Europe.Is.Doomed. (3) - poor Germany | 35 comments (35 topical, editorial, 0 hidden)

Re: Europe.Is.Doomed (2) - poor Germany (4.00 / 11)

So McKinsey predicts the decline of the middle-class and the emergence of a two-class society, playing on deep-seated fears to put pressure on politicians to actually do the things that would make their prediction true. Define irony.

"If you know your enemies and know yourself, you will not be imperiled in a hundred battles." Sun Tzu

by Turambar (sersguenda at hotmail com) on Mon May 5th, 2008 at 01:59:51 PM EST

Re: Europe.Is.Doomed (2) - poor Germany (4.00 / 6)

Didn't James McKinsey actually leave the company to put his management ideas into practice....and went bust. Just like most of the companies the consultants "helped".

If McKinsey advise, do the opposite.

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Mon May 5th, 2008 at 02:21:46 PM EST
[ Parent ]

What we need to do (4.00 / 9)

is invert the implied causality. They effectively say: there was low growth, thus people are getting poorer. Low growth appears to be endogenous - or caused by things like high taxes and regulation.

We need to say louder: low growth is caused by empoverished middle classes. It's the lack of wage increases that leads to low growth, not the other way round.

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Mon May 5th, 2008 at 02:30:49 PM EST
[ Parent ]

Re: What we need to do (4.00 / 4)

I'd rather low growth was caused by effective taxation of high earners....whatever multiple of median that is determined to be.

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Mon May 5th, 2008 at 02:43:10 PM EST
[ Parent ]

Europe.Is.Doomed. (3) - poor Germany | 35 comments (35 topical, 0 editorial, 0 hidden)

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