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The US government can do that. What they can't do is prevent the resulting inflation. That inflation will wipe out the gains the auto workers get from the rai
by AnimalMuppet 3y ago
The US government can do that. What they can't do is prevent the resulting inflation. That inflation will wipe out the gains the auto workers get from the raises they get from this strike. Those who don't work for auto makers (and so didn't get the raises in the first place) will be far worse off.
You can't print your way to prosperity.
- toomuchtodo 3y agoYou can’t automate your way to prosperity either if you assume you can do so to vacuum up productivity as dividends and share buybacks. Velocity of money is what keeps the economy moving, not the wealthy hoarding aggregate productivity (while providing crumbs to the lower socioeconomic strata). People who spend must have the ability to earn. That spending is what drives the economy. As the cliche goes, “the stock market is not the economy.”