WE BLEW IT. AND WE CAN FIX IT.
Democracies cannot survive if a large percentage of the population is left behind. And when the reason for people being left behind is an intentional shift of wealth from hundreds of millions of workers to a small number of billionaires at the top, it is necessary for those at the top to convince the losers that their miserable lives are not the result of billionaires taking their money, their safety, their security, their health, and their children’s futures, but caused by the actions of others whose lives are also being destroyed.
That is what politics is for.
And for 250 years, the political game that has attacked capitalism and democracy in order to transfer wealth upwards has been supported by textbook free-market economics.
But because textbook free-market economics is based on lies, if we replace the lies with a few simple facts, we can begin making what we have better.
And while we are doing that, businesspeople, investors, and regular people can use the same simple facts to make better decisions whenever those decisions can be affected by what they are hearing or reading about economics and the economy.
Which, of course, will change everything.
DENNIS F. PAULAHA
Prior to that, as a college and university professor, he taught microeconomic and macroeconomic theory at the principles, intermediate, advanced, and graduate level, monetary theory and policy, environmental economics, and special issues courses.
He has B.S. and M.A. degrees in economics from the University of Minnesota and a Ph.D. in economics from the University of Washington.
