Our Great Unfinished Business

Reflections on the President's speech - March on Washington 50th anniversary.

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Our Great Unfinished Business by Mind Map: Our Great Unfinished Business

1. Income Inequality

1.1. Positive Economic Data

1.1.1. Decile Raito

1.1.2. Lorenze Curve

1.1.3. Gini ratios

2. Collapse of Housing Market

2.1. Near Collapse of World Economy

3. Increase in Property Crimes

3.1. Fraudulent Transactions

3.1.1. White Collar Crime

3.1.2. Ill gotten gains / Anything for a buck

3.1.2.1. Erosion of Trust

3.1.2.1.1. Economic Systems rely on Trust relationships

3.1.2.1.2. In the absence of Trust, all economic data becomes suspect and unreliable, and as a result most transactions cease because of a heightened fear of loss and rampant market uncertainty.

3.1.2.1.3. Uncertainty is death to a market economy grounded on reliable data, and trust relationships.

3.1.3. Love of gain overrides fear of loss, and individuals engage in unacceptable risk taking due to the lure of high gains while ignoring the possibility of high losses.

4. The Disparity in Wealth

5. The Politics of Avarice

5.1. Upward Redistribution of Income

5.1.1. Structure of Tax Laws

5.1.1.1. Corporate Welfare

5.1.2. False Economic Justification

5.1.2.1. The Wealthy Create Jobs

5.1.2.2. Greater Marginal Propensity to Save

5.1.2.2.1. Increase in Income invested in second homes, offshore accounts, and precious metals.

5.1.2.3. Aggregate Demand actual creator of Jobs

5.1.2.3.1. Successful entrepreneurs have the unique ability to recognize demand within the market and devise innovative business models that meet that demand.

5.2. Selfishness elevated to a Virtue

5.2.1. Social Darwinism

5.2.1.1. Competition Driven

5.2.1.2. Survival of the Fittest

5.2.1.3. Zero Sum Game

5.2.1.3.1. Negative Competition

5.2.1.3.2. Form of Warfare

5.2.1.3.3. Gain at others expense

5.3. Selflessness demoted to a Vice

5.3.1. Charity and Generosity are vilified as Socialism

5.3.2. Phobia of Charity begetting Dependency

5.3.2.1. Natural Dependency of young and elderly ignored.

5.3.3. Phobia of a Welfare State