@pluralistic
Item 14: that definition of #DistributionalEffects requires a re-definition.

Economismists think that you're stupid if you care about this, though. If you're keeping score on "free markets" based on who gets how much money, or how much inequality they produce, you're committing the sin of caring about "#DistributionalEffects."

Smart economismists care about the *size* of the pie, not who gets which slice.

14/

An economy "cools down" when workers have less money, which means that the prices offered for goods and services go down, as fewer workers have less money to spend. As with every #macroeconomic policy, raising interest rates has "#DistributionalEffects," which is #economist-speak for "winners and losers."

2/