GUYS GUYS GUYS YOU'LL NEVER BELIEVE WHAT I JUST FIGURED OUT! Are you ready? Here it comes!
spoiler
Businesses try to maximize profits as much as they think they can get away with.
Simultaneously an axiom of capitalist economics and a point capitalists love to call you crazy for emphasizing
It’s kinda weird, as someone who got a degree in Econ - which was of course was really just “neoclassical economics” taught mostly by libertarian-leaning profs - to see just how ideologically driven bourgeois economics really is. I mean, even as I was learning it I knew how the whole thing relied heavily on certain capitalist-friendly assumptions that didn’t seem to align with reality. But the last couple years, it’s like I can read a Marxist analysis of the current situation and it makes perfect sense and seems empirically true. And then when bourgeois economists (or their fans on Reddit) are confronted with this, they just hand wave it away as being “in conflict with bAsIC eCoNoMiCs”. And then a little later down the road, the Marxist are proven right but no one wants to talk about it.
[economists like to call economics the dismal science, and they're half right]
The dismal science is a derogatory term for the discipline of economics. Scottish essayist, historian and philosopher Thomas Carlyle used the phrase in his 1849 essay, Occasional Discourse on the Negro Question, in contrast with the then-familiar phrase "gay science" used to refer to the art of troubadours.
Wild read
"gay science" used to refer to the art of troubadours.
If I ever play DnD again, i know what my next character is going to be.
"gay science" used to refer to the art of troubadours
[Creates a ProTools session called "GentleGiant_RaconteurTroubadour_GayDiscoRemix.ptx"]
[Deletes it immediately]
By dubbing econ "dismal science" adherents exaggerate,
The Dismal's fine, it's Science where they patently prevaricate
:margaret-thatcher: Noo what are they talking about its clearly the money supply which is the issue
I heard a bit on NPR where they were like, "so what if instead of a wage/price spiral, it's a profit/price spiral :thinking-about-it: " then left it at that.
Wow very insightful, thanks!
Wage-price spiral was debunked 150-200 years ago. Economics is a joke lmao
Wage price spiral looks like it's happening in the 60s, but it's actually way weirder.
Aspects of our system were public for unionized workers through the Taft Hartley trust system. This meant that union workers could afford to pay more for Healthcare, which drove up the price for everyone because companies could make more by charging more.
But this correlated with rising wages, since it correlated with union density, so statistically the Healthcare profit price spiral was disguised as a wage price spiral
Feels like having to go under surgery but all the doctors are toddlers discussing what's blood
Why am I laughing so hard at this? I've been sat here watching comedy shows but this is the one that has me laughing so hard; why am I laughing so hard? 👍 :hahaha:
[Anesthecist playing with the gas valve]
- "One lazt queztion zir, dou you have GUTS inzide you?"
- "Y- Yes?"
- "EEEUUUUUGGGHHHH"
Once dismissed as a fringe theory, the idea that the patrician thirst for slaves drives up plebeian unemployment, AKA “Slavery”, is now being taken more seriously by tribunes, policymakers and estate owners.
