Saturday, January 27, 2018

Economic Thoughts

We have an economy that is very much like the economy we have had for the last few years.

The recovery from the recession was a little slower but it was pretty steady.

Some part of the economy have also seen changes which are related to long term economic trends and not short term business cycles.

The decline of coal and rise of cleaner energy.

Increased automation in the workplace.

Cheaper shipping costs and trade agreements that allowed unskilled jobs to be exported.

None of these are likely to be reversed so the areas hardest hit need to develop new opportunities.

Economics indicates that at some point they will be viable again for some industry.

Not what they once had, but something else.

However the idea that there is a short term fix is simply ridiculous and the disenchanted there are surely still disappointed.

They believed to some extent a liar who claimed to have answers.

He didn't understand the problems and certainly had no answers.

Economics is a dismal science, it doesn't care about people, just its laws.

No comments:

Post a Comment