3 ms·
>I'm not an economist but every other time similar things have happened in industry the economy has balanced out. "The economy" did not "balance out". "The ec
by eli_gottlieb 10y ago
>I'm not an economist but every other time similar things have happened in industry the economy has balanced out.
"The economy" did not "balance out". "The economy" is not an active agent. The economy was politically managed -- for instance, via the Fed's original mandate to encourage full employment. What prevents similar management taking place today is ideological opposition to it.
- daniel_levine 10y agoThe Fed adding improving employment to natural zero to it's mandate post Great Recession alongside controlling inflation, seems to imply that the ideological opposition isn't that strong.