Re:America's 1% Has Taken $50T From the Bottom 90%
by dragonwriter on Friday February 12, 2021 @10:51AM
(#26114954)
Yes, it makes real wage cuts instead of catastrophic job cuts more practical when particular forms of work lose market value, which also reduces the degree to which future risk of decline needs to be built in up-front to wages.
But it's a blunt instrument. Providing tools to aid those workers adversely affected by those market shifts, whether by declining real wages or lost jobs, is the role of fiscal, not monetary policy.
Re:America's 1% Has Taken $50T From the Bottom 90%
by dnautics on Friday February 12, 2021 @12:00PM
(#26115723)
It's really presumptuous to say that it's better to cheat the labor class out of its earnings than have them deal with job losses (which you don't even know would happen).
But it's a blunt instrument. Providing tools to aid those workers adversely affected by those market shifts, whether by declining real wages or lost jobs, is the role of fiscal, not monetary policy.