Liberal Economics be like

That's not "liberal economics", that's just "Capitalism in practice".

Have you noticed how liberalism is always pro-capitalism?
- Uh, liberals tend to want to shift capitalism towards something more equitable - you know, something that doesn't leave so many people jobless or homeless.
Where is the difference?
- So if your question is in good faith let's break it down a little.
  
  Capitalism is a economic system. It may have some liberal or conservative slant inherently, but in theory there isn't anything implicit.
  
  A liberal or conservative economic policy would be how you manage that economic system. Liberal economic policy should tend to favor rules and regulations to account for the flaws of unchecked capitalism. Conservative policy tends towards less regulation, relying on the market system to set prices for goods and services.
  
  Personally, I'm liberal because the ultimate goal for any capitalist is a monopoly. Often in that situation, you get an unequal power dynamic that allows a company to stay ahead of competition or bully them out of the market, preventing the market from setting prices. Additionally liberal policy tries to regulate negative externalities, such as companies dumping chemicals in a river (such as when the Ohio river caught on fire leading to the creation of the EPA). Frankly, these are real problems inherent in capitalism that conservative policy doesn't address because it makes the rich richer. It's pretty disingenuous to argue that liberal policy is there to benefit the rich.
  
  Anyway, that's a super basic breakdown. None of that is say there isn't corruption from the rich and greedy in politics. Frankly, money equating to political influence is crazy and has allowed the weathly to completely shape world policy. If you want change, look to rank choice voting systems or other ways to move more choice and power back to voters.
You just said the same thing twice
- Welcome to Lemmy
- Liberals tend to be against handing large amounts of money over to big corporations, though.

"liberal economics" ? Seriously? This flowchart describes every POS robber baron capitalist for the last several centuries.

Economic liberalism is the economic theory of both American parties. Idk how it came to be applied to only the democratic party but that's incorrect. OP is presumably critiquing economic liberalism from a leftist perspective, of which the Democrats are not
those are the effects of liberal capitalism
Right?! This is gaslighting pure and simple. Trump gave tax breaks to his corporate cronies on the backs of the poor and middle class. Was Trump a liberal? How about Bush? Clinton (who was a Democrat) made substantial strides toward fixing the economy. But I guess he was a conservative? Idiots don't know the meanings of words. Next you'll tell us that socialism and communism are both the same thing and what liberals want for the country.

What definition of liberal are you using here?

the one of (neo)liberalism. An economic state which is accepted and perpetuated by virtually all sides of the culture war
- Historically by the right wing then.

There's 0 real economists who hold anything close to these views. What a stupid take. Before you downvote, I ask that you find a single source that contradicts my claim. Since all liberal economics is like that, it should be easy, right?

Doesn't matter what academics think or teach when this is what happens in the real world
- Examples? I would love some free billions!
Economists may not be like that, but politicians are, and they're the ones that run the economy.
- Sure, but that's not what the post is about.
Were you not alive during the 2008 global financial meltdown? Where the entire world had to subsidize the 1% because the banks they own sold garbage mortgages?

What about more recently with the bank runs that we had a month or so ago? The fed implented a new "insurance warranty" to make banks whole again "without using tax payer funds" but we both know that's a load of bullshit...

Now we have this never ending inflation, interest rates only going up for who knows how long... Literally siphoning your money from whatever savings you have left and if you're already broke, they are taking away any buying power you had and taking it down to nothing...

So yea, fuck whatever bullshit economic theory or whatever academic bullshit you are talking about, regardless of whatever "politics" it's tagged under... Its the 1% snatching away any and all power that the people accumulated over this covid recovery (strong labour market, practically 0 interest during peak covid, work from home, etc)

Thanks for listening to my Ted talk..

*a word
Sure, real economists don't explicitly hold those views. But the kinds of metrics and models liberal economists are fond of using basically lead to that flowchart.

FTFY:

good one

This is definitely not "Liberal Economics".

aka "Reaganomics"

I don't get it. Billionaires do billionaires things, but this meme being made the same week as a liberal policy requiring fair taxes for the rich to cover social security for the next 75 years makes this poster 100% out of touch.

The use of the word liberal here is not the same as the one used by the one commonly used in conversation. This meme is talking about neoliberalism which is the dominant economic idea in the US and UK right now.
- It’s the dominant economic idea in the entire western world.
  
  Even the Social democracies like Sweden are just a degree of neo liberalism. You won’t find most people saying they want communism.
  
  If anything hardcore leftists are out of touch, including the OP.
  
  You can downvote me all you want, but it’s no secret that this instance was essentially a communist refuge lol.
First of all, I don't know which country you are talking about which put these policies in place. And it does not matter as it does not alleviate the exploitation inherent in capitalism, it only puts a nice coat of paint over it...
- They’re probably US-American, who thinks liberalism is the farthest you can get as a “leftist” and that liberalism is not just spiced up centre(-left).
Has this liberal policy you talk about actually done anything to threaten capitalism in any way?
It's the kind of meaningless vague posting that rightoids are rightly criticised for when they post shit about the people they consider to be the 'problem'. It's vaguely shaped like the way they see the world, but really this is about as substantial as the 'immigrant benefit fraud' posts your shitty uncle posts.

I don't even know what this is referencing, or how this would work, but everyone is in here saying 'Omg so true' and believing that this is the reason that things are shitty.

Like, everyone's quick to jump on bollocks conspiracy theories, and consider such things as flat-earthers to be significant in any way, but you'll constantly see vague shit implying these enormous, unlikely conspiracies between multiple competing companies, the government, involving the collusion and silence of thousands of people, and they get up voted because people believe it's the sort of thing that could happen.

What bothers me is that it ends up coming to 'someone should do something about this!', but exaggerating constantly makes extreme options look reasonable or even necessary.

Very few people can actually say what they'd want the new status-quo to look like though, outside of vague slogans or utopian ideas that those in power will somehow do things wisely, justly and selflessly, like they never have before. We can't compare to any other attempt at communism, and even the most prosperous socialist state would be considered 'neolib'. Because the thing is, it's really not clear how communism is the silver bullet many think it is, but also, the vagueness and disparity about the end goal means that we can't really look at our current situation, look at the proposed one, look at what it will take to get there, and make an informed decision on which is likely to actually make things better.
Liberal in economics and Liberal in US politics mean two very distinct and different things. It's like the way a 'runner' in a race is different to a 'runner' in a restaurant. They're not the same things at all.

Economic liberalism means free trade and deregulation. If it makes money, it's good. Neoliberalism is also referred to as 'hypercapitalism'.

'Liberal' in US politics means 'left of the GOP' and is its own unique thing. It bears no relation to economic liberalism at all. The two may coincide but they're independent of one another.
OP's account is full of this type of half thought out, zero context, communist propaganda memes. I don't even disagree with the premise of most of them in general, but it's just turning this place into an auth-left Facebook.
- Oh no! Not the "auth-left." They may make corporations exist for the good of the people instead of profit.
Did that policy become law?
Which policy is that? Does it have a built in way to prevent accumlation of wealth? Maybe a death tax? Maybe some nationalizing of industry's? No? Then it sounds like you are the one out of touch.

that's billions of tax payers money with the tax burden being disproportionately heavy for the 90% while the 10% pay less and less taxes the richer they are

I like how on lemmy you see both how much upvotes and downvotes you have, on reddit you could have a score of 1 and don’t know much has happened, but with lemmy you could have 50 upvotes and 49 downvotes, making you really think about it…
- Not only that, but admins and kbinners can actually view which accounts upvoted and which downvoted each comment.
False, the bottom 90% paid about 25% of income taxes (in the US at least). https://taxfoundation.org/publications/latest-federal-income-tax-data/
- it's about the percentage of income paid, not the net sum
- But I think what they mean is that the 90% are more affected by it, because proportional it's a bigger chunk of their income missing.
  
  But I could be wrong

Neo liberal, but yes.

How is a liberal not a capitalist supporter?
- There's a drastic difference between a neoliberal and a liberal. They're very different terms.

It's just socialism for companies

not rly, it's capitalism working as intended
- I guess I forgot the /s What I meant was capitalist socialism
You can kind of see it that way... the rich get corporate, state-engineered socialism while the non-rich gets brutal "free market" capitalism.

Once again, I blame the Chicago school of economics. Fuck that economic theory. It's exactly why we have the mega corporations of today, it's entire purpose was to neuter the Sherman antitrust act after Roosevelt's crusade against the trusts.

the chicago school is just a natural development of capitalism. In competition instead of cooperation, the winner absorbs the looser and cetralizes production more and more into oligopolies. Even if you turned back the time before the era of "crony/coorperate capitalism" it would take but a bit of time to get back to the state we are in right now...

reagan's a liberal?

He's a neoliberal which is an economic stance that promotes deregulation of the markets and support of free trade along with government austerity.
always has been (in terms of economics)
- HAHaHAHAHAHAHA

People upvoting this do not understand geopolitics.

People who think this is geopolitical don't know what "geo" means
Sir, This is America

I'm a firm believer that all sides rob cheat and steal. Some more than others though...

Theyre always trying to widen the gap between the upper and middle/lower class. They hate you and believe the only reason you exist is to make them money. People often blaim capitalism but this isn't the real issue. Its the politicians who are in bed with the corporations.

Now I must ask, who are you implying is giving money for free to investors?

Because that’s not how economy works.

sir, this is a ~~Wendies~~ meme. In the end it boils down to the capitalist goverments bayling out those who don't need it (billionaires and millionaires) and giving credit for virtually nothing. Ofc it's a simplification since this is a meme, not a chart for econ class
- But that’s how capitalism works. You invest your money into something instead of using it on yourself.
  
  And in exchange for the risk taking, because each investment is a huge risk, you become (in case of stocks) a shareholder. And a as a shareholder and risk taker, you get compensated for your risk taking with dividends.
  
  Why invest your own cash into something and take a risk without getting something in exchange? That would be considered stupid.
  
  I invested into Wirecard back then and guess where the money went… Investments are bound to risk. And taking a risk must be rewarded.
Now I must ask, who are you implying is giving money for free to investors? Because that’s not how economy works.

https://thehill.com/opinion/finance/448336-did-the-rich-get-all-of-trumps-tax-cuts/

Whether the Tax Cuts and Jobs Act (TCJA) disproportionately helped the rich may be 2020’s biggest political issue. Treasury Secretary Steve Mnuchin claims that it benefited most Americans. Sen. Bernie Sanders (I-Vt.) calls it a massive giveaway to the rich.
- First off, there was no money given. You are speaking about tax cuts.
  
  And in the same article you linked, it is not clarified if the rich actually profited more from it/ made better use of the tax cuts. The article claims that the analysts are wrong. And that’s it.

The libtards in this thread are funny hahahah

oh come on, please don't use words like that
I hope it's sarcasm
- They actually believe right-wing politicians are helping the working class

While this is definitely a true flow chart, the headline is misguided. Considering the only difference between the right and left when it comes to corporations is how honest they are about their policies. The right says they will do it, the left says they won't, and then they both do exactly the same shit.

that's not a left/right divide. it's a right/further right divide. And even staunch conservatives follow (neo)liberal economics.

This is a flow chart from a leftists/socialist perspective

Liberal economics be like let's get rid of capitalism

That's left or socialist. Left doesn't equal liberal.
- Left doesn't equal liberal and liberal equals not capitalism. Both are true
No, those are socialist economics.
- To-may-to to-mah-to
I think you're confusing the US definition of liberal with the definition of liberal in near the rest of the world. Even in Canada the Liberals are centre at best
- Nah I'm not. I know that US/UK/AUS/anglosphere capitalists try to say they're liberal but there's nothing liberal under a capitalist hierarchy. Apparently they're trying to be sneaky in Canada as well