#NAIRU #NonAcceleratingInflationRateOfUnemployment #AusPol #USPol #UKPol #AusEconomy #Unemployment #Economy #Inflation #UnemploymentDeliberate #WhoPays #SocialContract #ForTheRich
Who is the nation being run to benefit?
What is the NAIRU theory? (The Non Accelerating Inflation Rate of Unemployment)?
Below is a recording of a radio interview with two economists.
Which economists?
http://petertulip.com/
"I am Chief Economist at the Centre for Independent Studies.
Previously I worked at the Reserve Bank of Australia, the US Federal Reserve Board of Governors, the OECD and Commonwealth Treasury."
Warwick Smith - sarc/ "A bloody leftie" /sarc
https://reconstructingeconomics.com/author/warwickjss/
Director, The Centre for Policy Development.
Warwick Smith's Linked In autobio:
I am an economist, writer, businessman and philosopher with broad interests including economic development, the application of evidence in public policy formulation, health, social justice, democracy, statistics/econometrics, demographic economics, tax economics, gender economics, environmental economics and the history and philosophy of economics. ...
These two economists agree on what the NAIRU is used for by central banks.
The central banks use the NAIRU as their target when they deliberately create unemployment.
Deliberately put folk out of work.
And the rich get to be taxed less and less?
While the rich benefit from the poor being kept out of work?
sarc/ Maybe some slight adjustments to the system need to be made? /sarc
#MoralHazard #EthicalBankruptcy #ClassWarfare #ProgressiveTaxation #SocialEquity
https://www.abc.net.au/radionational/programs/themoney/nairu-long-view/102330326
Two economists unpack and debate the idea that higher unemployment is needed to contain inflation. Short term thinking might be expedient in business and politics but could taking a really long view be better?
@skua as the graffiti here and around the world says, eat the rich!
Yes something had to be done. I think, to start, the economists should be the first to lose their jobs.
skua
Somcak