Thanks. I took the captain’s advice and clicked on the arrow thing. (thanks Captain)
As for lumpy earnings, bubblevision has trained management that their number must be “better than expected” every quarter, or even beat the “whisper number”. No wonder beancounters run most companies. They know best how to cook the books…had to laff at a quarterly from Tandy Corp, years ago. Their earnings for the quarter were down y/y, but, by “coincidence” they had bought back enough stock that quarter for EPS to be up.
That’s a part of his solution. But a major focus is what was then called “industrial policy”–i.e., government, labor, and the private sector partnering to create and retain full employment as well as bolster strategically important industries.
Well, we know what the pushback narrative is about that: “big gummit picking winners and losers”. Apparently, the only thing the government is supposed to do is help the rich get richer, than leave the rich to decide what to do with their loot. Sort of explains why so many people never heard of Thurow. He has been buried in a torrent of “supply side” propaganda.
Yup. FYI, I’ve attached a link to a review of Zero Sum Solution by Hyman Minsky (of the “Minsky Moment” that Krugman referred to when discussing the 2008-9 financial collapse). I think you’ll find it of interest.
I used a few chapters from Thurow in the undergrad Amer Politics/Policy class I taught.
Interesting. All sounds very much like central planning. “industrial policies with instrumentalities for concessionary financing for progressive sectors and for performing triage on retrograde sectors.” Not a chance in Shiny-land, where that sort of thinking has been painted as “picking winners and losers”, and lately “Communism”.