As many of you know we spend a great deal of time researching various aspects of modern economics. There are very few people who have a firm grasp on the new economy, and even fewer still who can translate the recent economic structure into current economic predictions.
Professor Mark Blyth is one of the very select few people who grasp the full concept of two economies, Wall Street (fiscal economy) and Main Street (working class, traditional). A few weeks ago Blyth appeared on Tucker Carlson to discuss his thoughts.
Professor Blyth is well worth listening to because while he uses different terminology, he is essentially describing the exact conditions we have been discussing here for the last several years. He gets it, and we believe he’s correct.
Blyth describes political economics as an outcome of a decades shift from valuing wages (traditional main street production value) to valuing/emphasizing pricing (Wall street) etc. What he outlines is exactly what we have described in the New Economic Dimension.
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