RE: Economics versus Politics and Pundits
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Brilliant, Krugman would have an only fans page had he been born a woman, there should be a portmanteau specifically for him -"whoreconomist" perhaps?
Vivek is certainly among the least bad, it is cheering to see him pass up some of the GOP fossils in the polls.
Virtually everything that is subsidized becomes more expensive. It is not so long ago that a college student could pay for 9 months of tuition with a summer job.
We seem to be in a never ending race to devalue the dollar until is is meaningless, likely the only thing that has us saved us thus far is almost every other nation on Earth is engaged in the same foolishness.
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Just remember Gresham's Law and spend the dollar while saving crypto and precious metals. Circulate the bad money, stockpile something better.
Subsidies sound ever so benevolent. No one wants to recognize how they alter the demand for the subsidized service, and thus drive up costs. It's similar to how people can recognize that price controls are destructive, yet demand minimum wages and maximum interest rates without noticing the fundamental cognitive dissonance at play.
And then there's the hyperfixation on corporate profits. Sure, they're a bunch of greedy bastards sucking on the teat of government, but they also see the rising costs of reinvestment necessary to stay in business. I guarantee that money will not sit idle in someone's Scrooge McDuck swimming pool. Everyone wants to talk about redistributing profits, but goes quiet when businesses take losses like most small and medium businesses did during COVID.
I was in Hawaii during Covid. 1000s of small businesses were destroyed. Landmark family-owned stores and restaurants went away forever.
Great writing here by the way - do you have any objection to me summarizing and linking this post in https://peakd.com/c/hive-182959/created "Politics and Reason" ?
Copy, critique, share, improve, whatever. I favor the BipCot license for what I write. Attribution and links are always appreciated, of course.