How do you explain the politics of regression? Look, even the supposed liberals by 1975 had already lost the war on democracy, by agreeing to ignore Luther Gulick, and meekly accepting SocSec & Medicare taxes on labor ... but no taxes on any form of Corporate Welfare. If you accept regressive, why bother with faux negotiations of random details?
Yes, excessive taxes on labor were always positioned as "combating the relief attitude," but ONLY for lower class relief! Corporate or Upper Class entitlement suffered from no such stigma.
Nevertheless, liberals in 1975 were still executing at least a well-managed, staged retreat. That retreat only turned into a rout later on, with the 36 year, Reagan/Bush/Clinton/Bush/Obama "WALL STREET" dynasty. Where have all the ingenious, American pragmatists been, since the days of Hoover & FDR? Is someone or something weeding them out? Where are all the people who want nothing to do with either the GOP or DEM political gangs?
(hat tip to "Circuit")
Close, but all current policy interpretations of that fact still quickly veer out of paradigm - in yet another, unexpected direction, if not by old routes.
Among liberal & conservative ideologues alike, this discussion seems to revolve around a subtle and preposterous premise, that people never have hobbies, or quit jobs after saving enough capital to explore preferred options - i.e., that people act like machines, and have no dynamic imagination.
"There is no big trick to put more and more people on public service employment. If that is the only thing that one is interested in, obviously, the Federal Government can create the money by fiat and put more people on public service employment. The question is what are the short- and long-run implications of doing that in terms of keeping our economy productive, competitive and innovative....So I do not think it is just jobs; it is productive jobs and that is another way of saying that the Federal Government can go only part of the way in terms of assuring that we have a productive economy."
Well duh! Yet, what if it really IS just a buffer stock of jobs income? Why isn't anyone calling BULLSHIT! on that absolute presumption - that it isn't? There is no conclusive data either way, so let's just quickly find out, for Pete's sake! Un-assessed presumption is no way to keep running a country!!!
At least the 1975 liberals understood that a currency issuer can't run out of ways to denominate fiat. And, that was 1975 ... and still not enough follow up. In fact, we've conveniently forgotten to even retain this part of the discussion. It's like it never happened. Obviously the currency issuer can always allow the rising flood of desired transactions to be denominated - by creating currency on-demand ..... but we're refusing to even admit it! In fact, for most citizens, the obvious has now been posited to be insanity.
Just set a employment floor ..... of part time work, to provide a place for ALL citizens to re-start whenever gambits fail (no matter how frequently), so that all citizens have a base to start new efforts from. It's all in the perspective?
Let's just find out? And tweak it as results come in? It's no more risky than the stuff we've been trying. Otherwise, we're stuck on Individual Unemployment, Aggregate UnImagination and Cultural Inadequacy.
As Russel Huntley keeps saying, we seem to have gone steadily backwards since 1933. We accidentally realized (forced by context) that we could right-size our currency supply by fiat, & used that agility it to save our aggregate butts. Yet we never bothered to let all citizens in on the obvious, and then seemed to have slowly forgotten it, until it was nearly completely forgotten altogether, by shortly after 1975. Didn't we do the same thing, in 1776, 1861 & 1933? When will us morons stop pounding our aggregate head against the same wall?
How come no one's forgotten antibiotics, or genetics, or quantum mechanics, or relativity? Why is it only something as mundane as fiat currency operations that we've chosen to "forget?"
Now we're back to "discovering" common sense all over again, and the economics religion is once again closing ranks to fight the revolutionaries trying to "invent" prior common sense. I weep for my country and all citizens.
Was there something producing highly selective memory loss, placed in the water supply all along, or only in the textbooks? And whatever it was, was the dose doubled after 1975?
Now we're back to "discovering" common sense all over again, and the economics religion is once again closing ranks to fight the revolutionaries trying to "invent" prior common sense. I weep for my country and all citizens.
Was there something producing highly selective memory loss, placed in the water supply all along, or only in the textbooks? And whatever it was, was the dose doubled after 1975?
