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What is ideological? Your responses indicates you have no understanding of nuance or magnitude in policy. Was it an all or nothing situation? No, not at all. S
by adam_arthur 4y ago
What is ideological? Your responses indicates you have no understanding of nuance or magnitude in policy.
Was it an all or nothing situation? No, not at all. So either you're being intentionally misleading, or lack critical thinking. The option in front of politicians wasn't do these bills in this exact form or nothing at all. Why act like it was? It's a false premise.
Is it due to a bias in trying to justify the inflationary result?
And you seem to lack understanding of the consequence of high inflation, which inevitably will be higher unemployment, hurting those you sought to help. Study any history of the relationship between monetary policy, inflation, and unemployment and it's pretty obvious.
- gamblor956 4y agoLOLOLOL. I worked on economics policy in a prior life. I've forgotten more about economic policy than you've ever known. Inflation is not a bad thing; in fact, low-to-moderate inflation is desired. High inflation is not because it generally means that base or fixed cost growth (i.e., food and oil) is outpacing productive growth (pretty much everything else). The option in front of politicians wasn't do these bills in this exact form or nothing at all. Why act like it was? It's a false premise. No it wasn't, but it was the best package they could put together, and it took months to get that far due to ideologues blocking better/more efficient options. It's for armchair economists like you to debate the theoretical perfect relief package that they should have passed, in the non-existent fantasy la la land where that would have been possible. Of course, in that fantasy land, COVID wouldn't have happened, and our economy would not have become dependent on JIT inventory.