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I agree. If the facts fit with a liberal theory of reality, that’s not liberal bias. For example, after the financial crisis left wing economic theory made pre
by digitaltrees 9y ago
I agree. If the facts fit with a liberal theory of reality, that’s not liberal bias.
For example, after the financial crisis left wing economic theory made predictions: low interest rates would not lead to inflation; Government spending would not crowd out private investment but would work by stimulating demand. Etc.
Meanwhile right wing economic theory predicted hyperinflation which never came. Said that the biggest problem was government debt and deficits. Said that we had a structural imbalance of workers and job requirements so we would have perpetual long term unemployment. None of that happened.
So, if two theories make predictions and one set comes true, it doesn’t matter if it was liberal or conservative; it was just an accurate theory of reality.
Now we are told that corporate tax cuts will increase investment, increase GDP and lead to wage growth. Well that prediction was made under Bush; didn’t happen. It was made in Kansas; didn’t happen. So maybe the facts have a liberal bias.
I’ll make a prediction. Corporations will issue dividends about 1/3 of which will go to foreign stock holders. They will not increase wages with the excess cash. Any wage growth will be tied to reaching full employment. Corporations will not significantly increase capital investment in the US because the dollar will get stronger, the internal rate of return will be lower so their money will be better spent internationally. Let’s see what happens.