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Not sure how your comment relates to my prior comments. I did not argue for wage increases. And "increase productivity" does nothing to address ever-higher co
by bell-cot 8mo ago
Not sure how your comment relates to my prior comments. I did not argue for wage increases.
And "increase productivity" does nothing to address ever-higher costs of living which arise from https://en.wikipedia.org/wiki/Rent-seeking https://en.wikipedia.org/wiki/Rent-seeking abuses.
- PaulHoule 8mo agoWell I dunno what to think about the argument here https://www.thebignewsletter.com/ https://www.thebignewsletter.com/ which I think has an element of truth to it but that it also comes out of a need people have to believe that all problems are caused by a conspiracy of a few sinister people. Like it or not, people don't believe in markets and they don't believe in government. Maybe they are right to not believe in these things but in a certain sense it becomes a self-reinforcing pose.
- curio_Pol_curio 8mo agoDemocracy is the continuation of the market with a vocal means --not Taylor Swift
- curio_Pol_curio 8mo agoSorry to cut in. This debate made me wonder whether the Feds' inflation target is orthodox economists' idea of a positive-sum game. (Let's assume for the sake of curiosity that political-economists don't yet know about the second Law of thermodynamics, AND that exogenous factors like Fords/Jobs are highly unlikely-- see Paul Romer https://en.wikipedia.org/wiki/Endogenous_growth_theory#Versus_exogenous_growth_theory https://en.wikipedia.org/wiki/Endogenous_growth_theory#Versu... ) Consider that UBI (or wage increases) can be either inflationary or deflationary, contingent on implementation. Although commenters tend to assume one or the other. Consider also that Japan is moving into an inflationary regime (whether premeditated or not, we will soon have data with which to compare JP, PRC _and_ ROC, the last one to be taken as a continuation of Abenomics)