Retired Professor of Political Economy
(Lancaster University, UK - retired 2021)
(also #ProfDJ across the Lune Valley)
Contributor: North West Bylines #NoBridge
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Joined 4 years ago
Cake day: November 18th, 2022
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Well, much of the effect of economic activity is felt through the labour market (in a capitalist system), so while one can have economic planning the ignores jobs, this would be partial at best; jobs are the way that (some of) the fruits of economic development are delivered to society through what Keynes referred to as ‘effective demand’ - workers sending their wages in the ‘real’ economy & the multiplier effect of that money being then respent & respent as a cycle
@codewizard @casualuk
Well, much of the effect of economic activity is felt through the labour market (in a capitalist system), so while one can have economic planning the ignores jobs, this would be partial at best; jobs are the way that (some of) the fruits of economic development are delivered to society through what Keynes referred to as ‘effective demand’ - workers sending their wages in the ‘real’ economy & the multiplier effect of that money being then respent & respent as a cycle