The title of this article refers to the relatively new chairman, Jerome Powell, of the Federal Reserve who expressed surprise at the failure for wages to rise in this period of supposedly low unemployment and corporate tax cuts. Likewise, this mystery affects a lot of Radford's friend in the economics profession.
He writes that there is no mystery. Those, in the upper-middle class, who work in high places serve their capitalist masters. To do this, they frequently encounter contradictions between capitalist theory and reality. To psychologically handle these contradictions, they must, in order to serve their masters and earn high salaries and numerous perks, engage in self-deceptions consciously or unconsciously.
... reality has become inconvenient. It contradicts what our elite prefers to believe.
So rather than waste time tearing their hair out over Trump’s manifest ignorance and disregard for democracy, perhaps my friends all ought to be pondering their own role in transferring power to the unelected elite that is currently enriching itself and starving the masses of a prosperous and secure future.
