Pt. 1/2
November 6, 2024
Source: The Analysis.News
Screenshot
Following the inflationary period of the Covid-19 pandemic, inflation is largely down and currently at 2.1% in the U.S. Bob Pollin, economist, and Co-Director at the Political Economy Research Institute (PERI), explains the causes of inflation, including demand-side and supply-side factors. He illustrates how the economic models used to tackle inflation are essentially tools to chip away at workers’ bargaining power. Pollin recounts the history of policies of inflation control, tracing their development to the era of globalization and neoliberalism championed by former U.S. President Bill Clinton and former chairman of the U.S. Federal Reserve Alan Greenspan.
Screenshot
Following the inflationary period of the Covid-19 pandemic, inflation is largely down and currently at 2.1% in the U.S. Bob Pollin, economist, and Co-Director at the Political Economy Research Institute (PERI), explains the causes of inflation, including demand-side and supply-side factors. He illustrates how the economic models used to tackle inflation are essentially tools to chip away at workers’ bargaining power. Pollin recounts the history of policies of inflation control, tracing their development to the era of globalization and neoliberalism championed by former U.S. President Bill Clinton and former chairman of the U.S. Federal Reserve Alan Greenspan.
Source: The Anaysis.News
In part 2, Bob Pollin, economist and Co-Director of the Political Economy Research Institute (PERI), lays out policies to increase workers’ wages and bargaining power and bring down the price of food items such as eggs. He tackles the issue of U.S. government debt, as well as fiscal conservative and MAGA Republican claims that China owns most of this debt. These falsehoods deflect from Trump’s massive tax cuts for the rich and his high military expenditure, which ran up U.S. debt far more than under the Biden administration. Pollin asserts the best way to reduce high-interest payments on U.S. debt and support social services is to increase government revenue via capital gains and income taxes.
Robert Pollin
Robert Pollin is Distinguished Professor of Economics and Codirector of the Political Economy Research Institute at the University of Massachusetts, Amherst. He has served as a consultant on energy and the economy for a wide range of organizations and institutions, including the U.S. Department of Energy, the International Labour Organization, the United Nations Industrial Development Program (UNIDO), and numerous nongovernmental organizations. He is author of Back to Full Employment (MIT Press), also in the Boston Review series, and Contours of Descent: U.S. Economic Fractures and the Landscape of Global Austerity.
No comments:
Post a Comment