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Even Krugman is a swami in comparison to that smarmy little punk.I suspect there's not much of an audience for Clinton's former grinder monkey. He and Krugman have long since proven their expertise in applied basket weaving.
Like we already said: an economic illiterate who is self-righteous in his sheer ignoranceThere is no Free Market in nature:
Everything You Need to Know About the New Economy
"To understand what really happened, it’s critical to understand that there is no 'free market' in nature.
"The term 'free market' suggests outcomes are objectively fair and that any 'intervention' in the free market is somehow 'unnatural.'
"But in reality, markets cannot exist without people constructing them. Markets depend on rules, and rules come out of legislatures, executive agencies, and courts.
"The biggest political change over the last four decades is the overwhelming dominance of big money in politics – influencing what those rules are to be."
Reich and Krugman are economic illiterates
An increase in productivity is almost never the result of workers working harder or smarter; it is usually either automation or some other technological improvement. In fact, workers often have it easier when new technology comes in to make them more productive.
Tipped workers with a three-digit IQ understand that this innovation would harm them immediately. The employers will increase their prices by at least 20% to compensate for the higher base wages, and tips will simply go away, in most cases. When I go out to dinner with my wife and spend $40, I tip $10 to make it an even $50. If that meal is now $50, the tip goes away, and the waitress actually makes less.