Economic Update: Exposing Economic Myths

[S10 E05]

This week on Economic Update, Professor Wolff discusses how the "unemployment rate" is inadequate measure of the U.S. economy’s well-being along with the decline of the “real” value of...READ MORE

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  • Pasqual DiGesu
    commented 2020-02-14 12:00:10 -0500
    Excellent presentation; This is why out property taxes on long island have doubled in the past 15 years although no one at least in my large social circles have had their incomes increase more than 10% on average in the same time. Although; this is not the mathematical equation allowed to contest local taxes, it is always based on the market value of homes even though we are not in the business of buying and selling,, just living in them. Gentrification, a market tool is one of many. Ironically during the 60’s another tool used was block busting. This was not in the interest of integrating neighborhoods, but to cause a selling panic which opened up the real estate market in certain zones up to 95% where it was previously dead. There are many tools and methods used in an uncontrolled or unregulated society of Laws. They are never talked about or under public scrutiny as so much of the subjects you discuss here. Our society now proving the mental weakness of human beings by its actions or non action, is now programmed to live in and accept this realm.
    “States are as the men (and woman) are; They grow out of human character”,—-From Plato’s Republic.

    Also, Having worked with and visited repeatedly over 400 manufacturing corporations here in NY in the last 35 years as a government employee, I can say that the stripping of workers rights to matching 401’s, pensions, medical benefits, salary growth, Unions, etc. has been visibly degenerating over the last 35 years, not just 10. I was fortunate to be part of the last socialized work force in America, which unlike many gluttonous State economies, is not yet on the verge of bankruptcy. I am also familiar with the companies in Emilia Romagna having worked in Europe for 12 years.