This and anti-cyclical spending avoiding depressions are the only two real¹ predictions from the guy that basically invented macroeconomics.
No politician cares about either of them.
1 - Meaning about things people actually need, not money.
Comment on three cheers for fate!
uriel238@lemmy.blahaj.zone 1 day agoTo be fair, when I took Economics 101: Macroeconomics in 1985, there was a big point about how important it was to maintain a fairly even wealth distribution, with a discussion of how it is a very bad thing™ for all the wealth to consolidate at the top. (In the meantime, Reagan was gutting all the policies that were used to keep wealth distributed and preserve a strong middle class.) So this is something that anyone who took a basic college course should know.
In time, I got confused that presidents and legislators kept pushing supply side (trickle-down) economics and kept passing laws that allowed the upper class to keep more of their money, while leaving the lower and middle classes to languish, when I was certain these officials were educated (or had experts who were) and should know better. Then I worked out that they are just captured and corrupt AF.
marcos@lemmy.world 1 day ago
HeyThisIsntTheYMCA@lemmy.world 23 hours ago
which dude who invented marco? because we have like three real schools of marco and then the austrians sitting around with they thumbs up they butts
marcos@lemmy.world 20 hours ago
Keynes did it.
Not exactly in a cave… But in a military prison cell in China.
FoxtrotDeltaTango@sh.itjust.works 1 day ago
We need another FDR and A new deal 2.0 at this point
ICastFist@programming.dev 1 day ago
Money (power) corrupts and people with lots of money rarely want to part with it. Also, money protects money, so the rich often deal in the shadows to protect themselves from us.
0x0@lemmy.zip 1 day ago
Piñata Economics 101:
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FoxtrotDeltaTango@sh.itjust.works 1 day ago
Based pinãta economics pilled