The conclusion will be that macroeconomic policy proposals should be informed by stock-flow consistent modern monetary theory; that a job guarantee, or employer of last resort scheme, is a proposal which is affordable and potentially able to stabilise an unstable economy; that the elimination of involuntary underemployment can raise the subjective well-being of millions of people and promote social inclusion; and that the framing of this and other policy proposals is of vital importance, and should not be neglected by economists and the politicians they advise.
Why is Venezuela in Dire Straits? | Scott T. Patrick
Reproduced from: https://twitter.com/PompeiiDog/status/1091747927016513537
PhD in political science. Aspiring academic. Interested in Marxism, global political economy, social revolutions, and Western imperialism.
I’m going to do thread on Venezuela’s economic history to try and dispel some of the myths going around that the present crisis is due to socialism. Actually, colonialism, US imperialism, and neoliberalism are far more important factors for why Venezuela is in dire straits.