On economic experts

Mar 29, 2024

The Czech trade unions organised a short strike, followed by a discussion much more interesting than the strike itself. We learned from mainstream economists that:

Despite enormous technological advances, the current regime is unable to provide the standard of living that was commonplace at the end of the communist period – universally available high level education, school lunches, heat in apartments, etc.

This means that the bottom 80% of the population “lives above their means”. Interestingly, it’s not private jets that are above par (they don’t burden the economy), but crappy school lunches for poor kids in the cafeteria (they can’t be financed).

The only solution is for the majority of the population to recognise that they have been living above their means and to cut back. This means they will work more and eat less. But the experts don’t say this will be enough. Perhaps next year we will find that even the poorer life is actually above the odds. And so it goes on and on.

If they’re right, it would be best to call the Communist Party leadership. But that’s not the case. It’s a statement about the breakdown of the ability to think.

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