“K shaped economy”
Lol. New day new term to muddy the waters. It’s just capitalism
It’s just Krony Kapitalism!
C-shaped economy.
Maybe I’m too sensitive but I hate that we have a new term (K-shaped) for something that has been an integral part of the American economy since plantation slavery.
Americans Realize They Are Crabs in a BucKKKet Challenge [Impossible]
Bothers me too. It doesn’t agitate any emotion. We aren’t teaching an Econ course, we need to be framing up the actual relations and consequences of an economy where the ultra rich are trying to reach escape velocity before the masses hit the bounce off the bottom and come after them.
But it’s worse now than ever. We have officially more inequality than in any other part of human history.
I also hate the term K shaped but I think the difference is before both lines were going up, just one at a much steeper pace
KKK-shaped eKKKonomy
With a dash of K-hole eKKKonomy
The share of national income going to labor has been trending down since the early 1980s,
Since the eighties? Our boy has been calling it since the eighteen-hundreds.
Well if you limit your scope to the west, the anti-bellum imperialism+social democracy push made the K less prominent. But if you expand the scope to all of global capitalism, it’s been a K since our boy Marx at least
I remember when I was first turning from a liberal into a baby leftist listening to the podcast the Antifada (maybe it’s still good but I haven’t listened to it in forever) and one of the hosts Sean KB arguing something like (it’s been forever so we’ll see if I get this right) - that to capitalists, the “normal part” is the boom cycles that bring economic wealth to everyone, especially the Keynesian/post-WW2 period, while the busts are the weird exception. But in actuality, those are just the exceptions to the general trend of capitalism to make the rich richer and the poor poorer. They have it reversed. The neoliberalism of the late 70’s, 80’s and on, is simply the continuation of the wider trend of capitalism, with the FDR/Keynesian period through post-WW2 being the brief exception in US history.
Normally, this natural trend of capitalism has to be paused through oppression and horrors, such as slavery, colonialism, imperialism, etc. Even the WW2 period was helped through war I suppose, which they may try to repeat soon it seems.
It was an interesting revelation that really helped push me out of liberalism and capitalism into either socialism or anarchism.
They have it reversed. The neoliberalism of the late 70’s, 80’s and on, is simply the continuation of the wider trend of capitalism, with the FDR/Keynesian period through post-WW2 being the brief exception in US history.
I love those goldbug websites in this context because they get it halfway right but they don’t understand that the alternative outcome is driving capitalism into a ditch.
Haha I’ve never seen this website before but that’s great. Similar to crypto, it seems to be people identifying the wrong disease form the symptoms they see lol
And in other words:
“After gutting unions. The rich have decided that they deserve more since the 80s.”
How no one sees this as self-congratulatory hedonism is beyond me. Unions keep the porks disciplined and stop them from succumbing to their ontological vices that come with being so spoiled.
Am I a joke to you???Everything since Marx has just been trying to rediscover Marx without mentioning Marx
When my wife is mad at me she tells me to “go read marx”
You take that back, you’ll have to rip my KimIlSungism-KimJungIlism-KimJungUnism out of my cold dead hands!
i havent seen that gif before. thank you yoink
I’m collecting these American Century of Humiliation gifs like they’re big event newspapers.
Gonna show people https://tenor.com/view/banks-american-century-gif-10917314709645996914 and say I was there.
So KKKapitalism?
K-shape recovery was a niche argument? What world do these neoliberals live in? Even ‘Nobel’ Prize winning neo-Keynesians like Stiglitz were saying it.
perhaps you don’t recall the prevailing theory of Bidenomics where everything was great and we were just complaining because we hate how good Dems are at everything and/or have unrealistic expectations
Avoiding it? The FED adjusted interest rates to crush the strong position workers had for like half a year after the lockdowns were lifted.
Yeah it’s been like a decade since that Piketty book Capital in the 21st Century dropped. It was such a hot seller you literally couldn’t find it in stores when it came out.
bro it’s so over they’re quoting the bible
eKKKonomy
counterpoint: it would be crazy to actually read an article from Fortune
(dagum libs making my jokes toe the line of hexbears tos)
language nerd stuff
just want to say how much I appreciate you getting the right “toe” here. I’ve managed to stop correcting people who use “tow” but it still bugs me because it’s the wrong visual metaphor and it changes the meaning!
oh so it’s supposed to be some daffy duck “don’t cross this line!” type shit? I never realized lol
we have all been gas lighting you for literally your entire life.
-economists
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