Finance != Economics. Financial dumbassery can impact economics and economics will improve finances, there’s a relationship but they aren’t the same thing.
People learned the long lesson from the energy crisis in the 1970s, choosing “supply side” economics, which is putting the financial sector in charge of economics, and that’s resulted in an upside down economy. People learned the wrong lesson from the energy crisis, should’ve learned to end our dependence on oil, but people got bamboozled into thinking Reagan good and Carter bad. Now we’re in a situation where we can’t make the economy function properly because half the electorate is convinced the anything other than supply side economics is literally communism, and a significant portion of other half of the electorate is becoming convinced that they should support other failed economic policies in opposition to the failed supply side policies.
Many of the economic problems we’re facing have happened before, and instead of considering those policies (trust-busting, Keynesian economics, taxes on the wealthy) you’re presented with a choice between different paths to economic failure.
Finance != Economics. Financial dumbassery can impact economics and economics will improve finances, there’s a relationship but they aren’t the same thing.
People learned the long lesson from the energy crisis in the 1970s, choosing “supply side” economics, which is putting the financial sector in charge of economics, and that’s resulted in an upside down economy. People learned the wrong lesson from the energy crisis, should’ve learned to end our dependence on oil, but people got bamboozled into thinking Reagan good and Carter bad. Now we’re in a situation where we can’t make the economy function properly because half the electorate is convinced the anything other than supply side economics is literally communism, and a significant portion of other half of the electorate is becoming convinced that they should support other failed economic policies in opposition to the failed supply side policies.
Many of the economic problems we’re facing have happened before, and instead of considering those policies (trust-busting, Keynesian economics, taxes on the wealthy) you’re presented with a choice between different paths to economic failure.