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no source is absolute. neither this, nor the advertising spread into everything the senses may behold. that said, while i do notice not all things are displayed fully and responsibly in this, the majority of ideas are logically sound and are represented correctly.
the truth may not be an American dream, but to change your reality you must first understand it.
Great vid.
I'm just so appalled how much time the people in the U.S. can spend in shopping and watching tv. Haven't you guys anything more fun to do? I don't understand this.
And why do people really consume that much anyway? Are they really so afraid of other people laughing at them if they don't have the newest thing? Do they really think they will be happier consuming?
Chill people chill, do something else than buy all the time. If you read this pass it on to other people please.
Stuff...
@calorus Another fallacy that the video invokes with so much enthusiasm is that lower wages imply lower welfare. But thats not true, as you could observe if you solve a General Equilibrium Model and increase the ammount of labour, the wages may fall but certainly the level of social welfare will be increased
@calorus Thats not true. If you solve a General Equilibrium Model of a Free Market Economy with decreasing returns to scale the prices variable isnt entirely dependant on wages, but also on rents and the volume of production. Even when the model has constant returns to scale the relationship that defines the prices is composed of wages and rents of the other factors of production.
Don´t be lazy and search a little more.
@zeezoomzoom
Women should abort MALE foetuses
then the world would be a better, more intelligent place.
@gofindjeff seems that nothing is more scary than the word "socialism" for americans! hahaha
Very interesting thanks for that, you are definitely on the ball about a fat government.!
@leidenzfontjp - race, class and nationality are no factor in the sense of your opinions.
What confuses me most however is the idea that what you're arguing about - namely the low-wages/low-prices part is something that no-one argues about because it's plainly obvious, both conceptually and empirically,
Some of cheapest goods come from Vietnam, some of the lowest manufacturing costs are in Vietnam, some of the lowest wages are in Vietnam. - Same in India, same in Ghana, same in China.
Daft.
I think I am somehow contributing to that gold arrow watching this video.