Comments on: New Ideas Needed - Please http://peacecorpsworldwide.org/new-economy/2012/10/09/new-ideas-needed-please/ The financial crisis of 2008 has ushered in a new facet of the “New Economy.” Whatever you say about the origins and course of this financial crisis, this new dramatic development will be a major influence in our economic future. I will discuss the financial crisis and where it has led us. I will then look at how this “New Economy” will affect your job prospects, investment strategies, retirement plans, personal finance. We are in an entirely new phase of our economic progress reinforced by a new administration coming into office. It will be exciting to some and of concern to others. But we all must understand it and use it to our advantage. — Leo Cecchini (Ethiopia 1962–64) Wed, 19 Jun 2013 00:39:39 +0000 http://wordpress.org/?v=2.7 hourly 1 By: Leo Cecchini http://peacecorpsworldwide.org/new-economy/2012/10/09/new-ideas-needed-please/comment-page-1/#comment-441 Leo Cecchini Fri, 12 Oct 2012 16:02:58 +0000 http://peacecorpsworldwide.org/new-economy/?p=2385#comment-441 Joey. We produce plenty to feed our children the problem is how we distribute the output. Joey. We produce plenty to feed our children the problem is how we distribute the output.

]]> By: Joey http://peacecorpsworldwide.org/new-economy/2012/10/09/new-ideas-needed-please/comment-page-1/#comment-440 Joey Thu, 11 Oct 2012 16:22:08 +0000 http://peacecorpsworldwide.org/new-economy/?p=2385#comment-440 Or feed his children? Or feed his children?

]]> By: Leo Cecchini http://peacecorpsworldwide.org/new-economy/2012/10/09/new-ideas-needed-please/comment-page-1/#comment-439 Leo Cecchini Thu, 11 Oct 2012 14:56:19 +0000 http://peacecorpsworldwide.org/new-economy/?p=2385#comment-439 Joey. You are right, the consumer based economy has its flaws as does capitalism (see my serveral blogs on this theme). The basic problem is not planned obsolesence but the need to have a job in order to be a member of our society. We can produce all we need with far fewer people working but how does one participate in the output if he has not provided any input? That is the problem. Joey. You are right, the consumer based economy has its flaws as does capitalism (see my serveral blogs on this theme). The basic problem is not planned obsolesence but the need to have a job in order to be a member of our society. We can produce all we need with far fewer people working but how does one participate in the output if he has not provided any input? That is the problem.

]]> By: Joey http://peacecorpsworldwide.org/new-economy/2012/10/09/new-ideas-needed-please/comment-page-1/#comment-437 Joey Tue, 09 Oct 2012 15:11:24 +0000 http://peacecorpsworldwide.org/new-economy/?p=2385#comment-437 Leo, I think you have summarized the dilemma of a consumer based economy. I remember the term "planned obsolescence" from the fifties where companies had to keep creating a marketing campaign for the latest item that would make earlier models obsolete, even if they were still useful, in order to keep generating sales, profits and tax revenue. For those of us concerned about environmental destruction, then the reduction in the use of those resources is a good thing. For those of us concerned about "unintended consequences" from developing technology, the slow down is also a good thing. But, neither of these factors help the economy grow. I don't have answers. Certainly, the government could pump more money into the economy by investing in infrastructure. I also see a problem with lower or no capital gain taxes. Companies and individuals could keep more of their money, but there is nothing to keep them from socking it away overseas. Leo,

I think you have summarized the dilemma of a consumer based economy. I remember the term “planned obsolescence” from the fifties where companies had to keep creating a marketing campaign for the latest item that would make earlier models obsolete, even if they were still useful, in order to keep generating sales, profits and tax revenue.

For those of us concerned about environmental destruction, then the reduction in the use of those resources is a good thing. For those of us concerned about “unintended consequences” from developing technology, the slow down is also a good thing. But, neither of these
factors help the economy grow.

I don’t have answers. Certainly, the government could pump more money into the economy by investing in infrastructure. I also see a problem with lower or no capital gain taxes. Companies and individuals could keep more of their money, but there is nothing to keep them from socking it away overseas.

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