GreedyNovel t1_iubfklr wrote on October 30, 2022 at 1:11 AM

Reply to comment by thisvideoiswrong in Shell paid zero windfall tax in UK despite record global profits by hugglenugget

Every economist in the world knows full well that the simplistic assumptions you've mentioned here aren't really true and are only there to help Econ 101 students start to learn the subject. If you study the field more deeply you'll see these assumptions are relaxed to varying degrees.

You aren't exactly breaking new ground here, you're just operating under the assumption that Econ 101 is being taught as the "Truth" to everything when in fact it isn't.

thisvideoiswrong t1_iubiu6k wrote on October 30, 2022 at 1:38 AM

Unfortunately there's a massive difference between what economists know and what conservative politicians talk about. And the media will never admit that those politicians are clearly wrong and probably deliberately lying (as a practical matter, when that power doesn't go to consumers it goes to big business, and conservatives care about little else besides what's good for big business). So in any policy discussion we get huge numbers of people saying that the market will take care of it, and they're wrong.

GreedyNovel t1_iubnf90 wrote on October 30, 2022 at 2:16 AM

Politicians always lie. Liberal politicians do too, of course, for their own special interests and donors.

It's all about convincing Joe Public who doesn't know very much or give much thought to these matters to peacefully line up at the polls instead of violently marching on the streets. Not much more than that, but that's socially useful too.