Re:How Poverty Makes Workers Less Productive
by imtringued on Monday February 15, 2021 @05:11AM
(#26141166)
Same with the central bank. Supply side stimulus forever, even though the supply side has been saturated with funding.
It's like dousing a farm field with fertilizers and herbicides to improve yields even though you couldn't sell half of last year's harvest. You end up selling your produce for less than last year even though the value of your company has gone up according to the stock market.
It doesn't take a genius to understand that things are doing better when supply and demand are balanced. You need a combination of multiple strategies.
Actually it's even worse. Too much fertilizer and herbicides will cause unintended consequences.
Re:How Poverty Makes Workers Less Productive
by devdas on Sunday February 14, 2021 @07:57PM
(#26137848)
Isn't that exactly the meaning of conservative? They want to preserve the status quo of that time.
Re:How Poverty Makes Workers Less Productive
by kevin__ on Sunday February 14, 2021 @08:52PM
(#26138182)
Sure, I guess in a dictionary sense of the word. But that obviously doesn't match their behavior in that case. They wouldn't be arguing for lower taxes or cuts to social security if they were only interested in preserving what existed in 1980. They wouldn't be attempting to overturn Roe v. Wade or gut the Civil Rights Act.
I would guess this is likely because these positions are more based on philosophy than they are on actual economics or other evidence-based fields. This was a reasonable position when there wasn't strong evidence to either prove or disprove these arguments, but at some point the evidence becomes overwhelming, and those positions should no longer be considered serious. We're long passed that point on a number of issues, but it sure doesn't seem like anything will change anytime soon.