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by dnautics
2337 days ago
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I think these policies over decades are why we have inequality. While the political class likes to show solidarity with the working class by punishing the wealthy, probably the working class actually cares more about not being stolen from (which to be fair many of the wealthy do). Except for the fact that these policies are explicitly designed to steal from the working class without notice by anyone. https://krugman.blogs.nytimes.com/2010/02/13/the-case-for-hi... > Yet when you have very low inflation, getting relative wages right would require that a significant number of workers take wage cuts. So having a somewhat higher inflation rate would lead to lower unemployment, not just temporarily, but on a sustained basis. Furthermore, correlation is not causation, but if you look at graphs of when economic productivity diverges from worker compensation (https://www.epi.org/productivity-pay-gap/) the systemic divergence occurs suspiciously close to 1972, which is right after Nixon Shock, when the dollar ceased to be tethered to a neutral third party (flawed though it may be) and began to solely be in hands of policy interests. Yes, the EPI draws the line at 1979, but really? Do we not have eyes? |
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