Jul. 30th, 2019
TIL: Poverty in Japan
Jul. 30th, 2019 02:10 pm
Many conservatives in the U.S. believe that poverty is mainly a result of bad personal decisions. African-Americans are especially likely to be blamed for their own poverty -- an attitude that some political scientists call racial resentment.
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So Japanese people are doing everything right -- eschewing violence, avoiding drugs, working hard and not having kids out of wedlock. They are following the conservative prescription, as well as or better than any other developed country in the world. And yet still, many of them are poor. This suggests that there is something very wrong with the conservative theory of poverty.
https://www.bloomberg.com/opinion/articles/2019-07-30/u-s-economy-personal-bad-behavior-isn-t-what-causes-poverty
(no subject)
Jul. 30th, 2019 04:26 pmIt is necessary to abandon the concept, found in Plato, that in order to discuss correctly about any thing, one must first know its true nature. The value that goods have on the market is a fact; we can look for its laws without knowing from where that fact originates. It goes without saying that if someone is able to connect that fact to another, more general fact, that will be all the better for our science [Political Economy].
-- Wilfred Pareto. Considerations on the Fundamental Principles of Pure Political Economy.
Two breakthrough concepts — proof (Ancient Greeks) and free markets (North European Enlightenment) — were successfully absorbed and adapted by Asian powers in the late 20th century. The West needs to come up with another breakthrough to stay competitive in the 21st and beyond.