The Politicization of Economics… ― One unhappy lesson we’ve learned in recent years is that economics is a far more political subject than we liked to imagine… Krugman readers are well aware of how he so often brings Raw Partisanship into the equation, and many of us Leftists have been frustrated about how he relentlessly defines the Bad Guys solely as the GOPers on the right who he consistently exclaims are the de facto representatives of the Top 0.01% ― when we who also follow all this sh*t as well are aware of how the self-professed Liberal politicos are so complicit as well… Well, here he goes again - and, Dammit, he really Can Be persuasive: Using monetary policy to fight slumps is a form of government activism. And conservatives don’t want to legitimize the notion that government action can ever have positive effects, because once you start down that path you might end up endorsing things like government-guaranteed health insurance. Using monetary policy to fight depression, while in the interest of the vast majority of Americans, isn’t in the interest of a small, wealthy minority. And, as a result, monetary policy is as bound up in class and ideological conflict as tax policy. ― The truth is that in a society as unequal and polarized as ours has become, almost everything is political. Get used to it.
Posted on: Fri, 11 Jul 2014 06:01:17 +0000
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