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Cake day: April 11th, 2024

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  • explodicle@sh.itjust.workstoGaming@lemmy.worldDon't hate the player
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    28 days ago

    Long story short:

    • Keynes wrote a fairy tale about inflation raising wages and shortening the work week
    • Richard Nixon started inflation as we know it
    • Economists worldwide fell into line
    • Shockingly, wages didn’t go up, the work week didn’t shorten, and we now have record-breaking inequality (due to the Cantillon effect).

    To this day, people who paid to “learn” the fairy tale insist that inflation is good.