If central banks of the western world had run countercyclical monetary policy meaning higher than average inflation when unemployment was high, these people wou

If central banks of the western world had run countercyclical monetary policy meaning higher than average inflation when unemployment was high, these people would have had almost uninterrupted jobs and careers, not just people in educated urban centers. I know people don't grasp this because it is all very mathematical but hawkish monetary policy was a massive factor in this. This graph summarizes the situation: https://twitter.com/kocherlakota009/status/796190076921376769 https://twitter.com/kocherlakota009/status/79619007692137676... Here is my attempt at an explanation: https://medium.com/@b.essiambre/the-world-deserves-a-pay-raise-302f25efd82a#.pf6u86wtc https://medium.com/@b.essiambre/the-world-deserves-a-pay-rai... But also taking a more sociological perspective, if you haven't seen it, this Cracked analysis is worth a read: http://www.cracked.com/blog/6-reasons-trumps-rise-that-no-one-talks-about/ http://www.cracked.com/blog/6-reasons-trumps-rise-that-no-on... As well as this older Scott Alexander post: http://slatestarcodex.com/2014/09/30/i-can-tolerate-anything-except-the-outgroup/ http://slatestarcodex.com/2014/09/30/i-can-tolerate-anything...