Work has been ruined, no less with the help by the economist profession.

Huh? So he's not saying "don't work", he's just saying "don't ask for as high of salary"?

@tuberific454

Ай бұрын

It's more along the lines of John Galt economics than actual established doctrine. It's a byproduct of psychosocial political interpretations. By his own logic, which is flawed, he's an economist because he needs the money. It's a contradiction because by that reasoning there should be no such thing as inheritances. Yet, the so-called "free market" types are enamored with the concept of inheritances as by their reckoning to curb them is "socialism." So, by suggesting that UBI is better spent on improving income for the poor, he's suggesting that only those who work should see that money lest it be wasted on rewarding idle behavior. Again, this is false logic because it assigns totality of responsibility to the unemployed eg the "boot straps" myth. So, given the overall context of his blurb, it's reasonable to deduce that what he's really saying is that those who fixate on inequality are simply lacking inspiration.

Dr. Phelps I'm certainly on board with what you are saying about life being more meaningful if you can use imagination in your job and there are any number of us attempting start ups because of that drive (and not just money). However the difference between now and the period ending in the 1970s that you describe is that per capita investment in basic research is down and the amount of money required to innovate is way up. The problem is certainly not that all of us forgot the joy of innovation as you so condescendingly state. Nor is it that we are living in a period of "distorted" capitalism as you propose in other videos - innovation was always in spite of capitalism NOT because of it. Capitalism is concerned with the growth of EXISTING capital and that usually means monopolies and squashing new ways of doing things. Only adequate government funding in new research can prevent existing capital from prevailing and even then seed money must be available to productize that research as big corporations are not interested in undermining their cash cows.

So long as inovation is kept from corporate dominance, monopoly, and conglomeration it most definately be great for our world society as a whole.

capitalism is proving how unsustainable and unfixable it is. i support imagination and creativity, but the only people doing that do so out of necessity for survival, the capitalists are too comfortable on their yachts to innovate anything useful.

facist ideas

All those years of experience….and this is your solution? Have you learned nothing? Get off this dead horse

failed boomers

What a garbage take.

There is only one reason for this. Woke culture and lack of masculinity(testesterone ratios) which results in lack of free thinking and more conformism. 19th Century = Very Innovative = Very traditional society BUT ALSO VERY NON-CONFORMIST aka people are keep rejecting the norms, be it natural or social sciences. Non-conformism is a masculine virtiue. It is a form of aggression. 21th Century = Not Innovative = Very "liberal" society but a very conformist one: feminine virtue of submission and obediance to the norms which brings conformism and acceptance of norms and all the emotional drama around rejecting the norms and saying something new.

@Pinstripe6666

Ай бұрын

NO.

@thefaramith8876

Ай бұрын

@@Pinstripe6666 Yes, keep coping.

@Pinstripe6666

Ай бұрын

@@thefaramith8876 Stop talking like a child.

@thefaramith8876

Ай бұрын

@@Pinstripe6666 Says the person who types "NO" and has 666 in their name....

@Pinstripe6666

Ай бұрын

@@thefaramith8876 It's four sixes. Learn to count.