Political Economy category archive
A Lethal Combination 0
Robert Reich considers what led to the Trumpling and concludes that there were two main ingredients in a toxic stew. Neither alone is a sufficient explanation, but which together boiled reacted like baking soda and vinegar. A snippet:
One explanation focuses on economic hardship. The working class fell for Trump’s economic populism.
A competing explanation — which got a boost this month from a study published by the National Academy of Sciences — dismisses economic hardship and blames it on whites’ fear of losing status to blacks and immigrants. They were attracted to Trump’s form of identity politics: bigotry.
(snip)
Yet the truth isn’t found in one explanation or the other. It’s in the interplay between the two.
Follow the link for the rest.
The Return of Smoot-Hawley 0
It’s deja vu all over again.
The Pusher Men, Goldman’s Sacks Dept. 0
Thom explains that, for Big Pharma profits, a cure is worse than the disease.
No Raise for the Weary 0
And this surprises you how?
Nose. Spite. Face. 0
Paul Krugman discusses the economic divide that powers Trumpery and Republicanism. He points out how voting for Donald Trump and his enablers and sycophants is likely to have precisely the opposite effect that his supporters desire. A snippet:
This, of course, is why the Republican Party focuses so much on cultural issues and the politics of hate. They know their economic goals cannot pass muster.
Follow the link for the complete article.
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*That is, between poorer and richer states after the Depression and up till Reaganomics.
Trumpling Amazon 0
At El Reg, Kieran McCarthy deconstructs Donald Trump’s tirades against Amazon. A snippet:
Not that Amazon pays a large sum as a percentage of profits. According to an extensive market analysis of the company last year, Amazon pays an overall 13 per cent in federal, state and local taxes. This is much lower than the average large company – which pays around 27 per cent – so you can imagine why Trump is furious.
If, that is, you ignore his persistent calls for a 15 per cent corporate tax rate.
Full disclosure: I am not a fan of Amazon and its attempt to assimilate American retail. I avoid using it as much as possible, but I do use it from time to time, primarily for books.
“Whatever You Say, Boss” 0
Paul Krugman notes a disturbing trend (one among many) at Donald Trump’s White House: The devolution of “advisers” into “yes-men.” The article focuses on Trump’s economic adviser, Peter Navarro.
Here’s a bit (emphasis added):
What Is the Common Good? 0
Thom answers a caller’s question.