Comments

You must log in or register to comment.

HardPawns t1_irawv92 wrote

Well, it’s a golden opportunity to learn some basics about economy then.

172

AlxIp OP t1_irb27yx wrote

Economists hate him! Solve inflation with this one simple trick!

122

Khemith t1_irbixvk wrote

Nixon did it.

−63

Galle-on t1_irbnac4 wrote

Ah yes, Nixon. The well renowned economic genius, Nixon.

56

Khemith t1_irbp2ib wrote

wow you're a genius. It's not the President has whole team of economic advisors....

https://en.wikipedia.org/wiki/Nixon_shock

−55

blackmirar t1_irbsswy wrote

From that link:

> The Nixon Shock has been widely considered to be a political success, but an economic failure

64

Hadren-Blackwater t1_irbv11y wrote

>Nixon did it.

Belarus is obviously pining for the good ol' soviet economy, where the state sets up prices for the economy but at the same time expect shelves to not be empty.

And some people wonder why communism/socialism lost.

6

Khemith t1_ircpsuq wrote

"soviet economy" You do know that price caps have been around long before the soviets right?

Gee I wonder why the Earth is dying from only 200 years of capitalism. McDonalds on every corner and 1% owning the most they have ever had in the history of the world. Such a "win"

−13

OhMyGodTheyKilledBri t1_irgt4n1 wrote

The world has grown to a population that should not even be possible. How do you think that happens if things are worse than ever. You need to study and stop listening to NPR. Like it or not, the human race has never had more abundance.

2

Khemith t1_irgxdze wrote

"NPR" wow you reactionaries think people treat NPR like Fox News.

You need to pull your head out of your trailer park mindset and see what capitalism is doing to the environment, and our culture. Wages have stagnated since the 70's productivity is higher than ever before. The oceans are turning into acid and capitalism has zero ability to combat these because it's profit at all costs.

0

OhMyGodTheyKilledBri t1_irgxt3l wrote

Lol. You have no idea who I am. Stop it. I listen to NPR all the time, I don’t listen to Fox. NPR is unabashedly anti capitalist. To quote the story I was listening to a few days ago about inflation “companies have gotten addicted to sky high profits…” They have zero understanding of how economics work. If you think humans suffered less before capitalism, you’re delusional.

1

Khemith t1_irh5kih wrote

"Economics" = infinite resources. pollution and social alienation magically go away. Profits at all costs. Human extinction due to the capitalist machine finally seeing us as limits to its profit making ability.

1

Gh0stMan0nThird t1_irdsg4u wrote

The Earth has been through much worse than this. It's humans that are going to be undone by our own greed.

Biodiversity will return once humans are gone.

−3

pookshuman t1_irax2fq wrote

well that always works

153

Khemith t1_irbiwwj wrote

Nixon did it and it worked. Know your history.

−79

pookshuman t1_irbjtwe wrote

Are you talking about his 90 day stabilization program?

31

MagicPeacockSpider t1_irbq1mr wrote

Yes they appear to be.

Very similar outlook here too.

A supply crisis disrupting the market. Price controls as an emergency temporary measure.

Huge political success and only a recession as a result. Basic right wing and republican economic playbook.

22

pookshuman t1_irbr2hg wrote

exactly ... the 70s were not a big success story economically, so I am not sure what his point was

19

Dicios t1_irb3qt0 wrote

Actually interesting what would happen.

Sellers would secretly hike prices? As in cut the portions or add other hidden fees?

Like are the medium/small companies going to go bust due to not being able to make a profit? Has this been done before?

Seems like a fun experiment I wish no country did in practice.

45

kreankorm t1_irb8asc wrote

Venezuela tried it.

To say it went poorly would be an understatement. I recommend jumping down that research rabbit hole if this is a topic that interests you.

52

Newish_Username t1_irbfqje wrote

If I recall correctly, it ended up people eating ZOO animals, and WoW currency become more lucrative to farm, than actually work for Venezuelan currency.

33

This4ChanHacker t1_irc1naz wrote

There's still hordes of Venezuelan bot farms on Runescape.

6

Newish_Username t1_ircy5oj wrote

That is sad, and hilarious. But I'm glad that Venezuela did what it did, to show the world what happens when you go full state-sponsored socialism and business takeover.

Zoo animals, Frank. They ate the Zoo animals!

−3

BraethanMusic t1_irdeocm wrote

What happened in Venezuela had very little to do with the socialist nature of their economy and much more to do with extremely poor economic decisions by those in power.

3

altrussia t1_ireh0m4 wrote

It's like those people making poor decision don't learn from people making the exact same poor decisions thinking it will work for them when it didn't work for those..

0

Newish_Username t1_ireib6f wrote

Zoo.Animals.

−1

BraethanMusic t1_irepbau wrote

What about them?

1

Newish_Username t1_irersip wrote

They ate them. The arguments in favor of socialism are therefore invalid.

People are dense on these forums, I tell you.

−1

BraethanMusic t1_irf1gks wrote

The irony of calling others "dense" while simultaneously misunderstanding the point of my comment is fucking top-tier. You are awful at forming strawman arguments.

1

Newish_Username t1_irf7cbk wrote

Just because I disagree doesn't mean I misunderstood. When you're older and wiser, you'll understand that.

−1

BraethanMusic t1_irf7x36 wrote

Imagine disagreeing with a point that you very clearly did not understand. My point wasn't "socialism good", it was the indisputable fact that Venezuela's situation was caused by massive political mismanagement. It had nothing to do with their system of governance. Put the same people in the same positions in a capitalist or any other variation economy, and the same things happen. By the way, animals being eaten because of the crisis caused by said mismanagement is by far the most absolutely asinine argument you could possibly try to use against socialism, regardless if "socialism good" is my stance or not.

Maybe you'll understand that when you stop correlating age with comparative political and economic understanding.

1

versebadger1 t1_ire3339 wrote

The ideals of socialism are the opposite of the ideals of business, they're diametrically opposed, even. If Venezuela's industries had been owned by the public and benefits shared a la socialism they wouldn't have had any of the internal problems at all, they would have had a ton of external ones later, but they could easily have fed and kept safe their population, if it had been truly socialist.

It was the lack of money and assets for the people and the hoarding of them by private individuals that caused that part of their whole mess, not the concept of sharing and public ownership. Plenty more as well obvs, but the wealth was never spread out to actual venezuelans en masse.

2

[deleted] t1_irb8gt0 wrote

[deleted]

41

[deleted] t1_irbe4hg wrote

[deleted]

−7

ddejong42 t1_irbkxko wrote

The legal market says "fuck this, I'm not selling rice for half of what it costs me to buy it". There is no longer any rice on the shelves. But the guy selling rice out of the back of a van for 5 times the legally allowed price (that some store probably reported as "stolen" and wrote it off) has some.

15

Trickity t1_irb937w wrote

People stop selling. People stop working. People stop buying.

33

P0L1Z1STENS0HN t1_irbumc6 wrote

People stop eating.

Are caskets affected by the price hike ban?

10

ash_274 t1_irbvrsn wrote

No need for caskets when you get hungry enough to look for "alternative" meat

10

mmrrbbee t1_ird2b14 wrote

Save some spices, because this holiday we’re making cured ham!

0

Round_Ad8947 t1_irek263 wrote

Like the mathematician’s bird: Polly no meal. Polly gone.

1

Hadren-Blackwater t1_irbv4ny wrote

>Seems like a fun experiment I wish no country did in practice.

Google the soviet union.

2

mmrrbbee t1_ird3k7v wrote

The ussr did have beer along side soda fountains in arcades. Doesn’t quite make up for the death sentence gulags.

1

[deleted] t1_irbdk30 wrote

[deleted]

2

mmrrbbee t1_ird2h6e wrote

Sri Lanka got screwed by the top making them go organic because the leaders stole all their money and couldn’t afford fertilizer and tried to cover it up with spin.

2

hesh582 t1_ireobe9 wrote

Maybe it was interesting at one point, but this has been tried so many goddamn times and we know what happens.

It works a bit, at first. Then the local real economy becomes more and more black market, while the "official" economy grows more and more fucked.

Eventually, if it's taken far enough everything dependent on imports breaks down. Which, today, generally means "everything".

2

Forever_Ambergris t1_irc5mgk wrote

Belarus has already done this at the start of the pandemic in 2020. Not sure what the end result was economy-wise, but people stoped buying as much and small business owners definetely weren't happy

1

supershotmd t1_irf5ezm wrote

In Venezuela what happened is that people started to only accept bartering. Nobody accepted currency anymore. You want a loaf of bread? Well what do you have to trade for it (because I sure as shit aren't giving it to you for the official government price).

1

diamened t1_iraxcjx wrote

Because it worked so well all the times it was tried, right? RIGHT?

31

anonymousbach t1_irb9ybf wrote

Look just because it's failed miserably all the times people have tried this before doesn't mean it won't be a roaring success this time.

16

nonlawyer t1_irbn9fy wrote

He should simply make it illegal for this to fail. Duh.

Man this economy stuff’s easy, idk why we’re always listening to those eggheads with degrees

12

Hadren-Blackwater t1_irbxsa8 wrote

>He should simply make it illegal for this to fail. Duh.

>Man this economy stuff’s easy, idk why we’re always listening to those eggheads with degrees

Some barely literate soviet peasants want to talk to you.

5

Heliolord t1_irbhgd0 wrote

You don't understand! Those previous attempts weren't real! This time they'll get it right! They're way smarter and not corrupt like all those people who tried it before.

7

Hadren-Blackwater t1_irbvni5 wrote

>Because it worked so well all the times it was tried, right? RIGHT?

"ThATs nOt reAL coMmuNiSm/sOCialiSm"

0

Iskar2206 t1_ireqzku wrote

Maybe not the best time to start mocking people when it's your side doing the stupid thing at the moment.

2

iamapizza t1_irax1kn wrote

Belarushing to disaster

26

Negative-Emotion-795 t1_irbrmao wrote

Hey, it worked for Diocletian, amirite?

>The Edict (AD 301) was criticized by Lactantius . . . who blamed the emperors for the inflation and told of fighting and bloodshed that erupted from price tampering. By the end of Diocletian's reign in 305, the Edict was for all practical purposes ignored. The Roman economy as a whole was not substantively stabilized until Constantine's coinage reforms in the 310s.

Guys?

17

jjnefx t1_irazvur wrote

That's not how any of this works

12

onthewaytomoksha t1_irbc7d6 wrote

Try explaining that to Lukashenko 😂

6

ash_274 t1_irbvzmq wrote

Since he's a "little Putin" does that mean that dissenters get defenestrated out of 4th-floor windows?

2

Fake_William_Shatner t1_irb8hdx wrote

This reminds me of when Virginia banned any mention of global warming or sea level rise to tackle global warming and sea level rise. So now they have to deal with "Persistent flooding of the ocean" -- so, Virginia 1 : Science 0 -- suck it losers!

Oh, and, I don't have to make things up to make a joke; https://www.theguardian.com/commentisfree/2015/mar/11/republican-new-climate-change-strategy-ban-words-climate-change

10

t4ct1c4l_j0k3r t1_irdtzmw wrote

Yeah Rick Scott pulled the same shit when he was Governor of Florida.

2

v4por t1_irbai7z wrote

Belarus Leader bans products and services in attempt to tackle inflation (ftfy)

3

algerbanan t1_irbysxu wrote

Belarus, the last standing soviet republic

3

ash_274 t1_ircb6xn wrote

Didn't even change the letterhead after the USSR broke up.

The KGB is still called the KGB in Belarus

3

peensteen t1_irc2g0o wrote

As the royal carriage drew abreast, Symmachus rushed out from the crowd and shouted, "My lord, my mother's dying--"

"I forbid her to do so on this glorious night!" the lord shouted, laughing and scattering coin into the throng. Symmachus was close enough to smell wine on the royal breath.

3

[deleted] t1_irb2mga wrote

[deleted]

2

Hadren-Blackwater t1_irbwpst wrote

>but for basic goods, people don't have a choice.

Either way, it will end in empty shelves or price increases.

You can't really force the free market to do what you want for free and/or without harm to the wider economy.

5

RhythmRobber t1_irf5xp8 wrote

You can't force, but he's saying that *regulation* is still necessary. Too much regulation and too little regulation are both just as bad for the average person in the long run

1

Hadren-Blackwater t1_irfhvci wrote

>You can't force, but he's saying that regulation is still necessary. Too much regulation and too little regulation are both just as bad for the average person in the long run

It's best to support and aid the market rather than dictating it to go against economic gravity.

Like the US does, it supports farmers by regulations that make ethanol made from corn be part of gasoline.

This regulation supports farmers, makes fuel cheaper for consumers AND is good for the environment.

See? Capitalism is like science and nature, forces that can't be suppressed, not evil or good, simply a force of human nature.

It is by embracing Capitalism and incorporating it into your POV that environmentalism can prosper.

If tomorrow someone discovers/creates a material that is much cheaper and/or more efficient than fossil fuels/hydrocarbons then you will see capitalists be among its strongest supporters.

Like i said, Capitalism and capitalists are forces of human nature, they don’t care about if something is good or bad for the environment, you or me, or even Capitalism itself (see big corporations selling socialist merch and material, you can literally buy the communist manifesto from Amazon)

It is by accepting Capitalism and directing it naturally towards things that achieve environmentalist goals can we achieve a realistic and sustainable future for our planet.

1

RhythmRobber t1_irfnsnv wrote

You're close, but I think it's better to think of economic systems as tools instead that need to be wielded appropriately. The problems we see is that we adopt economic systems like religions that can't be switched. Capitalism is good for stimulating growth, but extended use of it ultimately ends in a consolidation of wealth and power.

Socialism is good during times of peace and abundance, or after periods of consolidation through capitalism that requires a redistribution of wealth (middle class citizens with redistributed wealth could then have the means to innovate and grow new sectors if you then switch back from socialism to capitalism, for example.

Hell, even authoritarianism has its uses, although it's difficult (but not impossible) to institute temporarily. The handling of COVID is a perfect example of a proper time for authoritarianism for the good of humanity. Too many people were too dumb to follow the rules that could have made the impacts of COVID substantially less, meaning less deaths and less of a hit on the global economy and supply chain. There have been countries that successfully have used temporary authoritarian means for the good of the citizens, and then those powers were abandoned. It's a dangerous move, but the tool itself is just a force, like you said.

So yeah, they're all tools, but as the saying goes "if a hammer is your only tool, then everything starts to look like a nail", and you can cause some real damage when you don't use the right tool for the job. I think the problem arose mainly during the cold war when US vs Russia became Capitalism vs Communism, and economic systems were forced into our personal identities, and we were taught that capitalism was the best system for everything ever, even though it only won out in that particular situation because that situation called for rapid growth, which is something that capitalism is good for.

1

Hadren-Blackwater t1_irfvpmm wrote

>Capitalism is good for stimulating growth, but extended use of it ultimately ends in a consolidation of wealth and power.

So long as institution are weakened/not strengthened.

So long as power is derived from the people/voters and there's transparency in the political process, there is nothing to worry about.

>Hell, even authoritarianism has its uses, although it's difficult (but not impossible) to institute temporarily. The handling of COVID is a perfect example of a proper time for authoritarianism for the good of humanity. Too many people were too dumb to follow the rules that could have made the impacts of COVID substantially less, meaning less deaths and less of a hit on the global economy and supply chain. There have been countries that successfully have used temporary authoritarian means for the good of the citizens, and then those powers were abandoned.

Political and voter realities are the only concern, if the people want to bestow emergency powers on the "imperial" president, then that's democracy and the will of the people (see de Gaul and Caesar)

>It's a dangerous move, but the tool itself is just a force, like you said.

Indeed.

>So yeah, they're all tools, but as the saying goes "if a hammer is your only tool, then everything starts to look like a nail", and you can cause some real damage when you don't use the right tool for the job. I think the problem arose mainly during the cold war when US vs Russia became Capitalism vs Communism, and economic systems were forced into our personal identities, and we were taught that capitalism was the best system for everything ever

I am not American or western but I still uphold the belief that capitalism (excepting laissez-faire capitalism and its ilk, of course) is the all around best mode of economy.

It is a system that supports meritocracy and fosters innovations that improve the quality of our lives.

Sure, some people will benefit more than others but a raising tide lifts all boats big and small and ideal shouldn't be the enemy of good.

>even though it only won out in that particular situation because that situation called for rapid growth,

False, I can't get into it in a reddit comment but communism was the main disease that caused the systematic symptoms that USSR suffered from.

I suggest you read up on communist command economy to properly understand it.

1

Bill_Nye-LV t1_irbp7m4 wrote

Well boys we did it, inflation is no more

2

CloudyEngineer t1_irbzgmu wrote

Better title: Belarus leader abdicates responsibility for economy to the black market

2

Politenessman_ t1_irch9oo wrote

Great idea. if only someone had thought of that sooner.

Luckily black markets aren't a thing.

2

exhausted_chemist t1_irc2pf0 wrote

You want a black market? Cause that's how you get a black market

1

StThoughtWheelz t1_ircg3iy wrote

No chance that backfires. I suggest investing in wheelbarrows.

1

Saucialiste t1_ircgojz wrote

Modern problems require modern solutions

1

internet_spy t1_irdp5we wrote

The best way to stop inflation is to make cost of living set in ink and chains, 1000 IQ play

1

diacewrb t1_ire5sru wrote

Us brits are not in a position to criticise given that we have price capped our energy costs.

For some, our water bills should be lowered because water companies were dumping sewage everywhere. I believe the government is punishing these companies by forcing discounts to end customers instead of having to pay a fine.

1

TranscendentCabbage t1_irec8mr wrote

Of course, just do everything possible instead of just raising fucking wages

1

Magerfaker t1_irejpd6 wrote

Interesting to see all the comments who think that somehow capping prices is a communist invention.

1

rainer_d t1_iren4wn wrote

Isn’t the EU trying the same with caps on energy prices?

1

NewHedgehog2547 t1_iretlce wrote

Why should we let corporations keep their existing profit margins if it means suffering and hardship for working people? Companies often increase prices well above inflation with no intention of bringing prices back down.

1

Cruxifux t1_irbv11w wrote

Anything to avoid real, systemic change.

0

8ew8135 t1_irbeafb wrote

I, for one, am eager to see a change to demand-side economics. This isn’t a magic bullet, but an unregulated demand-side has obviously been creating extreme wealth and extreme poverty.

I would prefer something in the middle.

−1

Khemith t1_irbj08e wrote

Nixon did this and it worked. Price bans are a good tool to fight inflation.

−6

Airowird t1_irbu88g wrote

Nixon also wasn't a crook, because he said so.

/s

5

Khemith t1_irbun66 wrote

​

https://en.wikipedia.org/wiki/Nixon_shock

−2

Bangemkikkoks t1_irbxj7a wrote

>The Nixon Shock has been widely considered to be a political success, but an economic failure in bringing on the 1973–1975 recession, the stagflation of the 1970s, and the instability of floating currencies. The dollar plunged by a third during the 1970s.

From your own damn link oh wise one

7

Airowird t1_irc4w04 wrote

I was about to quote the same damn thing.

1

Khemith t1_ircpekn wrote

If you haven't noticed capitalism cannot be saved regulation. IT WORKED, but capitalism keeps rolling on into the gutter.

−1

mymar101 t1_irbcu7k wrote

Why not? I have always seen that as the main problem. Price always raises higher and faster than people can afford.

−11

sunsparkda t1_irbka3k wrote

Because if the price the person you are buying from has to pay goes up (because they are buying from outside the market with price fixing) to the point where it's more than he's legally allowed to sell to you + the expenses in selling it, he either "loses" it to the black market or just stops selling it altogether. Either way, you don't get to buy it for the price set, and all sorts of very bad knock on effects happen that make you immensely worse off.

5

mymar101 t1_irbkpwb wrote

They should all lose to the black market then.

0

sunsparkda t1_irbl61m wrote

At which point you are still paying the higher prices (probably even higher than if the government hadn't engaged in price fixing), and you have all the fun and games of dealing with criminals instead of a legal business.

6

mymar101 t1_irbm18y wrote

Yeah well I guess the only real solution is pay people less than enough to live on.

−2