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aaaargh, it's a lack of demand side economics since the bush tax cuts. too little at the bottom of the income ladder where the MPC is 1. Translates into not enough peeps buying widgets so no one is needed to make widgets. Lack of aggregate demand is the proper term.
What we need now is demand side economics in the form of an increase in the minimum wager. Cripes, 100% of it would go towards consumption . . . buying widgets.
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Hope you're doing well.
aaaargh, it's a lack of demand side economics since the bush tax cuts. too little at the bottom of the income ladder where the MPC is 1. Translates into not enough peeps buying widgets so no one is needed to make widgets. Lack of aggregate demand is the proper term.
What we need now is demand side economics in the form of an increase in the minimum wager. Cripes, 100% of it would go towards consumption . . . buying widgets.
and so it goes,
peace,
rono