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Registered Sep 15, 2009

david1's most recent comments:

• On 13 May 2013 in Crony capitalism = both a corruption of capitalism and a corruption of morals, david1 said:

  indigenous says
  

  This is the fundamental fallacy with Keynes. It is bogus. As is the absurd
  zero sum game BS. Life is not a zero sum game.

  Well then explain your point. If what Iwog says is untrue, then correlation between income equality and economic well-being would be difficult to explain away, I think.

  Surely you must have a real world reason or example why it is fallacious?

• On 10 May 2013 in Crony capitalism = both a corruption of capitalism and a corruption of morals, david1 said:

  iwog says
  

  He's SO wrong that showing him up is as simple as linking Wiki:

  He isn't wrong. Only the final product is counted. For a car, the price of the materials to make the car isn't double counted - it is counted when the car is sold. At a granular level - it really is just the profit.

  Think about it - if the fortune 500 are 73% of GDP as bill said, and federal government expenditures are 23%, and net imports are -4%, that is 92%. You really think that all spending by state and local governments, plus economic activity outside the fortune 500 only accounts for 8%? No.

• On 10 May 2013 in Crony capitalism = both a corruption of capitalism and a corruption of morals, david1 said:

  Reality says
  

  how is that fundamentally different from a gang of vandals?

  This is not related to my point. It wouldn't be, btw. I was simply contradicting your point that "only corporate profit" contributes to GDP.

  Are you claiming that if every unprofitable corporation were eliminated, there would be no net effect on GDP?

  You know there are unstream and downstream relationships that would be damaged. You know the workers unemployment (if even temporary) would damage GDP. So just admit a Company contributes more to GDP than simply its profit.