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Stocks slip as Wall Street questions whether the US job market has slowed by enough or too much (apnews.com)

submitted 3 days ago by Stamau123@lemmy.world to c/nottheonion@lemmy.world

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[–] Viking_Hippie@lemmy.dbzer0.com 14 points 2 days ago (2 children)

The truth is that the American economy is just stupid

Could have just said this. It was nonsensical from any perspective except "line must go up so the rich can get richer" for DECADES before the Mango Mussolini came along and made it too obvious to deny.

[–] Buffalox@lemmy.world 8 points 2 days ago

I suspect most people sense it's "stupid" without really being interested in the subject, but I also think some lighter real economics context is important to understand how and why.

[–] shalafi@lemmy.world -3 points 2 days ago (1 children)

OK. Name an economic system that does not depend on constant growth. I'll wait patiently.

[–] Stamau123@lemmy.world 1 points 2 days ago

https://en.wikipedia.org/wiki/Steady-state_economy

https://en.wikipedia.org/wiki/New_neoclassical_synthesis

The use of efficient output recognizes that potential output does not grow continuously, but can move upward or downward in response to shocks

https://en.wikipedia.org/wiki/Ecological_economics

Degrowth addresses both biophysical limits and global inequality while rejecting neoliberal economics. Degrowth prioritizes grassroots initiatives in progressive socio-ecological goals, adhering to ecological limits by shrinking the human ecological footprint (See Differences from Mainstream Economics Below). It involves an equitable downscale in both production and consumption of resources in order to adhere to biophysical limits.