While I see various articles describing the inequity of the economy, my hackles are raised each time somebody discusses raising Interest Rates. High interest rates may last for a period of time, affecting a certain segment of our society dramatically; but increased prices for goods and services may remain, affecting low and fixed-income families.
I seem to be a “Keynesian”, at least I have been called one, as a ‘slur’. I do not care for Milton Friedman and the Chicago School of Economics, and criticize his ‘permanent income hypothesis model’ as wishful thinking that relates little to our growing lower-income population. I have no warm feelings for Ayn Rand and her lackeys like Ronald Reagan and Libertarian Alan Greenspan. Also, if ‘free-trade’ allows Corporations avoid national borders, why can’t labor?
How can people (voters) cause change to our economic structure when there is such a ‘reward’ system built into our Political / Industrial partnership? There seems to be no ‘governance’ over corporation, only a perpetual ‘feed-fest’ on profits where high dividends are valued over living wages.
Interesting Article:
3 Anti-Inflation Alternatives to Raising Interest Rates By RICHARD D. WOLFF 14 JUNE 2022 https://inthesetimes.com/article/inflation-interest-rates-federal-reserve-capitalism
1 comment:
While I see various articles describing the inequity of the economy, my hackles are raised each time somebody discusses raising Interest Rates. High interest rates may last for a period of time, affecting a certain segment of our society dramatically; but increased prices for goods and services may remain, affecting low and fixed-income families.
I seem to be a “Keynesian”, at least I have been called one, as a ‘slur’. I do not care for Milton Friedman and the Chicago School of Economics, and criticize his ‘permanent income hypothesis model’ as wishful thinking that relates little to our growing lower-income population. I have no warm feelings for Ayn Rand and her lackeys like Ronald Reagan and Libertarian Alan Greenspan. Also, if ‘free-trade’ allows Corporations avoid national borders, why can’t labor?
How can people (voters) cause change to our economic structure when there is such a ‘reward’ system built into our Political / Industrial partnership? There seems to be no ‘governance’ over corporation, only a perpetual ‘feed-fest’ on profits where high dividends are valued over living wages.
Interesting Article:
3 Anti-Inflation Alternatives to Raising Interest Rates
By RICHARD D. WOLFF
14 JUNE 2022
https://inthesetimes.com/article/inflation-interest-rates-federal-reserve-capitalism
Post a Comment