A patron of Economic Update asks: "I’ve heard a critique of social democracy from some socialists and it goes like this: because of increased taxes for social democratic reforms, corporations will seek cheap labor and resources of the global south to stay competitive on the global market. Now this would give incentive for a social democracy to inhibit the global south from their own socialism or just increased living standards because then our prices would also increase, possibly even leading to cutting those reforms. Please give your thoughts on the validity of this critique."
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“A magnificent source of hope and insight.”
Yanis Varoufakis, Greek economist, academic, philosopher, politician, author of Talking to my daughter about the economy
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