We won’t fix inflation while economists stay in denial about its causes
https://aussie.zone/post/1300110
We won’t fix inflation while economists stay in denial about its causes - Aussie Zone
Non-paywall link.
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TL;DR: economists are still stuck in the idea of the market as a perfect force
for reaching optimal outcomes. They’re ignoring the simple fact that businesses
are putting prices up purely to increase profits. And that they can do this
because the economic ideal of perfect competition (where many small firms
compete with near-identical products) does not exist. We have a small number of
very powerful businesses—oligopolies—in nearly every market for consumer-facing
goods.
Economists aren’t really in denial, they are just doing their job of giving a false sense of scientific legitimacy to the plan the ruling class will enact anyways: discipline labor, cut social spending, bail out finance when they inevitably crash.
Who’s going to fund the new economics building at the University, the working class or some billionaire? Better make sure you don’t have any Marxists on staff.
I'd rather my taxes go to better universities instead of the war machine. But that would require the government in this country to do a 180 from where they've had their priorities for the last 70+ years.
Well yeah, universities have been starved of government funding for decades, so they raised tuitions, and have been turning to philanthropy to build new infrastructure. And you can bet that the funding for that new building came with more strings attached than just naming after John Q Richcunt.
Zagorath
Maoo [none/use name]
jonne