By Jared Bernstein
Paul K’s agrees with me on the core aspects of my post yesterday regarding our persistent trade deficits as a barrier to full employment, but disagrees the dollars status as a reserve currency has much to do with it.
My parents’ closest friends had a son, Jamil, who was almost exactly my age. We were playmates during a large portion of my early childhood. While we weren’t in the same class, we attended the same school. We were together during recess and lunch. We went on vacations together and we spent our summers at the beach together. My dad and his had purchased adjoining beach bungalows. Continue reading
We tend to perceive our identities as stable and largely separate from outside forces. But over decades of research and therapeutic practice, I have become convinced that economic change is having a profound effect not only on our values but also on our personalities. Thirty years of neoliberalism, free-market forces and privatisation have taken their toll, as relentless pressure to achieve has become normative. If you’re reading this sceptically, I put this simple statement to you: meritocratic neoliberalism favours certain personality traits and penalises others. Continue reading