I watched the video presentation and was impressed. I’d humbly suggest perhaps a brief outline prior to the presentation so we might look up terms/people such as John R. Hicks? Also, perhaps a pause in the middle for questions comments?
Thank you, definitely glad to listen! It gives a good understanding. I’d recommend it to others.
But does anyone else think the advocacy of minimum-wage increases seemed a bit sudden? Are there other economic knobs used to get out of deflation? (I’m totally for minimum wage increases, but is this also the idea behind government stimulus and ever-increasing military spending?)
As I understand, the idea behind raising low-end wages is that poorer people spend more of their incomes… Rich people may be famous for luxuries, but they don’t actually spend wildly enough, and actually can save money in the long run by buying quality long-lasting goods. Their money sits in some investment; and during deflation, investments in normal capital are a worse idea because people are less able to buy enough to let you make money on that investment.
Am I on the right track?
Excellent stuff. I am not an economist, and it can be difficult to understand without some guidance. You have provided that guidance and I appreciate it.
I am anxiously awaiting more lessons.
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