The economy is no longer a measure of prosperity for regular people (if it ever was) It just indicates the rate at which mega-rich people are able to become richer.
this post was submitted on 12 Apr 2024
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In the 1980s, I was listening to a news broadcast that contained 3 stories of note:
- national economy is doing fine
- Saskatchewan provincial economy is doing great
- Saskatoon gets its first food bank
From that, I concluded that there are two economies that are either completely separate or only very loosely connected: the lived economy of the vast majority of the workforce and the financial economy of trading in stocks, commodities, and financial instruments.
Over the next few years, it became obvious to me that reporters, journalists, politicians, pundits, think tanks, and business groups care only for the economy of the financial sector. I've seen nothing since to make me change my mind.
Money should be a tool, a mechanism, and not the goal. But since it is things are exactly as you describe.
How politicians view the economy: Yup, my stocks are up.
How regular people view the economy: Can I find a job, pay for rent, or afford a home? Can I pay for groceries and bills?
Thereβs a huge disconnect between how people try to grow the economy, and how the economy works for the people.
The economy doesn't work for us. We work for the economy.
The rate at which things are getting worse has certainly slowed, which has me somewhat hopeful. But things are definitely still not getting better.
/me points at grocery receipt.