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Economic illiteracy is rife everywhere, because it's been deliberately seeded. In the UK workers who haven't had a significant pay rise for more than a decade a
by TheOtherHobbes 4y ago
Economic illiteracy is rife everywhere, because it's been deliberately seeded. In the UK workers who haven't had a significant pay rise for more than a decade are being told they can't have one now because it would be inflationary. Meanwhile the real drivers of inflation are an energy price shock - again - and corporate profiteering.
But that's not the official narrative. So perhaps if you want to think about politically-driven decision making you might want to include the network of funded think-tanks and both covert and overt influencers in the media who invent and push these narratives. And maybe even consider why they're so dominant, and why their definitions of "freedom" and "economics" are so consistently and exclusively pro-oligarch.
- zozbot234 4y agoThe real driver of inflation and low workers' wages is lack of attention to long-term growth potential. This is not a partisan issue, least of all in the UK; both sides have done things that hurt long-term growth. By way of example, we're still waiting for those billions that the Brexit folks once promised as increased NHS funding.