News for hackers. Stuff that matters.

A comment on Economists don’t understand much about the macroeconomy. Parent comment

Re:Economists don’t understand much about the macroeconomy by simonh on Thursday September 19, 2019 @11:08AM (#21016897)
What has happened that is hurting us in the West is that wages have stagnated. Our standard of living is still going up, but that's largely driven by cheaper goods from developing countries (cough China cough) and better technology.

I suspect this is simply due to the fact that there are now hundreds of millions more middle class people in the world that can do our jobs just as well as we can. However I can't bring myself to cry foul. Why shouldn't they get a fair bite at the apple?

Inequality is definitely an issue, but frankly if we're going to vote in billionaires so they can give themselves and their rich mates historically unprecedented tax breaks, while profiting enormously from their position of privilege, maybe we deserve it.

[ Parent | on HN ]
Re:Economists don’t understand much about the macroeconomy by NeedMoreTea on Thursday September 19, 2019 @11:42AM (#21017251)
Aye it's hard to talk against your last point. Though did they choose it or were they marketed to vote that way? It's a remarkable success story that so many have voted against their own best interests over the last 30 or 40 years. Though there was a decided lack of alternative views, just degree.
[ Parent | on HN ]