.: “Economic growth isn’t everything for everyone, but it turns out it’s pretty close. It has delivered remarkable progress on exactly the benchmarks that its critics prioritise — recently even on environmental impact. The problem facing rich and poor alike today is that we don’t have enough of it, not that we’ve had too much.”
Conversation
Post your reply
Also this...
Quote
Emil Sotirov
@sotirov
Replying to @cafreiman
No one argues about global poverty diminishing (a success of neoliberalism). However, poverty... once above the absolute life-sustaining minimum... becomes relative to context. Country-level contexts define people's experience... economic -> political. And politics is local. The
Only everyone knows that growth is important. The delusion is comparing growth to the US.
All developed states are experiencing slow growth. The US is different for two reasons:
- it has massive petrochemical reserves
- the digital economy creates monopolies based on capital
Yes... pretty close to everything... but not in the way you suggest. The economy IS political... stop separating economics from politics... or things worse than MAGA will start happening...
Quote
Emil Sotirov
@sotirov
~25% of Americans saw their income decline ~30% since 1979.
Combined(!) income from work and gov assistance.
Next time someone asks about why MAGA.
Growth is fine till it hurts people. We have now reached a state where people can’t afford groceries, housing, healthcare, and the financial wealth created that theoretically benefits all is benefiting only the 1%.
C-Suites love stripping consumer surplus.....
and it is all consumer surplus... lol
And this...
Quote
Emil Sotirov
@sotirov
"... a travesty..."
(aka the neoliberal political economy that brought us MAGA and Trump)
... Rick Rieder, BlackRock global fixed income CIO... explaining historic highs in stock markets vs. historic lows in consumer sentiment.
(start video at 8:43)
bloomberg.com/news/videos/20
we have asset inflation caused by the rich, so we have too much of what we don't need and too little of what we need.
oh, so now regulation is positive, is it? We're calling it "hard won" and positioning it in support of a capitalist premise. Why, then, do so many capitalists complain that regulation is counterproductive?