Originally posted by Omega Vision
DDD, the whole reason we have government regulation today is because "voting with dollars" utterly failed to protect the public interest during the "golden age" that Ron Paul seeks to emulate.As Jon Stewart astutely pointed out in his interview with Rand Paul: government regulation didn't form in a vacuum, there was a valid social context to why this came about.
Inimalist pretty much replied with what I was going to.
I want to move away from direct regulation and put laws in place for how the commercial regulators should operate. And entire industry dedicated to various areas of regulation already exists an in a robust form. The Sherman Anti-Trust Act could equally apply to regulators. Criminal prosecution could occur if there is corruption in their regulation. Basically, regulate the regulators but don't regulate.
I cannot take credit for that idea: that came from Penn Jillete.
Originally posted by inimalist
I didn't say that.
I think you misunderstand my intentions. My intentions are not to back you into a fact corner and say, "AHA! Gotcha, b*tch!"
I tried to make that as obvious as possible with me, "I don't agree with everything Ron Paul says".
My point is to get some information on a gold standard to see why it is not all it is cracked up to be. My macroecon professor gave a huge-ass lecture/presentation on why a gold backed standard is not a good idea in this modern world and he gave a shit ton of reasons. I don't remember most of them, lol. But, I was wanting to get to the meat of why Ron Paul's "heyday" golden age isn't really...all that golden.
Originally posted by inimalist
My point would be closer to "The gold standard doesn't protect against massive wealth inequality", unfortunately, I thought the gold standard went back closer to the time of the industrial revolution, where wealth inequality would have been even more exceptional.
Well...the gold standard was used as far back as the 1790s when they passed the Mint and Coinage act. We should be able to see some data on exactly what you're looking for but the data itself does not go back very far so we can only have informed speculation. I don't think we incorporated income into our censuses until the last century. I could be wrong.
Originally posted by inimalist
Mairuzu's point about the massive influx of immigrants increasing the gap, in America, back then is probably relevant to the period you are talking about.
Oh shit, you're right. I should have thought of that considering my great grandparents, on my father's side, where those immigrants. 😬
Originally posted by inimalist
the measure didn't exist before the 60s and records on these sorts of demographic or statistical things didn't start to be collected on a massive scale until, idk, ww2?
Oh no, I know that. I was talking about the Ginni index, specifically, not extending before 1970 on all the places I looked.
The Ginni Index started being used in the early 50s, iirc.
Before the GI, there is still things like the census information we can pull from. But I do not think income data was collected before ......1920? 1930? Well, possibly that census information was not collected until after the Great Depression. I am speculating, of course.
Originally posted by inimalist
the specific stuff you are looking for doesn't exist outside of projections. You would probably have to contact people directly to access the type of stuff you are looking for, unless someone has specifically done the projections about the specific thing you are looking for.
Possibly. But some comparisons exist in text books and are common knowledge to economists and political pundits. The latter makes it their business to know stuff like that for talking points.
I am quite sure an analysis of income has been done and projected well passed 1920 (going in reverse). Someone has to have done it...
Originally posted by inimalist
I'll do the triple post because I missed replying to something similar to this with Mairuzu earlier and it has sort of come up again.[ugh, I was going to write this whole long parable thing, but I can't be bothered, so the shortened version:]
Paul's views, and sort of extreme libertarianism in general, are like, being on a boat and seeing someone drowning, and determining that you can't save them, not because it is too risky, not because you can't for any reason, but because you shouldn't, it is just not your job to help this person, especially if they are drowning because of mistake they made.
/spam
Actually, your example is quite good. Except that the person WOULD help the other person. It is the government that would not help the person. Basically, Paul would say, "That person in the boat shouldn't call the FBI to help a drowning person. That's how the system is run now. The person should get up and help them of their own accord IF they want to. There should be no legal obligation to do so."
Your example is definitely Randian but it is not in line with Ron Paul's "let the person, don't have the government force choices" approach to policy.