A Quote by William Vickrey
Firms would be given initial entitlements to gross markup on the basis of past performance. These entitlements would be transferable and a market in them would be developed.
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Firms would be given initial entitlements to gross markup on the basis of past performance, adjusted by changes in labor and capital inputs. This is somewhat similar to the definition of normal profits under some versions of the wartime excess -profits tax. Entitlements would be transferable and a competitive market established.
I know that there are many excellent arguments for a universal form of basic income. Since everyone would get it, it would remove the stigma that dogs recipients of assistance and 'entitlements'.
We need to resist the temptation to create more entitlements and more entitlements, which is one of the reasons we are heading recklessly toward fiscal crisis.
If you were to just design the perfect retirement plan, you would own the stock market or you would own the bond market. You would get all the costs or all that you possibly could out of the system. So on an annual basis, if the market went up 8 percent, you would get 7.8 or 7.9 percent.
There are two important things to remember about 'entitlements': They are hugely popular programs for a very good reason, and actual sensible 'reform' would mean improving them, not sacrificing them at the altar of 'fiscal responsibility.'
Democrats believe, plausibly, that middle-class entitlements are instantly addictive and, because there is no known detoxification, that class, when facing future choices between trimming entitlements or increasing taxes, will choose the latter.
An institution that borrows on a non-prioritized basis would never contemplate borrowing on a prioritized basis. Doing so would undermine its standing in the bond market and suggest that it is not worthy of its strong credit rating. This type of self-imposed downgrade would materially affect its financial prospects.
By taxing CO2, firms and households would have an incentive to retrofit for the world of the future. The tax would also provide firms with incentives to innovate in ways that reduce energy usage and emissions - giving them a dynamic competitive advantage.
In a pure capitalist system, an institution as moronic and corrupt as Bank of America would be swiftly punished by the market - the executives would get to loot their own firms once, then they'd be looking for jobs again.
The real number of the US' obligations, unfunded obligations that we're passing on to our future generates is more like $70 trillion to $75 trillion. The vast majority of that is health entitlements - Medicare, Obamacare, Medicaid. There's also Social Security, interest on the debt. But fundamentally, health entitlements are the thing that will bankrupt our kids. We need to fix that for the long-term.
I believe that any attempt on the part of a libertarian communist society to abridge the rights of a community - for example, to operate on the basis of a market economy of the kind that you describe - would be unforgivable, and I would oppose the practices of such a society as militantly as I think any reader of your publication would.
People like entitlements. That's why we spend so much on them.
Well, you would have to say what is the criteria to determine the success of any merger? It would have to be that the companies are stronger financially, that they took market share, and they are on a very steady footing in terms of their performance.
It would have to stand on the basis of what somebody had done to it and that would be the basis on which it would be judged. So it's a funny art form. You gain a great deal when you have good collaborators and sometimes people just don't understand what you've done.
In my time, if your performance was good, you would get the award. It would be a nail-biting experience. We would always be curious whether our name would be announced as the winner.
There are three legs of the stool; spending, entitlements and making the tax code fair and equitable. That's the three legs of the stool. If we do all of those in a responsible, bipartisan way, I think the American people would all be very, very happy.
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