The logic of American economic policy relies on a large velocity of money driven by consumer habits. It is tautological, and it is obsolete in the face of the elite trying to minimize wage expenses.
The logic of American economic policy relies on a large velocity of money driven by consumer habits. It is tautological, and it is obsolete in the face of the elite trying to minimize wage expenses.
How is it obsolete? If everyone is unemployed and a few AI barons are obscenely wealthy, the velocity of money will be low because most people will be broke.
Seems to me like that's still a worthy target if chasing it fights that outcome.
How is it obsolete? If everyone is unemployed and a few AI barons are obscenely wealthy, the velocity of money will be low.
Seems to me like that's still a worthy goal.