Friday , November 15 2024
Home / Mike Norman Economics / Tucker Carlson vs. Amy Peikoff on Whether Amazon/Jeff Bezos are Good For America

Tucker Carlson vs. Amy Peikoff on Whether Amazon/Jeff Bezos are Good For America

Summary:
Tucker Carlson argues with a libertarian on why should the tax payer subsidise his workers with food stamps when he is the richest man in the world and can easily afford to pay them more. Any Peikoff says it's not Jeff Bezos fault that the government subsidizes his workers and the benefit should be done away with.Libertarians believe in the meritocracy and so to them if a person is poor then it's their own fault. And so if a person suffers because he is poor, and if he gets exploited by the wealthy, and if his life is miserable, it is of no concern to anyone else because he gets what he deserves. There seems to be no humanity in this viewpoint.The brain is neuroplastic and middle class and upper class children get better nutrition and a more intellectually stimulating environment which

Topics:
Mike Norman considers the following as important:

This could be interesting, too:

Michael Hudson writes Beyond Surface Economics: The Case for Structural Reform

Mike Norman writes Oh no…Eva Langoria leaving the U.S.!!!

Merijn T. Knibbe writes Argentina bucks the trend. Vitamin A deficiencies are increasing

Mike Norman writes Wishful Thinking

Tucker Carlson argues with a libertarian on why should the tax payer subsidise his workers with food stamps when he is the richest man in the world and can easily afford to pay them more. Any Peikoff says it's not Jeff Bezos fault that the government subsidizes his workers and the benefit should be done away with.

Libertarians believe in the meritocracy and so to them if a person is poor then it's their own fault. And so if a person suffers because he is poor, and if he gets exploited by the wealthy, and if his life is miserable, it is of no concern to anyone else because he gets what he deserves. There seems to be no humanity in this viewpoint.

The brain is neuroplastic and middle class and upper class children get better nutrition and a more intellectually stimulating environment which greatly increases intelligence and confidence. But the poorest children often don't get this chance and can go on to repeat what their parents did and so stay poor. Throw in learned helplessness, where the poorest people often think there is no point in trying to get ahead because they believe they will always fail,  and you have a vicious circle which is difficult to break.

What sort of meritocracy is it when most libertarians have not been brought up in a very poor family and so got a massive leg up without doing anything for it? This leg up means they can ride on the backs of poorer people and live the good life.

The libertarians believe that all well if you leave the market alone without any government interference but this would create a very rich and powerful merchant class who will use their market power to forever force wages down. Every Chinese civilization collapsed because for the same reason, where a wealthy merchant class developed who then drove the middle class out of business, just like Jeff Bezos is doing today. Wages then collapsed and people lacked purchasing power to keep the economy going.  Capitalism has a fault line and needs to be regulated.


Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

Leave a Reply

Your email address will not be published. Required fields are marked *