#nairu — Public Fediverse posts

@Susan60
There is #StructuralUnemployment which can be addressed with re-skilling for available/new jobs and then there’s the #NeoLiberal #NAIRU principle based on a deduction that real full employment will lead to runaway inflation which is an #RBA responsibility to maintain within an *arbitrary* range. The latter leads to *systemic* unemployment which requires #PublicSupport.

While I understand structural unemployment occurs and will continue to occur, there is no economic imperative for policy-driven unemployment. It is strictly a policy specifically designed to enable wealth transfer from the #Workers to the #RentierClass through #WageControl.

In our current economic system, #Wages are treated as a #Costs of doing business resulting in #LowerProfits. Maintaining #unemployment in the 4-5% range ensures competition for jobs and supresses demand for higher wages hence maintaining a higher level of profit. That’s how it works.

How stupid is that? Creating unemployment to please #FinancialMarkets and #privateEnterprises while simultaneously using #PublicFunds to help those out of a job. What kind of screwed logic is that system based on? I’ll tell you — it’s not Capitalism — it’s plain and simple #ClassWar led by #Grifters (which can occur in any economic system if it is deregulated enough or centrally controlled by the #Oligarchy — we have both).

BTW, instituting a Universal Basic Income (#UBI) would look after the unemployed much better than we do now, but it would not solve the repercutions of our failed NeoLiberal economic system. Wealth transfer to the 1% would still occur. Our economy is **rigged** and we need to changes that with stronger regulations, check and balances.

#AusPol #MMT #SocialDemocracy #WealthEquity #FairerSociety #JoinYourUnion #InUnity #Economics

@Susan60
There is #StructuralUnemployment which can be addressed with re-skilling for available/new jobs and then there’s the #NeoLiberal #NAIRU principle based on a deduction that real full employment will lead to runaway inflation which is an #RBA responsibility to maintain within an *arbitrary* range. The latter leads to *systemic* unemployment which requires #PublicSupport.

While I understand structural unemployment occurs and will continue to occur, there is no economic imperative for policy-driven unemployment. It is strictly a policy specifically designed to enable wealth transfer from the #Workers to the #RentierClass through #WageControl.

In our current economic system, #Wages are treated as a #Costs of doing business resulting in #LowerProfits. Maintaining #unemployment in the 4-5% range ensures competition for jobs and supresses demand for higher wages hence maintaining a higher level of profit. That’s how it works.

How stupid is that? Creating unemployment to please #FinancialMarkets and #privateEnterprises while simultaneously using #PublicFunds to help those out of a job. What kind of screwed logic is that system based on? I’ll tell you — it’s not Capitalism — it’s plain and simple #ClassWar led by #Grifters (which can occur in any economic system if it is deregulated enough or centrally controlled by the #Oligarchy — we have both).

BTW, instituting a Universal Basic Income (#UBI) would look after the unemployed much better than we do now, but it would not solve the repercutions of our failed NeoLiberal economic system. Wealth transfer to the 1% would still occur. Our economy is **rigged** and we need to changes that with stronger regulations, check and balances.

#AusPol #MMT #SocialDemocracy #WealthEquity #FairerSociety #JoinYourUnion #InUnity #Economics

@Susan60
There is #StructuralUnemployment which can be addressed with re-skilling for available/new jobs and then there’s the #NeoLiberal #NAIRU principle based on a deduction that real full employment will lead to runaway inflation which is an #RBA responsibility to maintain within an *arbitrary* range. The latter leads to *systemic* unemployment which requires #PublicSupport.

While I understand structural unemployment occurs and will continue to occur, there is no economic imperative for policy-driven unemployment. It is strictly a policy specifically designed to enable wealth transfer from the #Workers to the #RentierClass through #WageControl.

In our current economic system, #Wages are treated as a #Costs of doing business resulting in #LowerProfits. Maintaining #unemployment in the 4-5% range ensures competition for jobs and supresses demand for higher wages hence maintaining a higher level of profit. That’s how it works.

How stupid is that? Creating unemployment to please #FinancialMarkets and #privateEnterprises while simultaneously using #PublicFunds to help those out of a job. What kind of screwed logic is that system based on? I’ll tell you — it’s not Capitalism — it’s plain and simple #ClassWar led by #Grifters (which can occur in any economic system if it is deregulated enough or centrally controlled by the #Oligarchy — we have both).

BTW, instituting a Universal Basic Income (#UBI) would look after the unemployed much better than we do now, but it would not solve the repercutions of our failed NeoLiberal economic system. Wealth transfer to the 1% would still occur. Our economy is **rigged** and we need to changes that with stronger regulations, check and balances.

#AusPol #MMT #SocialDemocracy #WealthEquity #FairerSociety #JoinYourUnion #InUnity #Economics

@Susan60
There is #StructuralUnemployment which can be addressed with re-skilling for available/new jobs and then there’s the #NeoLiberal #NAIRU principle based on a deduction that real full employment will lead to runaway inflation which is an #RBA responsibility to maintain within an *arbitrary* range. The latter leads to *systemic* unemployment which requires #PublicSupport.

While I understand structural unemployment occurs and will continue to occur, there is no economic imperative for policy-driven unemployment. It is strictly a policy specifically designed to enable wealth transfer from the #Workers to the #RentierClass through #WageControl.

In our current economic system, #Wages are treated as a #Costs of doing business resulting in #LowerProfits. Maintaining #unemployment in the 4-5% range ensures competition for jobs and supresses demand for higher wages hence maintaining a higher level of profit. That’s how it works.

How stupid is that? Creating unemployment to please #FinancialMarkets and #privateEnterprises while simultaneously using #PublicFunds to help those out of a job. What kind of screwed logic is that system based on? I’ll tell you — it’s not Capitalism — it’s plain and simple #ClassWar led by #Grifters (which can occur in any economic system if it is deregulated enough or centrally controlled by the #Oligarchy — we have both).

BTW, instituting a Universal Basic Income (#UBI) would look after the unemployed much better than we do now, but it would not solve the repercutions of our failed NeoLiberal economic system. Wealth transfer to the 1% would still occur. Our economy is **rigged** and we need to changes that with stronger regulations, check and balances.

#AusPol #MMT #SocialDemocracy #WealthEquity #FairerSociety #JoinYourUnion #InUnity #Economics

@Susan60
There is #StructuralUnemployment which can be addressed with re-skilling for available/new jobs and then there’s the #NeoLiberal #NAIRU principle based on a deduction that real full employment will lead to runaway inflation which is an #RBA responsibility to maintain within an *arbitrary* range. The latter leads to *systemic* unemployment which requires #PublicSupport.

While I understand structural unemployment occurs and will continue to occur, there is no economic imperative for policy-driven unemployment. It is strictly a policy specifically designed to enable wealth transfer from the #Workers to the #RentierClass through #WageControl.

In our current economic system, #Wages are treated as a #Costs of doing business resulting in #LowerProfits. Maintaining #unemployment in the 4-5% range ensures competition for jobs and supresses demand for higher wages hence maintaining a higher level of profit. That’s how it works.

How stupid is that? Creating unemployment to please #FinancialMarkets and #privateEnterprises while simultaneously using #PublicFunds to help those out of a job. What kind of screwed logic is that system based on? I’ll tell you — it’s not Capitalism — it’s plain and simple #ClassWar led by #Grifters (which can occur in any economic system if it is deregulated enough or centrally controlled by the #Oligarchy — we have both).

BTW, instituting a Universal Basic Income (#UBI) would look after the unemployed much better than we do now, but it would not solve the repercutions of our failed NeoLiberal economic system. Wealth transfer to the 1% would still occur. Our economy is **rigged** and we need to changes that with stronger regulations, check and balances.

#AusPol #MMT #SocialDemocracy #WealthEquity #FairerSociety #JoinYourUnion #InUnity #Economics