Those who would trade Big Government for Big Oligarchy deserve both, and usually get them. This all goes back to Reaganism, Milton Freedman's supply-side economic theories, and blessing the rich with enough tax cuts to give them the economic power to poison the wells of politics, the economy, and our meritocracy. The GOP through Reagan's…
Those who would trade Big Government for Big Oligarchy deserve both, and usually get them. This all goes back to Reaganism, Milton Freedman's supply-side economic theories, and blessing the rich with enough tax cuts to give them the economic power to poison the wells of politics, the economy, and our meritocracy. The GOP through Reagan's economic policies grew the oligarchy that consumed both their party and our economy, and Trump and Musk are direct products of that original sin of low taxes for the rich.
You're talking neoliberalism, Travis - economic liberalization policies designed to increase the role of the private sector in the economy and society. These include privatization, deregulation, consumer choice, globalization, free trade, monetarism, austerity, and reductions in government spending. As economist Steiglitz puts it, these policies were supposed to "result in higher standards of living for everybody. Instead, the U.S. growth rate fell to around two-thirds of its level in the post-war era — a period of tight financial regulations and a top marginal tax rate consistently above 70% — and a greater share of the wealth and income from this limited growth was funneled to the top 1% . . . instead of the promised prosperity, we got deindustrialization, polarization, and a shrinking middle class" [https://www.marketwatch.com/story/three-decades-of-neoliberal-policies-have-decimated-the-middle-class-our-economy-and-our-democracy-2019-05-13].
I don't think you were around in the 7Os and the stagflation brought about by the oil crisis, among other things. Thatcher's and Reagan's economic policies were the response to stagflation.
You might take a look at Steiglitz' alternative, what he calls progressive capitalism.
Those who would trade Big Government for Big Oligarchy deserve both, and usually get them. This all goes back to Reaganism, Milton Freedman's supply-side economic theories, and blessing the rich with enough tax cuts to give them the economic power to poison the wells of politics, the economy, and our meritocracy. The GOP through Reagan's economic policies grew the oligarchy that consumed both their party and our economy, and Trump and Musk are direct products of that original sin of low taxes for the rich.
You're talking neoliberalism, Travis - economic liberalization policies designed to increase the role of the private sector in the economy and society. These include privatization, deregulation, consumer choice, globalization, free trade, monetarism, austerity, and reductions in government spending. As economist Steiglitz puts it, these policies were supposed to "result in higher standards of living for everybody. Instead, the U.S. growth rate fell to around two-thirds of its level in the post-war era — a period of tight financial regulations and a top marginal tax rate consistently above 70% — and a greater share of the wealth and income from this limited growth was funneled to the top 1% . . . instead of the promised prosperity, we got deindustrialization, polarization, and a shrinking middle class" [https://www.marketwatch.com/story/three-decades-of-neoliberal-policies-have-decimated-the-middle-class-our-economy-and-our-democracy-2019-05-13].
I don't think you were around in the 7Os and the stagflation brought about by the oil crisis, among other things. Thatcher's and Reagan's economic policies were the response to stagflation.
You might take a look at Steiglitz' alternative, what he calls progressive capitalism.
I love you, man.
<3