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The wealthy do not create jobs A TED talk the rich don't want you to see

#1 User is offline   Bam 

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Posted 14 May 2013 - 12:27 PM

This TED Talk Was Banned For Attacking The Job Creator Myth (Video)
Summary: The wealthy do not create jobs because the wealthy do not create more demand in the economy proportional to their wealth. It is the middle class that creates the demand and so creates employment amongst themselves.
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#2 User is offline   BOOBOO 

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Posted 14 May 2013 - 03:12 PM

View PostBam, on 14 May 2013 - 12:27 PM, said:

This TED Talk Was Banned For Attacking The Job Creator Myth (Video)
Summary: The wealthy do not create jobs because the wealthy do not create more demand in the economy proportional to their wealth. It is the middle class that creates the demand and so creates employment amongst themselves.

So all we need to do is get rid of Walmart, Mcdonalds, Volkswagen, Apple, Microsoft, Virgin, Hitachi and Siemens to name a few and jobs will be created....ahha... back to the drawing board on that one!
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#3 User is offline   Roderick 

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Posted 14 May 2013 - 03:36 PM

View PostBOOBOO, on 14 May 2013 - 03:12 PM, said:

So all we need to do is get rid of Walmart, Mcdonalds, Volkswagen, Apple, Microsoft, Virgin, Hitachi and Siemens to name a few and jobs will be created....ahha... back to the drawing board on that one!

and Coles, Woolworths,Holden and Ford for good measure and not to forget Colonel sanders :lol: :lol:
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Self-defence is not only a Right, it is an Obligation.
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#4 User is offline   Bam 

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Posted 15 May 2013 - 09:24 AM

View PostBOOBOO, on 14 May 2013 - 03:12 PM, said:

So all we need to do is get rid of Walmart, Mcdonalds, Volkswagen, Apple, Microsoft, Virgin, Hitachi and Siemens to name a few and jobs will be created....ahha... back to the drawing board on that one!

Obviously, you did not watch the video. Otherwise you would know that the video did not name any of these corporations and took an approach to the topic that was totally different to what you suggested by your remarks.

Perhaps you should watch the video first and then make comments on the content, rather than just making rubbish remarks that have nothing to do whatsoever with the actual content of the presentation.
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This post has been edited by Bam: 15 May 2013 - 09:25 AM

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#5 User is offline   Bam 

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Posted 15 May 2013 - 09:26 AM

A question: Who creates more economic activity: one billionaire or one thousand millionaires?
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#6 User is offline   BOOBOO 

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Posted 15 May 2013 - 01:39 PM

The billionaires who more than likely created the one thousand millionaires.
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#7 User is offline   Bam 

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Posted 31 May 2013 - 12:58 PM

View PostBOOBOO, on 15 May 2013 - 01:39 PM, said:

The billionaires who more than likely created the one thousand millionaires.

Not likely. By what mechanism? Trickle down, that false religion of the Reagan and Thatcher era?

Trickle down does not work. You want to see proof? Look at the figures for economic growth. The economy grows, but for whom? Not those at the bottom, nor for anyone in the middle three quintiles either. Almost all of the growth is in the top quintile, with the rich getting richer and richer and the wealth divide growing and growing.

If the false religion of trickle down actually worked, we would have eliminated poverty long ago. We won't ever eliminate poverty in Australia with current policy settings because the RBA intentionally adjust interest rates to keep people out of work and in poverty to suppress the growth of wages. The RBA has been given only a hammer, and to the RBA all economic problems look like nails.
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