We should talk more about how the dominant approach of capitalist economists to controlling inflation is to periodically throw hundreds of thousands of people out of work and into misery. This is what passes for "economic stability" and it is madness. - ThreadSky

jasonhickel.bsky.social • 3 days ago

We should talk more about how the dominant approach of capitalist economists to controlling inflation is to periodically throw hundreds of thousands of people out of work and into misery. This is what passes for "economic stability" and it is madness.

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avianandloaded.bsky.social•9 hours ago

It's only stable for the walled off, privileged few.

jasonhickel.bsky.social•3 days ago

If demand-reduction is the preferred method of inflation control, there are much better ways to achieve this: eg, tax the rich, and use credit policy to reduce commercial bank lending to damaging or unnecessary forms of production that we want to scale down anyhow.

avianandloaded.bsky.social•9 hours ago

Yes. I file this under #agh.

jasonhickel.bsky.social•3 days ago

But no, that would be socialism and we can't have that. Better to destroy the lives of working class people!

It's wild that anyone accepts this.

ekogaia.bsky.social•3 days ago

The only way this will change is if a pliant working class casts off the chains of oppression and exploitation.

uriahpapaya.bsky.social•2 days ago

That was the good old days; now we’re throwing people out of work in spite of the economic destruction it causes.

cycling-commuter.bsky.social•2 days ago

Crony capitalism is different from free enterprise. Countries such as Denmark have mixed economies with balanced socialist & free enterprise components.

A certain amount of free enterprise is needed to allow innovations that serve niches. Niches often grow to mainstream.

how-are-u.bsky.social•3 days ago

It's either recession or inflation, and inflation leads to all this. So, yeah.

workers.bsky.social•3 days ago

Alienation is a helluva thing isn’t it
🛳️ Billions of precarious, powerless flotsam drown or bob in the wake of “the economy” 🛟

ecogenic.bsky.social•3 days ago

Not to mention throwing millions into war. Potentially billions these days. They are insane.

ashadoesstuff.bsky.social•3 days ago

Capitalism is probably one of the worst things human beings could have invented.

There’s an infinite amount of ways we could organize and divide resources but we are stuck in this system that thrives on inequality and exploits the earth…

ecogenic.bsky.social•3 days ago

Absolutely, there are as many ways to manage equitable sustainable economies as the mind can imagine. Capitalism definitely isn't one of them.

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