Political Economy category archive
The Whitelash 0
Darcia F. Narvaez explores the human cost of what she refers to as “movement conservatism,” which is defined in detail in the opening of her article. She cites several specific examples from the research of Jonathan Metzl (citation at the link), arguing that the policies are rooted in racism, but ultimately rebounded to harm the white voters who supported them.
Follow the link for very specific examples, and, as you do, remember the words of Lyndon Johnson.
(Broken link fixed.)
The Case of the Base 0
At Psychology Today Blogs, Vinita Mehta points out that the conventional wisdom as to the roots of Donald Trump’s support are not born out by facts (emphasis added).
So, why did Trump amass a larger following than expected?
She goes on to cite an article by Professor Thomas Pettigrew and to explore the five factors that he identifies as characterizing Trump’s core supporters, which include
1. Social Dominance Orientation
2. Authoritarianism
3. Relative (i. e., perceived–ed.) deprivation
4. Prejudice
5. Intergroup contact (or lack thereof–ed.)
I commend the entire piece to your attention.
The Privatization Scam, There’s No Money To Be Made from the Public Good Dept. 0
David and Richard Wolff discuss the economic reasons why capitalism failed to protect the public from the pandemic.
Sacrificial Lambs 0
At the Idaho State Journal, Jim Jones explains.
Taxed beyond Endurance 0
I paid more in federal income tax last year than Donald Trump paid in the last decade.
Hell, I paid more in state income tax last year–oh, never mind.
Of course, the cultists will be in no way discombobulated, because Dear Leader is always right and never wrong.
Follow the Money 0
Thom and Dr. Richard Wolff discuss the economic underpinnings of racial and ethnic discrimination and police brutality.
The Businesses of America Are Giving America the Businesses 0
Mike Ellerbrock points to a number for factors to explain what he dubs “the lopsided evolution of income, wealth, and power during the last four decades.” Follow the link for a detailed discussion of each one.
- Stakeholders vs Shareholders.
- Workers’ Wages.
- Workplace Justice.
- Corporate Welfare.
- Market Concentration.
- Civic Leadership.
The Stock Market Is Not the Economy 0
The Bonddad Blog has an informative article explaining why the stock market can do well while the overall economy is hurting.
The short version is that the stocks of certain large tech companies have boomed because of their usefulness in a work-and-study-from-home-during-the-pandemic environment. In contrast, the portions of the economy that affect and are peopled by everyday persons (that is, not what is sometimes referred to as the “investor class”) are suffering, along with the persons who live in and depend on them.
The long version is at the link.
Afterthought:
I need a new tube for one of my bicycle tires, so, late last week, I headed out to my local bike shop, where I’ve been trading since I moved to these parts, only to find that it was gone. The two stores on either side of it in the little shopping center were also closed.
Persons who can afford boats to parade in are not worrying about catching up with last month’s rent because the restaurant or store they used to work in has closed.