The fact is price controls are terrible policy and have never worked because we cannot predict the future needs of the market. Unless we magically get vastly better AI that runs the entire economy it is unlikely price controls will ever work so when Chavez instituted them it lead to a collapse of the agriculture sector leading to hunger issues.
Some of the economic problems were self created because many leftists have zero formal economic backgrounds and thus have trouble separating reasons for factual historical failures of specific leftist policies, like price controls or rent control being extremely problematic historically speaking, vs what is merely capitalist propaganda eg “capitalism is the only system that works” which isn’t true historically speaking.
Some of the economic problems were self created because many leftists have zero formal economic backgrounds
That may well be, but at the same time, most economists in the world have a garbage education in neoclassical economics and carry neoliberal brain worms.
We had a middle class when taxes on the wealthy were 50-90 percent. Unless we bring that back, the ‘economy’ is bullshit.
If you were white and male it was a good deal for one generation. That was an anomalous moment in world history that will never come again. The US was the only major power in the world that didn’t have its productive capacity blown to smithereens in WWII, unions were comparatively strong, and the USSR posed a serious ideological threat to capitalism which caused the bourgeoisie to give (temporary) concessions.
Yes. I’m not disagreeing with you; I’m just highlighting what a unique moment it was, because most people think that was “normal,” and that we can get back to it, but we never can.
The fact is price controls are terrible policy and have never worked because we cannot predict the future needs of the market. Unless we magically get vastly better AI that runs the entire economy it is unlikely price controls will ever work so when Chavez instituted them it lead to a collapse of the agriculture sector leading to hunger issues.
Some of the economic problems were self created because many leftists have zero formal economic backgrounds and thus have trouble separating reasons for factual historical failures of specific leftist policies, like price controls or rent control being extremely problematic historically speaking, vs what is merely capitalist propaganda eg “capitalism is the only system that works” which isn’t true historically speaking.
That may well be, but at the same time, most economists in the world have a garbage education in neoclassical economics and carry neoliberal brain worms.
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If you were white and male it was a good deal for one generation. That was an anomalous moment in world history that will never come again. The US was the only major power in the world that didn’t have its productive capacity blown to smithereens in WWII, unions were comparatively strong, and the USSR posed a serious ideological threat to capitalism which caused the bourgeoisie to give (temporary) concessions.
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Yes. I’m not disagreeing with you; I’m just highlighting what a unique moment it was, because most people think that was “normal,” and that we can get back to it, but we never can.
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It isn’t really viable within the confines of a dying capitalist empire, though.
What do you think your reply means?