We have to reckon with the fact that the dominant wing of the Democratic Party simply does not want to improve the country. They and their donors are quite happy to accumulate wealth under Trump, win on thermostatic reaction, and then do nothing once they retake power. Apres moi le deluge.
Very important argument. In conversations with others - Democrats - the wrong lessons are already being learned from this crisis and response. The boldness was critical and had many positive effects. Thanks for putting this together.
I agree, but the "many positive effects" did not carry over into electoral success, and as we know, elections have consequences. So, did American voters fail to see those positives in their lives? Did Democratic leaders fail to get the good news out? Something else?
Democratic leaders failed to use further fiscal tools to shield large segments of the electorate in the bottom income/wealth quartiles from the “price shock” of pandemic supply chains and the war in Ukraine/sanctions. Of course since they are neoliberals to their very marrow, the sort of recommendations an Isabella Weber was likely to have made would have been anathema.
So — back to the political wilderness with them, not that they learn very much from such sojourns …
These are important questions. One thing I think we can say is that the political economy of providing material benefits to voters translating into political support is, at best, incomplete. This was - approximately - the argument against "deliverism" which highlights the need for better communications and clarity, if not also better issue selection and other strategic choices.
“Deliverism” is useless if the supposed benefits take too long to manifest. And getting rid of income supports just as inflation hits is sort of the opposite of “deliverism” isn’t it?
This article seems to put a lot of emphasis on the wrong question, and the analysis seems quite flawed. It is misleading to compare the COVID recession to 2001 or 2008. Those previous recessions were driven by totally different factors. In retrospect, COVID may well be best described as a transitory recession (a mile deep but an foot wide). And although one can challenge the exact timing of monetary policy, the true political battle is about the size of the fiscal response. We essentially flushed a huge amount of money into private hands, resulting in some easing of the impacts of the recession (great!) but also a big impact in raising already inflated asset prices and increasing public debt and so making it difficult to finance major public investment needs (not so great). Let's look at the whole picture properly when assessing the pros and cons of the COVID fiscal and monetary response.
With MMT, we can finance the government spending we want with no increase in public debt. So that issue is solvable. As for the "inflated" price of assets, the solution would be to increase the number of assets, making them more common and more widely distributed and more affordable. Increase supply in other words.
So much easier to frighten ignorant people with torrents of lies than to try to pursue the truth. We have one party that works more or less on public policy and another party that works on gaming the system to win elections and reap the spoils. It's their only path to victory.
But Conservatives and Republicans are somehow immune to only learning the lessons they want to learn? I don't think so. I see an awful lot of wishful thinking there also. I would say Trump's entire political career seems to be wishful thinking. Mainly the wishful thought that he is going to "save" America. He will do no such thing. Instead he will deliver America to the Billionaires. Watch and see.
Okay... I thought I would add Conservatives and Republicans in. Since to leave them out was kinda like giving them a free pass. One I am not inclined to give them.
Larry Summers' influence and ideas are the best example of George DeMartino's concept of Econogenic Harm. There would be no consequences for him when thousands of Americans are thrown out of their jobs and homes due to the jump in unemployment.
Whatever one might say about the US political economy and inflation, the grim truth is the majority of voters who went to the polls, voted for Trump -- after all that's known about him + all he's done. Terrifying.
Once the elimination of the dead voters and millions of illegal immigrants are removed from State voting rolls Donald Trump won by a landslide. Blue states protected cheating. Hope for the best. The second move after removing criminal (sic) illegal immigrats, is to go after every business gouging products over 60% since easing restrictions and fully opening businesses after COVID19 subsided miraculously as sleepy joe was inserted as president. Most businesses in NYC have grossly compensated for their losses 📉 by over pricing. Uber and Lyft need to be taken to court for over-taxing it's customers. NYC needs a revamp in every which way specifically in policing. The City has turned in to a haven for crimnals against its citizens. Much of the crimes committed by foreign nationals. Fact. Next, open up the oil pipeline. It's freezing 🥶 in New York City at 28 degrees and we have no heat. Opening up the pipeline will allow businesses to run their establishments warmer (at a lower price), it's a start to bringing about an Optimistic approach to serving my Nation but none of these measures can happen effectively if the support by "we the people" isn't there nor if honesty, isn't there within the federal government. Lastly, nothing good is going to happen if this Nation doesn't turn its face to the Almighty Creator in Repentance and Thanksgiving. Everyday.
We have to reckon with the fact that the dominant wing of the Democratic Party simply does not want to improve the country. They and their donors are quite happy to accumulate wealth under Trump, win on thermostatic reaction, and then do nothing once they retake power. Apres moi le deluge.
Very important argument. In conversations with others - Democrats - the wrong lessons are already being learned from this crisis and response. The boldness was critical and had many positive effects. Thanks for putting this together.
I agree, but the "many positive effects" did not carry over into electoral success, and as we know, elections have consequences. So, did American voters fail to see those positives in their lives? Did Democratic leaders fail to get the good news out? Something else?
Democratic leaders failed to use further fiscal tools to shield large segments of the electorate in the bottom income/wealth quartiles from the “price shock” of pandemic supply chains and the war in Ukraine/sanctions. Of course since they are neoliberals to their very marrow, the sort of recommendations an Isabella Weber was likely to have made would have been anathema.
So — back to the political wilderness with them, not that they learn very much from such sojourns …
These are important questions. One thing I think we can say is that the political economy of providing material benefits to voters translating into political support is, at best, incomplete. This was - approximately - the argument against "deliverism" which highlights the need for better communications and clarity, if not also better issue selection and other strategic choices.
“Deliverism” is useless if the supposed benefits take too long to manifest. And getting rid of income supports just as inflation hits is sort of the opposite of “deliverism” isn’t it?
This article seems to put a lot of emphasis on the wrong question, and the analysis seems quite flawed. It is misleading to compare the COVID recession to 2001 or 2008. Those previous recessions were driven by totally different factors. In retrospect, COVID may well be best described as a transitory recession (a mile deep but an foot wide). And although one can challenge the exact timing of monetary policy, the true political battle is about the size of the fiscal response. We essentially flushed a huge amount of money into private hands, resulting in some easing of the impacts of the recession (great!) but also a big impact in raising already inflated asset prices and increasing public debt and so making it difficult to finance major public investment needs (not so great). Let's look at the whole picture properly when assessing the pros and cons of the COVID fiscal and monetary response.
With MMT, we can finance the government spending we want with no increase in public debt. So that issue is solvable. As for the "inflated" price of assets, the solution would be to increase the number of assets, making them more common and more widely distributed and more affordable. Increase supply in other words.
A wealth tax wouldn’t hurt either, where asset “inflation” is concerned — not to mention its salutary effects in reducing the danger of plutocracy.
So much easier to frighten ignorant people with torrents of lies than to try to pursue the truth. We have one party that works more or less on public policy and another party that works on gaming the system to win elections and reap the spoils. It's their only path to victory.
Agreed. Though I wonder if we're thinking of the same parties and the same methods.
The Democrats are the pawl in the “Uniparty” ratchet ensuring that policies are always to the net benefit of rentiers.
Maybe American voters cared about the Gaza genocide? Otherwise, why were American authorities so keen to stop protests by activists on campuses?
Excellent. This is really insightful.
Liberals and democrats will learn the lessons that they want to learn and no other.
But Conservatives and Republicans are somehow immune to only learning the lessons they want to learn? I don't think so. I see an awful lot of wishful thinking there also. I would say Trump's entire political career seems to be wishful thinking. Mainly the wishful thought that he is going to "save" America. He will do no such thing. Instead he will deliver America to the Billionaires. Watch and see.
I said not a word in praise of conservatives and republicans, but they were not the subject ot the article.
Okay... I thought I would add Conservatives and Republicans in. Since to leave them out was kinda like giving them a free pass. One I am not inclined to give them.
Larry Summers' influence and ideas are the best example of George DeMartino's concept of Econogenic Harm. There would be no consequences for him when thousands of Americans are thrown out of their jobs and homes due to the jump in unemployment.
Needs a comparison with China to be meaningful, how did the US response to COVID do fiscally when compared to China?
The wingnuts are going to try and create a political and economic version of the Jim Crow south.
Whatever one might say about the US political economy and inflation, the grim truth is the majority of voters who went to the polls, voted for Trump -- after all that's known about him + all he's done. Terrifying.
When your other option is Kamal Harris, this isn't really surprising.
Once the elimination of the dead voters and millions of illegal immigrants are removed from State voting rolls Donald Trump won by a landslide. Blue states protected cheating. Hope for the best. The second move after removing criminal (sic) illegal immigrats, is to go after every business gouging products over 60% since easing restrictions and fully opening businesses after COVID19 subsided miraculously as sleepy joe was inserted as president. Most businesses in NYC have grossly compensated for their losses 📉 by over pricing. Uber and Lyft need to be taken to court for over-taxing it's customers. NYC needs a revamp in every which way specifically in policing. The City has turned in to a haven for crimnals against its citizens. Much of the crimes committed by foreign nationals. Fact. Next, open up the oil pipeline. It's freezing 🥶 in New York City at 28 degrees and we have no heat. Opening up the pipeline will allow businesses to run their establishments warmer (at a lower price), it's a start to bringing about an Optimistic approach to serving my Nation but none of these measures can happen effectively if the support by "we the people" isn't there nor if honesty, isn't there within the federal government. Lastly, nothing good is going to happen if this Nation doesn't turn its face to the Almighty Creator in Repentance and Thanksgiving. Everyday.
You're delusional and should seek help.
You’re insane.
Nice wind up. Now get back to your studies