Editorial, ASR 90
As this issue goes to press, the U.S. elections are two months away. One candidate promises to return us to the dark days of the 1950s, when America was “great” (for a few, though many unionized workers had stable jobs and could afford to buy homes); Democratic politicians insist that everything’s great and the millions who believe otherwise are being misled by the media and lying politicians. Most economists – who earn good livings apologizing for the capitalists at colleges, think tanks and commercial banks – agree, even if they would prefer wages to be lower and unemployment higher. Continue reading
