[E]conomics ought to aspire to... a just society... in which compassion is as important as efficiency, if not more so. - John Komlos

[I]n Europe the quantity of land under cultivation could be expanded only slowly; therefore, population growth ran again into Malthusian ceilings in the eighteenth century. The subsequent rise in food prices led to a decline in consumption, particularly of meat, because the for meat was much greater than that of grains.

They were also disregarding the real true unemployment rate... even in January of 2016, among African Americans 16%... were unemployed... so this is not full employment... and by education, among African Americans [those who did not finish high school] 32% were unemployed. Now you know why the George Floyds get into trouble with the law. They are not able to find their place in the legal labor market. ...So this is what Marty Feldstein and Donald Trump think of [as] a good economy. Not in my view!

Here is the , 2008... the assets of the Federal Reserve is under $1 trillion... and within weeks you have more than a doubling of the assets of the Federal Reserve, and then comes 2 and... 3 and by that time you're at $4 1/2 trillion... and then... comes the Covid crisis and we're up to $7 trillion. Now... that kind of a Capitalism is unsustainable. ...[N]o wonder that there is asset inflation as a consequence... and the stock market went through the roof.