generic image
Processing...
  • Games
  • Catalog
  • Develop
  • Robux
  • Search in Players
  • Search in Games
  • Search in Catalog
  • Search in Groups
  • Search in Library
  • Log In
  • Sign Up
  • Games
  • Catalog
  • Develop
  • Robux
   
ROBLOX Forum » ROBLOX Global » World Wide Chat
Home Search
 

Re: Labor and the Business Cycle

Previous Thread :: Next Thread 
MahPizzaIsHere is not online. MahPizzaIsHere
Joined: 30 Apr 2011
Total Posts: 7707
01 Dec 2012 10:25 PM
Before Labor had any real power, the market had indubitable control over wages. Recessions were met with steep cuts in pay almost immediately. However, these cuts were accompanied by deep slashes in the aggregate price level. Workers were (or at least claimed to be) burdened by a volatile nominal wage, but enjoyed relatively little change in purchasing power. Recessions were brief; the market could move back to equilibrium quickly.

When Labor gained power, they understandably lobbied for minimum wages, unionization, etc. Lobbying efforts were met with appreciable success. Little did they know that they were shooting themselves in the foot; wages and prices became "sticky" (as Keynes would put it). Labor was no longer endangered by wage cuts, but the market was not allowed to immediately correct itself. Recessions were extended as the invisible hand was tied.

Ultimately we had the Great Depression and Lord Keynes found that the only way out of troughs in the business cycle was to stimulate aggregate demand. Yay.
Report Abuse
The0Arctic0Fox is not online. The0Arctic0Fox
Joined: 08 May 2012
Total Posts: 2861
01 Dec 2012 10:29 PM
>Lord Keynes


One of the few people who deserve a royal title.
Report Abuse
MahPizzaIsHere is not online. MahPizzaIsHere
Joined: 30 Apr 2011
Total Posts: 7707
02 Dec 2012 08:32 AM
Yeah, he was pretty brilliant.
Report Abuse
Twigs180 is not online. Twigs180
Joined: 10 Mar 2008
Total Posts: 18664
02 Dec 2012 11:36 AM
Of course, recessions wouldn't be so severe if we just keep to the Austrian business model, increase free trade, and tell government to stop playing the markets in their favor.
Report Abuse
MahPizzaIsHere is not online. MahPizzaIsHere
Joined: 30 Apr 2011
Total Posts: 7707
02 Dec 2012 12:23 PM
The market doesn't really contain any mechanism to moderate the severity of recessions, it just keeps them short if left alone.
Report Abuse
The0Arctic0Fox is not online. The0Arctic0Fox
Joined: 08 May 2012
Total Posts: 2861
02 Dec 2012 12:34 PM
^

If you want Capitalism alive and well, you better save it from it collapsing, or great depressions will do it on marx style.
Report Abuse
MahPizzaIsHere is not online. MahPizzaIsHere
Joined: 30 Apr 2011
Total Posts: 7707
02 Dec 2012 12:58 PM
Erm, I guess. I'm very skeptical about Marx's theory of collapse, since so much of it appears to hinge on surplus value.
Report Abuse
DanBloxTheGreat is not online. DanBloxTheGreat
Joined: 01 Oct 2011
Total Posts: 2029
02 Dec 2012 01:02 PM
I don't think we'll ever know what a real communist country would be, and we may never know if Marx's ideas were good.

If only Brittain had done a revolution an dnot Russia, we would've beenn able to see teh best candidate for Communsim
Report Abuse
The0Arctic0Fox is not online. The0Arctic0Fox
Joined: 08 May 2012
Total Posts: 2861
02 Dec 2012 01:04 PM
According the Marx, Usa would have been the best candidate, and still is.
Report Abuse
MahPizzaIsHere is not online. MahPizzaIsHere
Joined: 30 Apr 2011
Total Posts: 7707
02 Dec 2012 01:09 PM
Yes, mostly because we have a representative democracy.
Report Abuse
MahPizzaIsHere is not online. MahPizzaIsHere
Joined: 30 Apr 2011
Total Posts: 7707
02 Dec 2012 01:10 PM
Brittain had done a revolution an dnot Russia

____

Are you simply not familiar with Britain prior to 1914?
Report Abuse
The0Arctic0Fox is not online. The0Arctic0Fox
Joined: 08 May 2012
Total Posts: 2861
02 Dec 2012 01:12 PM
mostly because Usa is technically the most advanced country, or at least the mot advanced with a large enough population to have an effective economy and war machine.
Report Abuse
Vocalization is not online. Vocalization
Joined: 04 Sep 2012
Total Posts: 1260
02 Dec 2012 01:13 PM
Malta is a war machine and effective economy with little population.
Report Abuse
MahPizzaIsHere is not online. MahPizzaIsHere
Joined: 30 Apr 2011
Total Posts: 7707
02 Dec 2012 01:41 PM
I was talking about why capitalism could fail, haha. I guess if Marx focused on the US for other reasons that's okay too.
Report Abuse
gamert7newalt3333 is not online. gamert7newalt3333
Joined: 11 Jun 2012
Total Posts: 216
02 Dec 2012 01:49 PM
[ Content Deleted ]
Report Abuse
MahPizzaIsHere is not online. MahPizzaIsHere
Joined: 30 Apr 2011
Total Posts: 7707
02 Dec 2012 01:56 PM
Meanwhile, Hoover... xD
Report Abuse
DanBloxTheGreat is not online. DanBloxTheGreat
Joined: 01 Oct 2011
Total Posts: 2029
02 Dec 2012 01:58 PM
^lol
Report Abuse
gamert7newalt3333 is not online. gamert7newalt3333
Joined: 11 Jun 2012
Total Posts: 216
02 Dec 2012 01:59 PM
[ Content Deleted ]
Report Abuse
MahPizzaIsHere is not online. MahPizzaIsHere
Joined: 30 Apr 2011
Total Posts: 7707
02 Dec 2012 02:09 PM
Explain further pls.
Report Abuse
gamert7newalt3333 is not online. gamert7newalt3333
Joined: 11 Jun 2012
Total Posts: 216
02 Dec 2012 02:10 PM
[ Content Deleted ]
Report Abuse
The0Arctic0Fox is not online. The0Arctic0Fox
Joined: 08 May 2012
Total Posts: 2861
03 Dec 2012 04:11 PM
Citation needed?
Report Abuse
Ryplayer is not online. Ryplayer
Joined: 06 Jul 2007
Total Posts: 6484
03 Dec 2012 04:24 PM
Lots of cities in the UK in the early 20th century had massive communist movements largely made up of industrial workers. There were tanks on Glasgow at one point because the civil unrest and support for communism was such that the government feared a bolshevik-style revolution.

Red Clydeside movement.
Report Abuse
Previous Thread :: Next Thread 
Page 1 of 1
 
 
ROBLOX Forum » ROBLOX Global » World Wide Chat
   
 
   
  • About Us
  • Jobs
  • Blog
  • Parents
  • Help
  • Terms
  • Privacy

©2017 Roblox Corporation. Roblox, the Roblox logo, Robux, Bloxy, and Powering Imagination are among our registered and unregistered trademarks in the U.S. and other countries.



Progress
Starting Roblox...
Connecting to Players...
R R

Roblox is now loading. Get ready to play!

R R

You're moments away from getting into the game!

Click here for help

Check Remember my choice and click Launch Application in the dialog box above to join games faster in the future!

Gameplay sponsored by:
Loading 0% - Starting game...
Get more with Builders Club! Join Builders Club
Choose Your Avatar
I have an account
generic image