[TE Summary] Jun 1st, 2017 - Free exchange - In Donald Trump's America, the left rethinks its economics
Free exchange
In Donald Trump's America, the left rethinks its economics
Democrats want to become again the working people's party
Print edition, Finance and economics, Jun 1st, 2017
1. The emergence of Trump upended Democrats' old version of economic policies.
2. Reflecting then-current intellectual trend in inflation and falling productivity in the 1970s, Democrats generally promoted a limber, free, flexible economy by smoothing rough edges of the market while attempting to provide education and progressive taxation to level the playing field.
3. As wage growth stalled in the 2000s, a new view got more prevalent which argued that Republican policies, from trade deals affecting low-skilled manufacturing jobs to "right-to-work" laws sapping the labor power, tended to alter the economic power balance, and Democrats' focus on efficiency also exacerbated this trend.
4. That view is widespread among the left that stagnant wages and rising inability impair workers' ability to adjust to the costs of globalization, which can doom the economy to perpetual "secular" stagnation.
5. Leading voices such as Bernie Sanders and Warren Elizabeth are full-throatedly and boldly proposing free public university fees, reducing student-loan debt, and a single-payer health insurance system.
6. the orthodox left still prefers public goods investment such as education and research, more government spending, and anti-trust policy.
7. a job guarantee from the government acting as a clearing house matching would-be workers with job openings can set a floor for living standard and private-sector job quality and meeting unmet social needs.
8. a universal base income (UBI), a "citizen's dividend" appears to be not exclusively lefty proposal because it gets supports from Mark Zuckerberg whose politics are obscure
9. Although those two are not realistic because of tax increase and potentially large, unforeseeable and unwelcome side effects, they can enhance workers' power against lousy private-sector jobs.
Labor's love lost
10. Even if the policies are viable, it leaves the left in a bind because it can bring to the world unforeseeable future where most do not hold paying, private jobs.
Q. What is the political relevance
Q. What is the meaning of the sentence, "Political relevance, like middle-class prosperity, is harder to sustain than once appreciated.
Permalink
http://eoesociety.blogspot.com/2017/06/te-article-summary-jun-1st-2017-free.html
In Donald Trump's America, the left rethinks its economics
Democrats want to become again the working people's party
Print edition, Finance and economics, Jun 1st, 2017
1. The emergence of Trump upended Democrats' old version of economic policies.
2. Reflecting then-current intellectual trend in inflation and falling productivity in the 1970s, Democrats generally promoted a limber, free, flexible economy by smoothing rough edges of the market while attempting to provide education and progressive taxation to level the playing field.
3. As wage growth stalled in the 2000s, a new view got more prevalent which argued that Republican policies, from trade deals affecting low-skilled manufacturing jobs to "right-to-work" laws sapping the labor power, tended to alter the economic power balance, and Democrats' focus on efficiency also exacerbated this trend.
4. That view is widespread among the left that stagnant wages and rising inability impair workers' ability to adjust to the costs of globalization, which can doom the economy to perpetual "secular" stagnation.
5. Leading voices such as Bernie Sanders and Warren Elizabeth are full-throatedly and boldly proposing free public university fees, reducing student-loan debt, and a single-payer health insurance system.
6. the orthodox left still prefers public goods investment such as education and research, more government spending, and anti-trust policy.
7. a job guarantee from the government acting as a clearing house matching would-be workers with job openings can set a floor for living standard and private-sector job quality and meeting unmet social needs.
8. a universal base income (UBI), a "citizen's dividend" appears to be not exclusively lefty proposal because it gets supports from Mark Zuckerberg whose politics are obscure
9. Although those two are not realistic because of tax increase and potentially large, unforeseeable and unwelcome side effects, they can enhance workers' power against lousy private-sector jobs.
Labor's love lost
10. Even if the policies are viable, it leaves the left in a bind because it can bring to the world unforeseeable future where most do not hold paying, private jobs.
Q. What is the political relevance
Q. What is the meaning of the sentence, "Political relevance, like middle-class prosperity, is harder to sustain than once appreciated.
Permalink
http://eoesociety.blogspot.com/2017/06/te-article-summary-jun-1st-2017-free.html
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