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Why Mainstream Economists are Responsible for Electing Donald Trump

We also can't ignore the correlation, since the early-1970s, between globalization (measured, in the chart above, by the sum of exports and imports as a percentage of GDP, which is the green line on the right-hand axis) and inequality (measured, in the same chart, by the percentage of income, including capital gains, going to the top 1 percent, on the left-hand axis).
to read David Ruccio's article published in The Real World Economics Review, Nov 2016, click on
 http://evonomics.com/mainstream-economists-responsible-electing-donald-trump/

My argument is that, when mainstream economists in the United States embraced and celebrated neoliberalism—both the conservative and "left" versions—they created the conditions for Trump's victory in the U.S. presidential election. As I see it, mainstream economists adopted neoliberalism as a set of ideas (about self-governing individuals and an economic system that needs to be understood and obeyed) and a political-economic project (on behalf of corporate bosses) and ignored the enormous costs, especially those borne by the majority of workers, their families, and the communities in which they live. And it was precisely the resentments generated by neoliberalism—which were captured, however imperfectly and in a cynical manner, by Trump's campaign (and downplayed by Hillary Clinton's)—that many voters took to the polls one week ago.

homepage: homepage: http://www.freembtranslations.net
address: address: www.therealnews.com


overall realization not news to Portland Indymedia readers — 25.Nov.2016 20:07

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How The Democrats Lost Touch On Trade
Party elites just got blindsided by their own working-class voters. Can they let go of their cherished globalist beliefs?
 http://portland.indymedia.org/en/2016/09/433159.shtml


Millions Of Ordinary Americans Support Donald Trump. Here's Why
by Thomas Frank
 http://portland.indymedia.org/en/2016/03/431843.shtml


The issue is not Hillary Clinton's Wall St links but Democrats' core dogmas
The Democratic party rejected the New Deal and its stress on working-class Americans in favour of a technocratic elite - is it time for a political revolution?
 http://portland.indymedia.org/en/2016/09/433159.shtml#447801


Democrat Party: Alliance of Wealthy Whites + Low Income Ethnic Minorities
 http://portland.indymedia.org/en/2016/09/433219.shtml


TPP and NAFTA: Trump Is Speaking Against, Will Cancel TPP
 http://portland.indymedia.org/en/2016/08/432992.shtml


Robert Kuttner — 'Hard To Believe, But Trump Could Win' and post-Occupy America
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"Identity politics are at odds with class politics."
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 http://portland.indymedia.org/en/2016/09/433181.shtml

as long as the actual class issues — those of blue collar workers across the country currently being championed by the Trump campaign — continue to be divorced / segregated from identity (gender, race etc.) issues, there is zero effective challenge to the 1%.

For example, this is why so many Trump campaign supporters absolutely distrust the Democrats and Clinton:
none of them believe the "party of working people" rhetoric / 'legacy' anymore.... and large quantities of blue collar unions and usually-Democrat voters are going Trump in 2016.


The Death Of Neoliberalism And The Crisis In Western Politics
 http://portland.indymedia.org/en/2016/08/433032.shtml