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> Except that it seems to work. I'd still like to know according to who. Practically everyone agrees the economy is worsening for average people during many de

> Except that it seems to work. I'd still like to know according to who. Practically everyone agrees the economy is worsening for average people during many decades of nearly universal control by "mainstream" economists, advisors and bureaucrats.

throw0101d 2y ago
> Practically everyone agrees the economy is worsening for average people during many decades of nearly universal control by "mainstream" economists, advisors and bureaucrats. Look at the chart that this story is about: when things go negative, what do you think happened to people's employment opportunities? What do you think happened to their debts (deflation makes it worse)? Do you want to perhaps look at the economic historical record of the ~80 years before 1945: * https://en.wikipedia.org/wiki/Panic_of_1910–1911 https://en.wikipedia.org/wiki/Panic_of_1910–1911 * https://en.wikipedia.org/wiki/Panic_of_1901 https://en.wikipedia.org/wiki/Panic_of_1901 * https://en.wikipedia.org/wiki/Panic_of_1896 https://en.wikipedia.org/wiki/Panic_of_1896 * https://en.wikipedia.org/wiki/Panic_of_1896 https://en.wikipedia.org/wiki/Panic_of_1896 * https://en.wikipedia.org/wiki/Panic_of_1893 https://en.wikipedia.org/wiki/Panic_of_1893 * https://en.wikipedia.org/wiki/Panic_of_1873 https://en.wikipedia.org/wiki/Panic_of_1873 There have not been as near as many widespread economic collapses post-WW2 as there were pre-WW2. 2008 is probably the only one that came even close. The main contributor to the working class getting a raw deal since the ~1970s is (IMHO) the idea of shareholder value (primacy): * https://en.wikipedia.org/wiki/Friedman_doctrine https://en.wikipedia.org/wiki/Friedman_doctrine
- lurking15 2y ago
  the dominance of equities is something precisely caused by the shift in the monetary system in the 1970s, which ushered in devaluation of money and forced ordinary people to seek yields from investments in businesses

throw0101d 2y ago

> Practically everyone agrees the economy is worsening for average people during many decades of nearly universal control by "mainstream" economists, advisors and bureaucrats. Look at the chart that this story is about: when things go negative, what do you think happened to people's employment opportunities? What do you think happened to their debts (deflation makes it worse)? Do you want to perhaps look at the economic historical record of the ~80 years before 1945: * https://en.wikipedia.org/wiki/Panic_of_1910–1911 https://en.wikipedia.org/wiki/Panic_of_1910–1911 * https://en.wikipedia.org/wiki/Panic_of_1901 https://en.wikipedia.org/wiki/Panic_of_1901 * https://en.wikipedia.org/wiki/Panic_of_1896 https://en.wikipedia.org/wiki/Panic_of_1896 * https://en.wikipedia.org/wiki/Panic_of_1896 https://en.wikipedia.org/wiki/Panic_of_1896 * https://en.wikipedia.org/wiki/Panic_of_1893 https://en.wikipedia.org/wiki/Panic_of_1893 * https://en.wikipedia.org/wiki/Panic_of_1873 https://en.wikipedia.org/wiki/Panic_of_1873 There have not been as near as many widespread economic collapses post-WW2 as there were pre-WW2. 2008 is probably the only one that came even close. The main contributor to the working class getting a raw deal since the ~1970s is (IMHO) the idea of shareholder value (primacy): * https://en.wikipedia.org/wiki/Friedman_doctrine https://en.wikipedia.org/wiki/Friedman_doctrine

lurking15 2y ago
the dominance of equities is something precisely caused by the shift in the monetary system in the 1970s, which ushered in devaluation of money and forced ordinary people to seek yields from investments in businesses