The Uneasy Triangle
You can only choose 2 of 3.
Choosing all three leads to economic collapse.
https://en.wikipedia.org/wiki/Trilemma#.22The_Uneasy_Triangle.22
In 1952, the British magazine, The Economist, published a series of articles on an "Uneasy Triangle," which described "the three-cornered incompatibility between a stable price level, full employment, and ... free collective bargaining." The context was the difficulty maintaining external balance without sacrificing two sacrosanct political values, jobs for all and unrestricted labor rights. Inflation resulting from labor militancy in the context of full employment put powerful downward pressure on the pound sterling. Runs on the pound triggered a long series of economically and politically disruptive "stop-go" policies (deflation followed by reflation).[11] John Maynard Keynes had anticipated the severe problem associated with reconciling full employment with stable prices without sacrificing democracy and the associational rights of labor.[12] The same incompatibilities were also elaborated on in Charles Lindblom's 1949 book, Unions and Capitalism.[13]
we have this triangle meme in software engineering too
muh models
>>68105627
so u dont know?
the superior answer is to dump protectionism.
pushes education
keeps prices low
disparity is inevitable to some degree.
mitigate with social safety net.
>>68103942
What a shame the left middle side causes everyone in 1st world country to adopt the living conditions of those in the 3rd world.
So I choose the right side.
>>68107263
have fun with depreciating currency
>>68107329
So the foreign purchasing power will be lowered?
Who cares, America (which I am basing the opinion on) has everything they need right in America.
Also i'm not a Keynesian so nope.
>>68106864
>global poverty
>taking a minimum wage from my country and giving it to a chink for 1% of the price benefits my country somehow
dropped
>>68107658
>So the foreign purchasing power will be lowered?
Think about all the things you buy from another county.
Now think about the cost of rebuilding all the capital to make those things again.
Domestic purchasing power gets devalued too. Protectionism pushes up prices.
![[Coalgirls]_The_Idolmaster_16_(1920x1080_Blu-ray_FLAC)_[3CA1F8CD].mkv_snapshot_05.29_[2016.02.13_23.56.59].jpg](https://i.imgur.com/PbBHoEi.jpg "[Coalgirls]_The_Idolmaster_16_(1920x1080_Blu-ray_FLAC)_[3CA1F8CD].mkv_snapshot_05.29_[2016.02.13_23.56.59].jpg")
>>68103942
The obvious answer is stable prices and protectionism.
Sure unemployment will inflate like crazy but that won't matter as long as we also bring in a few million sandniggers.
>>68107785
>Think about all the things you buy from another county.
When then I wouldn't be?
The market finds a way :D
>Now think about the cost of rebuilding all the capital to make those things again.
>Domestic purchasing power gets devalued too. Protectionism pushes up prices.
REMINDER
Without America exploiting foreign slave labor American manufacturing with be be hugely advanced, large factories that only need a few people to run. (similar to the absolution of slavery made mass production viable.)
You could've been living in the Jetsons world goyim but you chose to advance the rest of the world.
>>68108035
Or robots.
>>68108105
>Without America exploiting foreign slave labor
>Giving poor people comparatively good jobs
>slavery
Yea, they should all go back to collecting scrap metal, prostitution and growing drugs.
Real progressive.
>>68108035
>unemployment will inflate like crazy
>as long as we also bring in a few million sandniggers.
wut?
>>68108253
I used it figuratively you moron
Let me explain it to you.
Shirts are made in America.
The company finds they can save money by buying a factory is oga booga land, they same money on wages so they move. This is our reality.
Alternative reality.
There is no place in which they can exploit low wages so they must cut costs else where. They increasing automate more and more freeing up people to go to other things. in order to continue cutting costs they are invested in cheap energy and battery technology therefore advancing the society.
The 3rd world would still advance just slower and not at the determent of the 1st world.
>>68108878
>There is no place in which they can exploit low wages
impossible reality
there will always be a marginal cost of labor lower than the average.
All automation will do is move people to where the cost of robot capital is still way higher than employing humans.
>>68109022
not low enough to spend millions and move the factory.
It is easier if the labour comes to them via people moving in order to gain employment.
>All automation will do is move people to where the cost of robot capital is still way higher than employing humans.
True and you don't need a human to make a shirt.
or even a car.
Humans will move to places where it requires intelligence rather than the repetition of a task.
Society is better off.
>>68109298
Ausposter intelligently contributing to the discussion and proving his point with facts and reason
Well posted m'lad
>>68103942
Max Employment + Protectionism + credit controls on banks, something no liberal democratic country does because "muh rights"
>>68109944
We need to spicy it up you know.
I will shitpost elsewhere, I am you in a different time period.
>>68110110
I'm curious, explain how credit controls would stop price fluctuations?
>>68110170
It can't stop fluctuations but it can stop endogeneously generated inflation, both by sector and in general. One of the biggest problems in western economies currently is inflation-by-sector.
>>68109298
All the automation is not going to occur uniformly, their will be delays in scaling up to handle more and more complex tasks.
If you spend your resources to make something in your country, that could have been bought from another county using less of your resources, then you leave your country worse of materially.
Division of labor is a good thing. Saddling people with higher prices in order to prevent them from specializing puts the cart before the horse.
>>68110170
>>68110394
>explain how credit controls would stop price fluctuations?
by fixing the exchange rate
>>68110110
>attempt all three
credit controls on banks are an attempt to stabilize prices. If you do that at the same time as walling off your domestic economy and spending to stimulate employment, you devalue your currency until you cannot pay for anything and then shortages occur.
Utter fucking ruin.
