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That’s the thing that makes me question the whole Keynesian/ interest rate setting problem, you cannot know if you are living in good times are bad times. That
by kmonsen 4y ago
That’s the thing that makes me question the whole Keynesian/ interest rate setting problem, you cannot know if you are living in good times are bad times. That requires knowledge of the future.
Let’s say all of this is due to the war in Russia, or in some alternate reality China carpet bombs Taiwan, if you thought you were living in bad times before the event you are in for a rude awakening. It’s the same as black swans and cannot really work over time.
- coffeebeqn 4y agoYou know if unemployment is low and the economy is having solid growth at the time.
- kmonsen 4y agoYou mean like right now? I understand this is a bit snarky, but I think it perfectly makes my point clear. By some metrics right now looks like a golden age, by other metrics it looks like staring into the abyss.
- coffeebeqn 4y agoPersonally I’m still divided on the current situation. I’m not sure why we as workers would view very low unemployment as anything other than amazing. Our overlords seem to hate that workers have bargaining power finally and are doing everything they can to end it