Before I read it, I think it's going to do a fallacious reverse-causation argument saying that lower prices will cause an economic depression/recession. Or, they'll say that higher wages need the higher prices.

[–] WokePalpatine@hexbear.net 41 points 3 days ago (3 children)

Ironically, falling prices can both signal a recession and trigger one.

There it is.

[–] Ishmael@hexbear.net 35 points 3 days ago (1 children)

I love how economists can say this and also say that capitalism is the best system possible in the same breath

[–] miz@hexbear.net 24 points 3 days ago (1 children)

they're just priests

[–] SacredExcrement@hexbear.net 19 points 3 days ago

We never moved past reading tea leaves

[–] XxFemboy_Stalin_420_69xX@hexbear.net 11 points 3 days ago

(all this shit definitely isn't made up btw)

[–] PKMKII@hexbear.net 9 points 3 days ago

Yeah the deflationary death spiral. Although the deflation of prices is usually the symptom of economic crisis rather than the cause. I saw a chart of the purchasing power of a dollar across the 20th century, and the peak was during the Great Depression.

[–] Wheaties@hexbear.net 24 points 3 days ago (2 children)

From the section titled "What might actually work":

Colyar does think government policy could reduce prices in two major areas: housing and health care. The government is heavily involved in health care and could pursue policies that reduce costs. And government policy on zoning, land use and related issues could spur the construction of more housing, so that greater supply would help cut into soaring costs.

ABUNDANCE

[–] NephewAlphaBravo@hexbear.net 22 points 3 days ago* (last edited 3 days ago)

"could help spur"

just fucking build it directly god damn monke-rage

[–] SoyViking@hexbear.net 6 points 3 days ago

Well, there is a kernel of truth in there. Universal healthcare and an ambitious programme of constructing good, cheap public housing where the need is greatest would have huge direct and indirect economic benefits for the mass of people.

But they're not going to do that, are they? At best they're going to fuck a bit around with zoning laws and private insurance regulation, rearranging the deck chairs on the Titanic.

[–] LeninWeave@hexbear.net 16 points 3 days ago

Or, they'll say that higher wages need the higher prices.

they-dont-know They don't know about the falling rate of profit causing intensified exploitation of labor.