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Dear John,
We are excited to announce our new “Debunk” series!
This is a new 10-part series -- debunking the ten biggest political-economic myths -- and we’re releasing them every Friday.
Economics has become so confusing to many people that they believe anything the gonzo Trumpers put out. People are vulnerable to such rubbish because they don’t have an accurate view of the economy to begin with.
So my colleagues and I have worked very hard to produce these short video essays that will appear in both written and visual form -- along with my translucent drawings! -- to debunk the most common mythologies that get in the way of clear thinking about the political-economy.
Each video is designed to be useful to you. They also fit together into a coherent narrative about the real organization of our system. Click here to watch the video and subscribe to our YouTube channel so you don't miss any of the installments in this important new series or click here if you are already subscribed.
In Part 1, we debunk the myth: “Economics is an objective science that has nothing to do with politics or morality.”
BUNK!
If you really want to understand the economy, you have to understand politics, and also morality. They’re treated as separate fields, separate disciplines. Each has its own experts and specialists. But the three are completely intertwined.
Adam Smith, the Scotsman who wrote “The Wealth of Nations” in 1776,th is considered the father of economics, especially by conservatives. But he never called himself an economist. He called himself a moral philosopher. Why? Because he was really interested in the meaning of a good society.
That’s what it’s all about -- or should be all about. What sort of society do we want?
These are basically moral questions. For instance:
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How much inequality is acceptable?
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How much poverty?
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Is slavery acceptable?
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Is it okay for young children to have to work?
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Should there be a minimum wage?
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Is it okay for an adult who works 40 hours a week to be impoverished?
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Is it okay for children of the super-wealthy to inherit so much wealth that they never have to work a day in their lives?
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Is it okay to discriminate in schooling or employment against someone based on the color of their skin?
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or what they believe?
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or where they were born?
When we talk about morality, we can’t avoid issues of power:
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How much power should the wealthy have?
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Is it okay for a corporation to monopolize a market?
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Is it okay for workers to join together to form a labor union?
Click here to catch our first episode of our new Debunk Series and subscribe now or Click here if you are already subscribed.
In the end, economics, politics, and morality cannot be separated.
I hope you enjoy the series as much as we have enjoyed making it.
Robert Reich
Inequality Media Civic Action
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