Who Owns America’s Wealth?
May 9, 2010 - 7:33 am
This video basically sums up the distribution of wealth throughout the US population. The distribution of wealth in other countries, like the UK, is very similar. These figures are more than a decade old. It’s even more concentrated now.
Duration : 0:0:46
[youtube 8VHNXTBwj80]
May 9th, 2010 at 7:33 am
If someone from the …
If someone from the 16th century were to travel in a time machine to our age and visit Bill Gate’s house, what items in his house hold would the man find the most amazing? We could imagine he would be fond of everyday things like the flushing toilet, tv, microwave, shower, stereo and the car in the garage. Yet all these things can be found in the average westerners home. Thanks to, dare I say it, the productivity that “capitalism” brings.
May 9th, 2010 at 7:33 am
Completly …
Completly irrelivant video. The question should not be what percentage of the population owns what percentage of wealth. But rather, what economic system provides the most wealth to the average man. Or perhaps, what economic system maximizes the poors preferences. Wealth is not a pie: just because I have more you must have less. This may be true to the given amount of currency in an economy, but not its production.
May 9th, 2010 at 7:33 am
sorry.. i meant to …
sorry.. i meant to say get rid of this failed capitalist system. it’s time to take the power back.
May 9th, 2010 at 7:33 am
this failed …
this failed capitalist system. or just wait to see it collapse on its own.
May 9th, 2010 at 7:33 am
are managed …
are managed responsibly and justly for the well-being of all humanity. to help our brothers and sisters of not just the United States but of the world. obviously, people with power won’t allow for that so it’s up to us to make that real and we can. it’s only a matter of choice and the life-long struggle against the indoctrinating institutions that exist to perpetuate this system. question authority. we need a new economic system that creates wealth for all. we can do it but first we got to get..
May 9th, 2010 at 7:33 am
so are we not …
so are we not convinced that modern capitalism has resulted in more economic disparity? i hear talks about how various ethnic populations are the minorities in the United States when the truth is that the real minorities are these people with centralized wealth. the majority are the working class people of the world that create this wealth. perhaps, it’s time to take it back and create an economic system that does not prey on the workmanship of the poor but, instead, one in which resources..
May 9th, 2010 at 7:33 am
@underthebox ya
@underthebox ya
May 9th, 2010 at 7:33 am
@amadeusyaoi yes, …
@amadeusyaoi yes, but we’re getting jacked by them. so in this case them having more does equate to us having less because they’re taking it from us.
May 9th, 2010 at 7:33 am
the few 10% own 72% …
the few 10% own 72% of the wealth?
May 9th, 2010 at 7:33 am
TYPO/CORRECTION: …
TYPO/CORRECTION: According to 2006 figures 95% of the US creates 66% of the USA’s wealth HOWEVER this 95% is only able to share 13% of its wealth. So for every $1 that is generated on American soil, 95% of the population is privy to 13 cents. Corporate welfare, the Military and GREEN initiatives take up 66% or 66 cents and 21% or 21 cents go to help the private sectors (arts, etc.)
May 9th, 2010 at 7:33 am
That is nothing …
That is nothing according to 2006 figures 95% of the US creates 66% of the USA’s wealth HOWEVER this 90% is only able to share 13% of its wealth. So for every $1 that is generated on American soil, 95% of the population is privy to 13 cents. Corporate welfare, the Military and GREEN initiatives take up 66% or 66 cents and 21% or 21 cents go to help the private sectors (arts, etc.)
May 9th, 2010 at 7:33 am
I’m sure the …
I’m sure the conspiracy nuts and communists will attack me for this, but economics is not a zero-sum game; the fact that someone has more does not equate to me to having less.
May 9th, 2010 at 7:33 am
@BCT071 Did you not …
@BCT071 Did you not understand what I just said? Do you think this is optimal ” Theyll build the safest bridge but millions will starve from over-utilization of resources for? a f’ing bridge which takes away from food production.”
By what mechanism would you eliminate this possibility if there is no metric by which scarce resources are quantified and optimally allocated
May 9th, 2010 at 7:33 am
@axe863
Your’e …
@axe863
Your’e right…i must be crazy….right?
The status quo must be the best and only way forward…right?
May 9th, 2010 at 7:33 am
@BCT071 Youre crazy …
@BCT071 Youre crazy. You seriously are scaring me. Values quantify. Are you saying that bridges should be built without any numeric value. Theyll build the safest bridge but millions will starve from over-utilization of resources for a f’ing bridge which takes away from food production.
May 9th, 2010 at 7:33 am
@axe863 As with the …
@axe863 As with the standard of ignorance it would appear.
May 9th, 2010 at 7:33 am
I’m talking about …
I’m talking about the removal of the numeric value from the things we create and do.
The things that need to be done are done because of that need not because there is advantage to be made from it.
What if co-operation is a better way than competition?
Imagine if Nasa didn’t need a budget.
What a stupid species wer’e gonna look like if we die out here because of a numeric value.
May 9th, 2010 at 7:33 am
@BCT071 Money has …
@BCT071 Money has no intrinsic value. Why do you keep speaking of money in such an odd function. Do you mean the price system?
May 9th, 2010 at 7:33 am
@axe863
So i …
@axe863
So i guess that’s a NO to the first question.
Without money what is the risk?…failure?
The monetary system fails many now.
May 9th, 2010 at 7:33 am
@BCT071 Your …
@BCT071 Your position is religious, mine is empirical. You’re assuming the possibility of persistent systematically irrational agents who will take on systematic risk w/o compensation for said risk…..Are there magical unicorns in your land of make believe?
May 9th, 2010 at 7:33 am
@axe863
You …
@axe863
You really can’t imagine anything being done without it can you?
Not religious as well by any chance?
May 9th, 2010 at 7:33 am
@BCT071 I don’t …
@BCT071 I don’t think you even understand what money is.
Its not a “money” paradigm lol. Its human behavior.
May 9th, 2010 at 7:33 am
@axe863
As you …
@axe863
As you are well aware advancement is slowed at times so corporations/share holders can make maximum profit from already obsolete technologies.
Are you honestly trying to say that without the invention of money we would have stopped advancing after the invention of the wheel?
Or do you think profit was the motive then too?
Like i said it’s difficult to imagine a paradigm outside the existing one.
But i’m sure it’s very possible.
May 9th, 2010 at 7:33 am
@BCT071 ” …
@BCT071 “Advancement,Better living for all,Maximum Efficiency,Minimal waste.”
This is everything that capitalism provides. Why do you think the standard of living has increased since the Industrial Revolution
May 9th, 2010 at 7:33 am
@BCT071 Create a …
@BCT071 Create a hypothetical situation. Without taking risk, each individual makes 40K a year. If an individual takes risk, they are capped at 50K but can lose 30K in a year. Why would any rational individual invest in high risk ventures? lol