NYT: a shift in economic thinking is underway Archived Message
Posted by ATL on November 16, 2023, 6:40:21, in reply to "Inflation up 3.2% YOY in October, beats estimates"
Link The simplest explanation for the shift is that the old economic approach hasn’t worked very well for most Americans. Starting in the 1980s, the U.S. moved toward an economic policy that’s variously described as laissez-faire, neoliberal or market-friendly. It involved much lower taxes for the wealthy, less regulation of business, an expansion of global trade, a crackdown on labor unions and an acceptance of very large corporations. The people selling this policy — like Milton Friedman, a Nobel laureate in economics — promised that it would bring prosperity for all. It has not. Incomes for the bottom 90 percent of workers, as ranked by their earnings, have trailed economic growth, and wealth inequality has soared. For years, Americans have told pollsters that they were unhappy with the country’s direction. Perhaps most starkly, the U.S. now has the lowest life expectancy of any affluent country; in 1980, American life expectancy was typical.
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Message Thread: | This response ↓
- Inflation up 3.2% YOY in October, beats estimates - Carl Spackler November 14, 2023, 8:12:57
- NYT: a shift in economic thinking is underway - ATL November 16, 2023, 6:40:21
- Home Depot on its earnings call sounds a positive note on the economy - ATL November 15, 2023, 19:52:42
- Relevant FT article about US performance vs world and US economy in general - reggiedunlop November 15, 2023, 12:08:12
- Here's a Justin Wolfers thread on the report - reggiedunlop November 15, 2023, 10:18:40
- there is no rake..... - suburbanmyth November 14, 2023, 21:25:47
- best economy in the world* - gvibes November 14, 2023, 12:35:47
- whenever i see these, i want to try to put it in context of how other countries are doing. - VIV November 14, 2023, 9:19:29
- We're doomed. * - doubledown November 14, 2023, 8:45:32
- Best economy ever* - bigbop85 November 14, 2023, 8:22:06
- ...and that's why this is bad for Joe Biden* - KCWildcat November 14, 2023, 8:21:06
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