Originally posted by Palynka CPI is about perceptions of corruption. A measure of stereotypes, more than anything.
Definitely true, to some degree. How do you explain the severe inequality in Portugal even though it has had "socialist" governments since the introduction of democracy? Just incompetence?
I've still not seen my questions answered.
Who gets paid by my tax money?
What's gonna stop another business or another country from falling prey to speculators?
Who's gonna stop banks wasting the bail-out I paid them?
Originally posted by KazetNagorra Definitely true, to some degree. How do you explain the severe inequality in Portugal even though it has had "socialist" governments since the introduction of democracy? Just incompetence?
Portugal's problems are mostly an issue of education. Until 1974 we had a fascist regime which had a policy of not investing in education. Rural, uneducated masses are easier to control. To make things worse, he adopted mercantilist and protectionist policies. So historically, Portugal had a severe educational deficit when the revolution came. I'm not just talking about university, I'm talking about illiteracy. After the revolution, there was political instability for 10 years (14 prime ministers), because no party had a parliamentary majority and in a young democracy coalitions tend not to last long.
Anyway, the more recent socialist governments (basically invested significantly in secondary education and the current one is investing significantly in research trying to push for the next level. But this takes a long time. The generation born after political stability is now only about 25 years old.
Originally posted by spruce112358 Hmmm. Devalue the currency? Classically, that's what would be done. Leave the creditors holding worthless paper.
Unlike the US, most sovereign debt of small countries is not denominated in domestic currency. So if Greece was not within the Eurozone, devaluing the drachma would only make it harder to pay back.
Originally posted by Palynka Portugal's problems are mostly an issue of education. Until 1974 we had a fascist regime which had a policy of not investing in education. Rural, uneducated masses are easier to control. To make things worse, he adopted mercantilist and protectionist policies. So historically, Portugal had a severe educational deficit when the revolution came. I'm not just t ...[text shortened]... es a long time. The generation born after political stability is now only about 25 years old.
Education would explain why GDP is not as high as it could be, but I don't really see how it would explain inequality - it's not that hard to simply tax the wealthy more in a redistributive policy, nor does it take much time for its effect to be felt. Slovenia has been stable for much less than those 25 years yet they seem to be doing a lot better (is that due to better education in the Yugoslav era?).
Originally posted by KazetNagorra Education would explain why GDP is not as high as it could be, but I don't really see how it would explain inequality - it's not that hard to simply tax the wealthy more in a redistributive policy, nor does it take much time for its effect to be felt. Slovenia has been stable for much less than those 25 years yet they seem to be doing a lot better (is that due to better education in the Yugoslav era?).
There you go with inequality again. You don't see how inequality in education leads to inequality in income? Wow. 😵 The denial is strong with this one.
Do you really expect that a poor rural, uneducated person can be brought up to the same level of income as an urban, educated one just by redistribution? 😕 Slovenia (and most communist countries) don't have half the inequality in education.
Why do you really think it has to do with corruption? Dig deep and you'll find it's just stereotyping.
Originally posted by Palynka There you go with inequality again. You don't see how inequality in education leads to inequality in income? Wow. 😵 The denial is strong with this one.
Do you really expect that a poor rural, uneducated person can be brought up to the same level of income as an urban, educated one just by redistribution? 😕 Slovenia (and most communist countries) don't h ...[text shortened]... lly[/i] think it has to do with corruption? Dig deep and you'll find it's just stereotyping.
Corruption increases tax evasion, and increases the size of the informal economy. Both disadvantage the poor.
Of course inequality of education will lead to inequality of income, but that can be corrected.
Originally posted by KazetNagorra Corruption increases tax evasion, and increases the size of the informal economy. Both disadvantage the poor.
Of course inequality of education will lead to inequality of income, but that can be corrected.
Yes, inequality can come from different reasons. Your trusty CPI shows US in the top 20 least corrupt, yet it has a higher Gini coefficient than any European country.
So, don't believe me then. Do a google scholar search for recent papers about inequality in Portugal and see what they say.
Originally posted by Palynka Yes, inequality can come from different reasons. Your trusty CPI shows US in the top 20 least corrupt, yet it has a higher Gini coefficient than any European country.
So, don't believe me then. Do a google scholar search for recent papers about inequality in Portugal and see what they say.
Originally posted by shavixmir Capitalism has proven itself as reliable as a paedophile in a scouting camp.
Banks have collapsed, currencies are targetted (which is worth a thread all on its own) and businesses are taken over under false pretencies, re-sold and working folks are laid off (thinking of English chocolate factories, for example).
My initial question is: Why did we bail ...[text shortened]... he hell is responsible for all this crap? Why don't we just string him up by the balls?
Originally posted by shavixmir I've still not seen my questions answered.
Who gets paid by my tax money?
What's gonna stop another business or another country from falling prey to speculators?
Who's gonna stop banks wasting the bail-out I paid them?
Originally posted by KazetNagorra Well, they should have just started the Euro without the dodgy corrupt regimes, for starters. Still puzzles me why they let in Greece, Italy and Portugal.
Banks, Greece and my bloody money
12 Feb '10 12:551 edit
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