Friends,
This week may a good one in which to take a look at the larger system and understand how it’s really organized — and for whom.
Start with the 10 biggest myths about our economy. These myths limit our thinking. They make it almost impossible to conceive of a different system — which is exactly the point. As long as we cling to these 10 myths, we see the fundamental choice as government or market, capitalism or socialism (or communism).
We don’t see how soaring inequality is perverting our system. We don’t see how it has contributed to corruption, bribery, and … Trump.
In reality, the choice is between a system that works for the many or one that works for the few — a choice between democracy and oligarchy.
Please take some time this week between Christmas-Hanukkah and the New Year, and examine the big picture.
And thanks for being a member of this community.
RR
For the sake of precision, change myth to lies, or disproven theories. Myth refers to stories that reveal a timeless truth. Thanks for keeping economic theory front and center. I am grateful that you are willing to share your wealth of experience.
Isn't Supply Side economics, introduced by Ronald Reagan, ultimately responsible for stagnant real wage growth and the soaring inequality? What interest would a conservative administration have in fixing this?