2 ms·
>Unless you're proposing we print money Yes of course; with a quarterly growth GDP currently around 3%[1], we should and indeed do "print" money at related rat
by dexen 7y ago
>Unless you're proposing we print money
Yes of course; with a quarterly growth GDP currently around 3%[1], we should and indeed do "print" money at related rate. (again, with the assumption we're discussing USA here).
However my argument hinges on two other aspects: the system is open in regard to energy gathering and resource gathering. The system (again, assuming we're discussing USA) is also open in regard to outside trade - USA can't completely control the policy and state of economy of trade partners. Are you proposing we close up the borders and/or cap energy & resource extraction & waste recovery?
>without concerted effort on the side of the working class, the owning class will keep and push wages low while keeping the gains of growth to themselves
A salient observation.
>It's well known that efficiency has increased while wages have barely grown.
It is also well known the pool of labor supply has grown significantly.
I propose we slow down the supply of labor a bit, to help the price of labor go up naturally, without any forceful methods. Care to join me on this quest? It works well for every segment of work market where it's implemented: doctors, lawyers, licensed engineers, you name it.
[1] https://www.cbsnews.com/news/us-gdp-grew-3-2-in-the-first-quarter/ https://www.cbsnews.com/news/us-gdp-grew-3-2-in-the-first-qu...