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this post was submitted on 04 Dec 2023
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Lording economic theory over people won’t make them feel any different about their reality.
I completely agree, but if people are talking about specific elements of economic theory, then we should accurately talk about it. If we don't hold ourselves to some kind of intellectual standard, then words become meaningless and incredibly easy to twist into fitting whatever agenda you like. A Republican could easily say that inflation has been caused by oppressive taxes and the obvious solution is to slash taxes, mostly for the wealthy of course, but with a mild tax break for the middle class to make it politically palatable. If you know anything about how inflation actually works, you'd know that this would simply make inflation even worse as consumers suddenly have a bunch of new cash to spend, further devaluing the dollar.
Sounds like vibes to me.