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Being a non-economist, when economics is puzzled I look to my default explanatory tool: Cynicism. If US productivity is stagnant it must be because plutocrats see no profit in raising it. Hypothesis: in the global economy the Plutocracy is happy to focus their attention on developing countries where huge windfalls are possible, and concomitantly happy to let the US slide to 3rd world status. In fact health care outcomes have been slipping thither for decades, and we now have our first 100% 3rd-world-grade president.
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"Individuals in love with an idea or an innovation or who just want to solve a problem are very common, but they are also nigh-certainly not the people who keep the money." See Farnsworth, Philo.
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Re: 9, People are easily confused, and insisting "slavery was morally and economically bad" can easily be mistaken for "slavery was morally because economically bad." Moreover slavery was clearly economically advantageous for the slaveowners, so this does seem to be case of Plutocracy over morality.
Toggle Commented Jun 20, 2018 on Some MOAR Links at Brad DeLong's Grasping Reality
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The trouble is that Trump's real objectives are (near-term) avoid impeachment and (long-term) become dictator-for-life; and his only real friends are his immediate family, with everyone else regarded as enemies. So I'm afraid his strategy is working pretty well.
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"But historically the Republican Party has not been an organization with a fixed identity. " Yes but one constant since the mid 19th century has been plutophilism. Remember that even Lincoln was a rich railroad lawyer. Abolitionism was more a tactical wedge issue dividing Northern and Southern Dems than a principled stand (excepting Lincoln, who had real principles, see 2nd inaugural address). Kabaservice needs to provide a plausible path to separating the GOP from the Plutocracy. Like Scrooge, I don't see it, especially considering the strides in mind control tech that seem to make it possible for people to vote against their own interests for the foreseeable future.
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Clearly Trump's lawyer filled out his ballot.
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Anyone here agree with Donato Masciandaro that the recession ended in June 2009? Perhaps the inertia lies elsewhere?
Toggle Commented Jan 2, 2017 on Links for 01-02-17 at Economist's View
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Maybe a misdiagnosis. People aren't so much voting _for_ snake oil as _against_ the status quo.
Toggle Commented Nov 24, 2016 on Populists as Snake Oil Sellers at Economist's View
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Nov 24, 2016