Dumb Central Banks Inflation Fight:
Wrong way to reduce workweek
For a more detailed analysis, see
DumbFed.
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When Central Banks raise interest rates to fight inflation, they increase
unemployment. Directly and indirectly, unemployement reduces average worker's
income. Their rationale: Less money means less inflationary pressure.
Voila. Simple solution to inflation. Overlooked is the impact of
eliminating the workweek for a few.
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When inflation is understood first and foremost as a cheapening of workers'
time then unemployment is the worst form of inflation: 100% cheapening of
a worker's time.
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Unemployment begets hell-on-earth. More jobless workers means more abuse
of drugs, spouses and children as well as road rage and workplace violence.
A 1% rise in unemployment (1.6 million) is matched by 32,000 suicides.
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Directly reducing the workweek so everyone remains employed would eliminate
the Fed's morbid approach to reducing inflation. No recession. No depression.
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Observing rising unemployment in the 1930s, a US Supreme Court Justice proposed
reducing the workweek length to keep full employment of all Americans. Like
the new farmers in Animal Farm, unions said "No way." Instead of reducing
the workweek to address unemployment, big-eared FDR cranked up the money
printing presses per John Maynard Keynes' economic model. Voila. The welfare
state and national debt. And unemployment rose to 25% when a 30-hour workweek
would have been a better solution.
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Central Banks' obsessions with funny numbers on funny paper is an example
of "how economists know the price of everything but the value of
nothing." And,what is the value of anything? Paper numbers? Or, time?
Timism judges all thing by the Morality of More Time. Directly adjusting
the workweek to reduce inflation increases the value of citizens' time, their
lifehours.
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When people know that the workweek length will be adjusted then they will
have the emotional stability of hope, not gnawing angst of hate.
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Timism's
24in4 program
proposes that we could have a 24 hour workweek in 4 years with more time
and funds for self, family, and community in a safer, saner world. The program's
motto is "Share Job Time or Jobless Crime."
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Beware of politicians and economists who say we need more jobs: Simple Climate
Change Test:
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Grow the economy till we die, or,
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Slow the economy so we live?
Adled minds are the wasteshops of economists.
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A key universal action to reverse Climate Hell is
reducing paid work hours. Every paid workhour beyond
the CO2 cost of needs is the CO2 harm of self-lying about what matters--see
Cost
of Humanity. Our lying is the CO2 generated for our wants and for our
play. So that jobhogs can play, the jobless lack the necessities of life.
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Work-sharing is the best way to address the sudden unemployment of Climate
Change refugees from Mother Nature's russian roulette of natural disasters.
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Central banks need to adjust workweek length and stop playing games with
monopoly money. Every economy has an optimal workweek length for full employment.
Politicians need to be enlightened, to wake up, to be woke.
DumbFed.org
Poster
Presidential Pardons
The thousands of last-minute and first-week pardons of both Biden and Trump
calls for a Constitutional Amendment limiting Presidential power to
pardon(details) The
numbers are staggering but so are the crimes of the pardoned. Presidents
shold not have a blank check to pardon relatives, pals, criminals, and library
donors. Ideally, there would be monthly brainbee for pardons by which the
citizens would prioritize candidates to pardon with the President approving
or rejecting. The President would not be able to pardon outside of this brainbee.