Why are people working harder than ever before, but having insufficient time to devote to their family?
Why is the state of their financial affairs declining?
Why do they spend less time enjoying nature and the classical pursuits.
Why has middle class poverty increased as the uber-wealthy have become far wealthier?
It’s the elephant in the room for every one of your questions, QandA! We could deal better with the many issues with which we’re confronted if the economy was working for people, instead of just feeding the extractively wealthy.
I vented frustration at world economies in terminal decline today in these tweets (amongst others!):-
Bryan Kavanagh@bryankav123 Replying to @scientificecon and @CallumRN Bank competition? Maybe. I find central bank nodding to property bubbles & extractive share buy-backs chillingly similar to Bruno Heilig’s insightful 1941 account of pre-WWII Germany. https://thedepression.org.au/hitler-explained/ Looking to saviors, instead of simply calling out speculative madness?
Bryan Kavanagh@bryankav123·1h Replying to @AnnaEarl11 @DrCameronMurrayand 2 others Yes, Michael Hudson’s onto something when he says there are many extractive hangers-on in the ‘FIRE’ sector (i.e. finance, insurance and real estate) but insufficient real productivity? https://youtu.be/CnrEHFwZ9hk So, “FIRE is a good servant but a bad master” may have a 2nd meaning?
Bryan Kavanagh@bryankav123·9h Replying to @Renegade_Inc Yes, billionaires get there because we tax productivity, instead of unearned income/economic rent. We pay an enormous price for defying Adam Smith, David Ricardo, JS Mill, Henry George, Mason Gaffney, Joseph Stiglitz, et al, on the point that unearned rents must be taxed away.