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New That's not optimism. That's delusional.
Karl Marx in his day could not believe the volume of production could possibly expand enough to reemploy those who lost their jobs as handloom weavers as well-paid machine-minders or carpet-sellers. He was wrong. The optimistic view is that our collective ingenuity will create so many things for people to do that are so attractive to the rich that they will pay through the nose for them and so recreate a middle-class society.

Um, care to consider this: http://www.shadowsta...employment-charts

Median income in the US (adjusted for inflation) between 1999 and 2012 FELL from $56,080 to $51,017. That's a 9 percent drop in median wages!

Right, tell me again how the rich are going to "pay through the nose."
New DeLong is an economist with a strong interest in history.
His Socratic-esq dialogs are entertaining - e.g. http://delong.typepa...ncial-crisis.html

He knows that it's perfectly within the capabilities of our leadership to fix our economic problems. The economics is well understood. I think that's what he's getting at - he doesn't accept that it's inevitable that we'll slouch toward the 1% owning everything and an eventual revolution of the proletariat.

He pulls his hair out like all of us over the stupidity of our politics - https://www.google.c...t+vote+republican

He's not saying our destiny is to tax the rich and have more leisure time. That is a possible outcome - we know how to do it - but it's not inevitable.

Now whether he's given a fair summary of Marx, I can't say. Marx wrote a lot and I've only read a little of his writing.

If you like graphs of how far we've fallen and where we are in our recovery, then you should read Calculated Risk if you aren't already - http://www.calculatedriskblog.com

You're welcome! ;-)

Cheers,
Scott.
     Dean Baker: Don't fear the robot overlords. - (Another Scott) - (33)
         Ever the apologist. - (mmoffitt) - (32)
             Eh? -NT - (Another Scott) - (22)
                 Capitalism is the enemy of the People. - (mmoffitt) - (21)
                     Wasn't aware that we weren't Capitalists in the pre-1970s... - (Another Scott) - (20)
                         he has point, as do you - (crazy) - (1)
                             Concur. Sadly. -NT - (mmoffitt)
                         Was speaking of productivity gains. - (mmoffitt) - (17)
                             I agree with Reich's thesis. - (Another Scott) - (16)
                                 On Capitalism's "Success". - (mmoffitt) - (15)
                                     Meh. - (Another Scott) - (14)
                                         Heh. Back to "the lessor of two evils" are we? - (mmoffitt) - (13)
                                             Better is better - (drook) - (8)
                                                 Tilting at windmills - (crazy)
                                                 Regulating the ever-loving shit out of employers works -NT - (pwhysall) - (1)
                                                     What he ^ said. -NT - (mmoffitt)
                                                 I don't know how many more times ... - (mmoffitt) - (4)
                                                     Some good points. - (Another Scott) - (3)
                                                         That's not optimism. That's delusional. - (mmoffitt) - (1)
                                                             DeLong is an economist with a strong interest in history. - (Another Scott)
                                                         And Thanks! - (mmoffitt)
                                             LessEr. LessOr is opposite of Lessee... - (CRConrad) - (3)
                                                 Miss the quotation marks around it? ;0) -NT - (mmoffitt) - (2)
                                                     Those are around the whole expression. - (CRConrad) - (1)
                                                         I yield. ;0) -NT - (mmoffitt)
             the bigger problem - (boxley) - (8)
                 Hey! - (Another Scott) - (3)
                     It all depends on being born into the right family . . . - (Andrew Grygus) - (2)
                         Not true - (crazy) - (1)
                             But ... - (drook)
                 This could be just-as-Big. Maybe terminal--for most of us. - (Ashton) - (3)
                     so you own nothing, the government rents it to you no thx -NT - (boxley) - (1)
                         Digital-think slogans can not be reasoned-with (or against.) -NT - (Ashton)
                     Well, you're right about that... - (dmcarls)

"There are two major products that come from Berkeley: LSD and UNIX. We don't believe this to be a coincidence." -- Jeremy S. Anderson
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