Desperate_Expert_952 t1_j8p9tou wrote on February 15, 2023 at 11:39 PM

Reply to comment by ExploitedAmerican in Push to boost RI minimum wage loses steam as public's interest is pulled to housing crisis by cowperthwaite

When you start off your statement by vilifying and entire discipline it makes it hard to take anything you say seriously.

Pain was going to come in two forms we had to pick.

Runaway inflation due to crap fed monetary policies for decades and multiple presidents OR stagnation of wages and rising of rates.

What we needed to avoid was stagflation as seen in the Carter presidency.

Pain was going to occur and runaway inflation hurts the poor the most.

ExploitedAmerican t1_j8pb2b2 wrote on February 15, 2023 at 11:48 PM

What we needed to avoid was legalizing stock buybacks, ending the gold standard, Shipping jobs to third world countries killing labor and unions so share holders can steal the surplus value produced by laborers instead of those companies taking care of those responsible for their luxurious silver spoon in mouth lives by providing them with real incentives to work hard. These days the only way to ensure you won’t have a retirement or own a home is to work as a blue or white collar laborer.

Even Einstein said that economics is not a real science and can not solve the issues associated with the modern world and capitalism. It is a school of thought that defends exploitation and explains its mathematical mechanisms. When you take away the exploitation apologist angle of economics you’re left with basic arithmetic nothing more.