Discover and read the best of Twitter Threads about #distributionaleffects
Most recents (2)
In a @TheProspect op-ed, "What Comes After Neoliberalism?" @rkuttnerwrites writes "we’ve just about won the battle of ideas. Reality has been a helpful ally…Neoliberalism has been a splendid success for the 1%, an abject failure for everyone else":
prospect.org/economy/2023-0… 1/
prospect.org/economy/2023-0… 1/
If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:
pluralistic.net/2023/03/28/ima… 2/
pluralistic.net/2023/03/28/ima… 2/
Kuttner's op-ed is a report on the @Hewlett_Found's recent "#NewCommonSense" event, where Kuttner was relieved to learn that the idea that "the economy would thrive if government just got out of the way has been demolished by the events of the past three decades." 3/
The US Federal Reserve has two imperatives: keeping #employment high and #inflation low. When these conflict - when unemployment goes near-zero - the Fed forgets all about #FullEmployment, cranking #InterestRates to "cool the economy" (AKA "increasing #unemployment"). 1/
If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:
pluralistic.net/2023/01/19/cre… 2/
pluralistic.net/2023/01/19/cre… 2/
An economy "cools down" when workers have less money, which means that the prices offered for goods and services go down, as fewer workers have less money to spend. 3/
