Unjust Desserts, and Bill Gates' Father
Two authors made it to BookTV this afternoon, after Milton Freidman's interview from 1994. They are Gar Alperovitz and Lew Daly, who released "Unjust Desserts", which you'll find at http://www.unjustdesserts.com . I'm agnostic about their theories. I'm not Paul Samuelson, or PT Barnum for that matter. What we focus on are new candidates for Whateverland, words that just buzz around your ears like humming birds, taunting your like.... you get the picture.
Friedman's interview was interesting, a reminder of an age of iron laws of "economics" you heard as our symbolic economy carried us from one bubble to the next. Laws such as big government amounts to socialism and less government is more, leaving free, unfettered markets to build and maintain our standards of better living (as if persons were not the foundation of these actions). My mind wondered as Milt explained how his education was financed-- free, at Rutgers. It made me think about the barriers to entry in so many industries, and whether it's big government that is the cause or the clutch on that problem?
Milt lamented the kind of scholarships that Rutgers gives out now, which are based on need alone and not the testing he went through to finance his leg up.
But the point here are phrases that qualify for entry here in "Whateverland". Friendman wanted to be remembered for, and was more proud of his "consumption function" theory, which he said is technical. Milt's son, a trained physicist without any training in economics, does research at U of Chicago Law School in the Law and Economics "department".
So we need to look into this Consumption Function, in spite of Milt's lucky break at Rutgers that's lead to his strange, dissociative ideology that markets alone (not cashed up players) will do the right thing to improve life in America.
After Friedman, a panel of authors with a few phrases that may just end up in Whateverland as well. "Unearned incremental" returns from society's collective knowledge by those who benefit in any generation, as majorities wallow in their own opportunities, or lack thereof. Quoting Bill Gates senor, the authors spoke on behalf of those B students of Poughkeepsie (presumably not the Bard College or Vassar coeds). While Friedman told his pencil story, marveling at the timber men, carbon-graphic miners, rubber harvesters, and so on; Gar Alperovitz lamented what's inherited from one generation to the next. Not inherited through surrogate's court, or by trusts, wills or estate legal strictures.
Knowledge, and what's taken for granted, such as electricity. And as it turns out, Bill Gates, Sr, Bill Gates, Jr's corporate attorney from the day he quit stacking books in Harvard's library (I did that in a major University-- who could blame him). Poppa Gates apparently has been running around making the point in educated circles (that listen)-- if you had a choice to be born in Africa, as the sharpest tool in village, you would probably choose to be born in America, to live a life as a grinder in an economy of dull stagflation. Perhaps like one of those "B student from Poughkeepsie" Bill junior has been lamenting, some who might go on to graduate from a middle tier Business college with an MBA only to find few jobs for someone with your skill set and attributes, lower salaries than you thought you would command with such expensive training, and a tax rate over around 50% to pay off the liabilities for the lie of the 1990s.
Give a man a fish, teach a man to fish, or let a man swim with the big fish, capturing oil tankers off the coast of Semolina... it's a puzzle, what to do and where to provide those incentives if you achieve the command the GDP of a country by monopolistic business practices that have become the order of the day, isn't it?
Imagine Baby Bush admiring trust busting Teddy Roosevelt? It's like a ghoul's joke.
Friedman's interview was interesting, a reminder of an age of iron laws of "economics" you heard as our symbolic economy carried us from one bubble to the next. Laws such as big government amounts to socialism and less government is more, leaving free, unfettered markets to build and maintain our standards of better living (as if persons were not the foundation of these actions). My mind wondered as Milt explained how his education was financed-- free, at Rutgers. It made me think about the barriers to entry in so many industries, and whether it's big government that is the cause or the clutch on that problem?
Milt lamented the kind of scholarships that Rutgers gives out now, which are based on need alone and not the testing he went through to finance his leg up.
But the point here are phrases that qualify for entry here in "Whateverland". Friendman wanted to be remembered for, and was more proud of his "consumption function" theory, which he said is technical. Milt's son, a trained physicist without any training in economics, does research at U of Chicago Law School in the Law and Economics "department".
So we need to look into this Consumption Function, in spite of Milt's lucky break at Rutgers that's lead to his strange, dissociative ideology that markets alone (not cashed up players) will do the right thing to improve life in America.
After Friedman, a panel of authors with a few phrases that may just end up in Whateverland as well. "Unearned incremental" returns from society's collective knowledge by those who benefit in any generation, as majorities wallow in their own opportunities, or lack thereof. Quoting Bill Gates senor, the authors spoke on behalf of those B students of Poughkeepsie (presumably not the Bard College or Vassar coeds). While Friedman told his pencil story, marveling at the timber men, carbon-graphic miners, rubber harvesters, and so on; Gar Alperovitz lamented what's inherited from one generation to the next. Not inherited through surrogate's court, or by trusts, wills or estate legal strictures.
Knowledge, and what's taken for granted, such as electricity. And as it turns out, Bill Gates, Sr, Bill Gates, Jr's corporate attorney from the day he quit stacking books in Harvard's library (I did that in a major University-- who could blame him). Poppa Gates apparently has been running around making the point in educated circles (that listen)-- if you had a choice to be born in Africa, as the sharpest tool in village, you would probably choose to be born in America, to live a life as a grinder in an economy of dull stagflation. Perhaps like one of those "B student from Poughkeepsie" Bill junior has been lamenting, some who might go on to graduate from a middle tier Business college with an MBA only to find few jobs for someone with your skill set and attributes, lower salaries than you thought you would command with such expensive training, and a tax rate over around 50% to pay off the liabilities for the lie of the 1990s.
Give a man a fish, teach a man to fish, or let a man swim with the big fish, capturing oil tankers off the coast of Semolina... it's a puzzle, what to do and where to provide those incentives if you achieve the command the GDP of a country by monopolistic business practices that have become the order of the day, isn't it?
Imagine Baby Bush admiring trust busting Teddy Roosevelt? It's like a ghoul's joke.
Labels: B Students from Poughkeepsie, Bill Gates, Walmart, Whateverland
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