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!ukpolitics@lemm.ee appears to have vanished! We can still see cached content from this link, but goodbye I guess! :'(
Wow good job at doing nothing, Sunak.
Of course, Labour is doing neoliberal inflation targeting nonsense
"The Labour MP tells the BBC's Today programme that he welcomes the news that inflation is "coming down" but stresses that the Bank's target rate of 2% is where the country should be."
The "target rate" is achieved by creating unemployment.
Sorry if below seems like I am teaching granny to suck eggs. I assume you recognise much of what I am saying. I just think it is essential that this conversation is opened up to as many readers as possible.
The “target rate” is achieved by creating unemployment.
Agreed. Although other options exist. The main issue is, Corperations are so bent on the growth economy. That lack of growth means layoffs. There is no reason most companies cannot keep staff during higher borrowing times. And just use inflation adjustments to continue to function as is.
But the share price economy is not about company survival. But growth above inflation and punishing firms that fail this.
It is not a must. Only the result of the stupid expectation,of current capatalism.
And impossible eventually without some major changes in resource allocation and energy production.
At least impossible with the goals claimed by all western governments.
The only way companies can grow without increasing inflation. Is for others to lose. Or for new resources to be found.
Our capitalistic ideas where grown over 2 major periods. The land expansion economy of colonialism. Where resources where taken from New nations not able to value them competitively. One of those resources being labour.
Followed by the oil economy where some nations were again able to pull a valuable resource (reducing the need for labour) from other nations with less ability to gain value.
In both of those the people of the original source of resource lost out hugly (as a society) to support the growth of our economies.
Unless we have a new group to exploit. Or some way to gain resources with 0 loss.
( asteroid mining and solar power from space may make this a possibility but not definite without will)
The only people who can lose out to support the continued growth economy. Is our own people hired by stagnant or failing companies.