Thursday, March 2, 2017

The Panda Bear on Debt, Politicians, and Work

The Panda Bear will be doing some short posts because she gets tired at night.    She had just read an article about how it works to the Capitalists advantage to work people long hours.   The Panda Bear actually thinks the economy would function better with more leisure because people would have more time to spend money.

However, the Panda Bear thinks that the Capitalists like getting people into debt where they are obligated to work to pay off their debts.    Also she thinks that politicians benefit by people going into debt because it provides the illusion that the economy is growing and that wages are rising which they have not been doing.   For better or worse in the post Keynesian era politicians are seen as being responsible the economy; consequently they do things to make the economy look like it is doing well.

Here is a link to  the article the forty hour work week which inspired this post.