Yeah, I'm reading Debt right now and Graeber is hammering on a similar point about "The Economy" and "Economics" being made up by early liberals (real liberals) for ideological reasons.
Unemployment measures are kinda like that. People use it as a shorthand for how good the economy is, but it's most likely an indicator of capital's access to cheap labour
I think it was Howard Zinn who pointed out that “the economy” is just a euphemism for corporate profits
Yeah, I'm reading Debt right now and Graeber is hammering on a similar point about "The Economy" and "Economics" being made up by early liberals (real liberals) for ideological reasons.
Unemployment measures are kinda like that. People use it as a shorthand for how good the economy is, but it's most likely an indicator of capital's access to cheap labour