tag:blogger.com,1999:blog-1500499634306365143.post7243095581396545229..comments2024-03-20T00:06:07.159-10:00Comments on News from 1930: The Irregular Blather Mar. 29, 1931ikedimhttp://www.blogger.com/profile/08850614066530391040noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-1500499634306365143.post-61190542339106003362010-04-02T04:46:49.682-10:002010-04-02T04:46:49.682-10:00Bruce - good point, and an important difference. A...Bruce - good point, and an important difference. Although I could argue, as Taleb does, that banking profits are largely fake (i.e. that banks always declare nice profits for a number of years, then lose it all and then some when the crisis comes). But there definitely is a difference in standard of living of the average banker vs. farmer :)<br /><br />Anyway, the surprise to me, as I said, isn't the fact that farmers were suffering economically (which I was aware of), but that this came in spite of a strong lobby that was able to enact a bunch of relief and protection measures.ikedimhttps://www.blogger.com/profile/08850614066530391040noreply@blogger.comtag:blogger.com,1999:blog-1500499634306365143.post-39601816206536401712010-04-01T22:51:24.506-10:002010-04-01T22:51:24.506-10:00The agricultural sector in the 1920s witnessed a m...The agricultural sector in the 1920s witnessed a marked decline in its share of national income.<br /><br />Banking and finance, and, by extension, corporate profits generally, have been increasing their share of the national income -- as they were, in the 1920s as well.Bruce Wilderhttps://www.blogger.com/profile/09631065564839959376noreply@blogger.com