dollars. The result is most households have one and thousands of people are employed in the manufacture, thousands are employed to supply the manufacture, and thousands of people are employed to facilitate delivery to consumers. I believe you want to overstate poverty and understate peoples standard of living. </p><p></p><p>One thing people leave out when they start to talk about income inequality or wage growth disparity are government transfers. These government transfers actually make it more difficult to leave what would probably call poverty.</p></blockquote><p></p>
[QUOTE="av8torntn, post: 937051, member: 8259"] Should our government still support the wagon wheel industry because people were working in it when automobiles were invented? No, workers gained new skills and moved themselves to where labor was needed. What about the people that sold wagon wheels? What about the people that maintained wagon wheels? I believe it is a fallacy to claim there has been deregulation as I cannot think of any industry that has been deregulated. I typed an entire reply above in anticipation of your Americans stiffed comment. A couple additions or explanations are due as I sometimes get ahead of myself. Household income has declined in the last several decades that is true. What people leave out when they cite this is that the average size of a household has also declined in that same period which increases consumption power. When prices decline and your wages remain stagnant this also increases your consumption power so if you cite stagnation of middle class wages that doesn't make your Americans stiffed comment work either. Government regulations have shifted your disposable income into certain mandatory spending areas by your employer so your total wages have actually increased over time(on average). I use employer because even if you are self employed you sell your goods or services to someone or someone consumes your labor. The bottom line is that the tendency for a price to fall in a free market is a good thing. This natural price drop from discovery of greater efficiencies does more to help the poor than any type of income transfer a government could possibly do as it brings employment and goods and services to more and more consumers. You can take anything to prove that. I will take a TV. If a flat screen TV still cost 12000$ only the very wealthy would have one. Companies through competition have found ways to produce them at a cheaper and cheaper price and now you can find one for a few hundred dollars. The result is most households have one and thousands of people are employed in the manufacture, thousands are employed to supply the manufacture, and thousands of people are employed to facilitate delivery to consumers. I believe you want to overstate poverty and understate peoples standard of living. One thing people leave out when they start to talk about income inequality or wage growth disparity are government transfers. These government transfers actually make it more difficult to leave what would probably call poverty. [/QUOTE]
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