Mastodawn

Robert Reich Jan 8, 2023

Putting people out of work is the Fed’s means of reducing workers’ bargaining power and the “upward pressures on prices.”

But fighting inflation by putting people out of work is cruel, especially when America’s safety nets - including unemployment insurance - are in tatters.

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Shawn

@rbreich is it possible to have easy money and also no inflation? 100% employment would mean “raise prices until enough people can’t afford it.” Just by the nature of the market. Credit cards exacerbate that. Forcing caps on prices would lead to shortages. I think capitalism requires a certain percentage of prior to be out of work and desperate.