Finance Humor
I've finally gotten around to adding a blog to FundamentalFinance.com. I'll try to discuss news topics and some political-economic topics, similar to some of the stand-alone pages I've already posted (poverty, charity, corporations, etc.).
For starters, I saw this hilarious spoof on YouTube, so I figured this would be a good way to start the blog.
While I laugh every time I see this, it really does stink that there are people who have to stand on a corner every day in order to get work. I pass a group of about 10-20 Hispanics every day on the way to my office. What can we do about poverty? I'm not sure, but if I read anything interesting I'll be sure to post it. I'm certainly opposed in principle to government hand-outs. I'm not opposed to private charities and free-market solutions. One thing I do believe, is that the Hispanics I pass every day are probably better off than they would be in their native countries. That still doesn't make them well-off by American standards, but it's a step in the right direction.
posted by Blake @ 11:09 AM
3 Comments
3 Comments:
This website is flawed in that it is misinterpreting Adam Smith's quotations. When Adam Smith is talking about selfish interest, he is talking about a person is working because he/she see's their incentive to work. Without incentive there is a free rider problem. Socialism and Communism are different things. By the way, the greed (as Capitalism seems to embody) is what got us into this mess in wall-street to begin with!
To piggyback on Rajan's comment on Adam Smith, people have the motivation to work if the incentives to do so are considered aligned with the time spent working and the work they do. Working conditions and the resources of an individual, intelligence, etc are going to effect motivation. The worker has a boss who has the ability to influence how hard the worker performs, even when the work itself is not rewarding and down the road he might bring in more money for same job-but has heard of and met personally who he would work for- a boss that makes the working environment almost unbearable, yet the workers stay because they have few resources and a family to support.
The many hispanics in Houston where I live are experiencing many challenges because of the economy and they are competing with undocumented immigrants who will do work almost for free. Recently had a chance to speak to a native Texan from Brownsville who shared what his happening to his business. He has a painting and sheetrock repair business, and at one time it was one that did very well. Now he competes with people who he could never match prices with. To do so would put him out of business. And, we all want the best deal, right? This is reflected in our global outsourcing and the lack of manufacturing we do here because it is much less expensive to have China and others make all of our consumer goods.
In this respect, we are hurting our country, and this is capitalism.
Wellfare does not give incentive to get a job when the job pays less, and the welfare is no longer given. Hello. You would be a fool to bother...and lets not forget many have children that would need childcare for the parent going to work outside home. By the time a working mother for example gets a job paying about $1200 a month, already several hundred less than the welfare received. Now, she has an added $600-800 a month for childcare (it varies, but usually the cost is higher), she now has a gross 1200-$6-800= 600-400 to live on - taxes. Child most likely eligible for CHIP program, but mom may not get medicaid and if employer offers a plan, where would she pull money for that?
If people were apt to give to charities, and everyone gave a little, I would say fine, our country has their moral in line with the individual spirit of self interests the Capital market promotes and rewards. But it is not the case, so taxes are there to do these things. But, in a country as large as the US, there are going to be many instances of waste, fraud, and corruption. There is the belief that everything is great, until one finds out otherwise when the system fails them.
Fear is what our country makes emotionally flawed decision on, and it works. Why are we so afraid and worried the ideas of people whom we may not completely share is going to infect us and brainwash the masses. I say wake up and get over it. Turn of the television and the shock jock radio, and go volunteer, or go visit a community center. Talk to people, and just quit being so paranoid. I know I am a pacifist on war, but it is not politically motivated---it sprung from my childhood. But that does not mean I wont protect my family and help my community out of neccessity. I hold a degree in social science, and that shaped my understanding of culture in shaping individuals. America has a culture as do all societies. What makes us think anyone wants to be told they are all wrong, to try and change their religious beliefs, and demonize many because there are a few terrorists (or revolutionaries depending on how you look at it, or who is putting the labels down.
We too are terrorists to many innocent people that just happened to be in the wrong place at the wrong time. By me saying this, many people would want to hit me if in my presence, call me crazy and a traitor. But, I'm not in denial, and I don't see impending doom. I do see a broken system filled with hate and bribes and denial to even explore any ideas counter to own. Why? I know my daughter will know it is not the ideas that are dangerous, it is the fearful and the anxious who do not think for themselves.
That is it for now.
Tired of everything not making any sense, and words butchered to make the message read interpreted way out of context. Hope our free country is enjoying the day. Chill, and live life. You only get one and it excelerates the older you get. The boogey man is a childs fear of the unknown of the dark, and ideas have become boogeymen to otherwise intelligent people. Just turn on the lights!
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