economics

economics


Conservative Truth-Teller, Bruce Bartlett

conservative truth-teller July 12th, 2021

Bruce Bartlett is a most interesting man. He is a self-described conservative, but he claims to be a more traditional, principled conservative than the modern crop of neocons, Tea Partiers, and, as I would characterize them, gross hypocrites. He was a leading advocate and theorist about supply-side economics, also called “trickle-down economics.” However, he has since come to realize that the reasonableness of tax-cutting for the top tax brackets to stimulate growth has been misapplied, abused, and inappropriately resurrected by the likes of Bush, Trump, and so on. I aim to share a bit more about Bruce Bartlett, who I am calling a conservative truth-teller, due to his willingness to call spades spades and admit how far afield the GOP has gone since the days of Reagan. I think Reagan made many missteps and was not a particularly wise leader, but at least Bruce and I could agree on much!

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Economic Inequality and Political Polarization

inequality May 23rd, 2021

The following is a brief piece written by New York Times columnist, David Leonhardt. In it, he asks the question, Race, class or both? He is referring to whether the 2016 election was in large part won by Donald Trump due to Americans’ racism (the white people, that is) or economic insecurity/economic inequality. It is an interesting summary, and it is recommended that the interested reader follow the links herein to the New York Times to read more. I also include a dozen interesting quotes about economics, capitalism, economic justice, and income inequality by scholar and author Steven Pearlstein.

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Economic Justice Has Gotten Worse Since COVID-19

economic justice March 9th, 2021

Is the American “capitalistic” system fair and functioning well? What makes a society good and economically just? Does America show satisfactory respect for the dignity of its citizens based on the economic system is created? Have things gotten worse since the COVID-19 pandemic? Whether wealth and income inequality are fair and morally justifiable hinges on what one believes about the nature of the socio-economic system in question. The 18th century theorists of great renown, Jean-Jacques Rousseau and Adam Smith both have opinions relevant American-style capitalism, economic justice, and rights/fairness. In the end, I do not believe either would see a justification for the “capitalistic” system America has created.

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A Millennial’s Political View of America

political February 24th, 2020

Millennial’s typically don’t have much political power. Whether this is because the “old guard” of mostly “baby boomers” is slow to relinquish control, or “Gen X’ers” are ahead of Millennials in the slow-to-change power structure is not clear to me. It’s becoming increasingly clear, though, that the old needs to make way for the new. I know, it causes the grey-haired, well-heeled set heartburn to think of letting a new generation of Americans take a shot at holding political power, but let’s face it: we’re not in a great position in 2020. Some would say we are looking at the mid- to final-stages of a long, grueling decline from cultural and ideological dominance of the world. From China to climate change to big money granting political power, the future is not necessarily going to be brighter than our past. And this might be the first time since maybe 1929-1945 that Americans have felt this way. Certainly, we have come a long way from union jobs, putting a man on the moon, virtually inventing the Internet, and little national debt! What follows is a personal political philosophy I think is characteristic of Millennials, those who were born in approximately 1990 to 2000. Think of it as a possible answer if I were to have asked a 25-year-old what they think of the United States, “socialism”, why they like Bernie Sanders more often than not, and where they see us going in the short term: 

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Critiques of Capitalism (Part 1)

critiques of capitalism January 30th, 2020

This blog is based on a paper entitled: Critiques of Capitalism. It is one of five parts in a series that takes a long, hard look at the economic system we have in modern America. Whether it goes by the descriptor free-market capitalism, laissez-faire capitalism, neoliberalism, classical liberalism, libertarian economic philosophy,  or its illegitimate children – crony capitalism, supply-side economics, or trickle-down economics – the economic theory that America is based on has a long, significant, storied past. Here is the introduction to the paper, Critiques of Capitalism:

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Are Human Beings Selfish?

are human beings selfish? October 23rd, 2019

I thought about the question, Are human beings selfish?, when I received this snippet of an article from a friend: “Advocates of capitalism understand, as the classical economists understood centuries ago, that government and social institutions must be designed for the human beings that actually exist — callous self-interest and all.” That thought, from The Mises Institute, a capitalistic/libertarian think tank, is making a fair point that can be examined to see how fully and completely true it is. That is what I will do in this blog. As a sneak peek, my answer to the question, Are human beings selfish? will be “Yes, to some degree, but not to the exclusion of all other high values.”

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Progressive Politics: Government Reform and Rehabilitation

progressive politics June 29th, 2019

This blog is a defense of progressive politics. A writer named William L. Anderson criticizes progressives as bad governors in a piece, “Why Progressives Are So Bad at Governing.” The noted economist and author Paul Krugman leads off my rebuttal, saying, essentially, that conservatives are not that great with governance, either. Indeed, ever since the ancient Greeks, people have been considering at least three main issues: the problem of knowledge, the problem of conduct, and the problem of governance. If Americans aren’t getting it right, it says much about our political system, but it also speaks to fundamental challenges and liabilities inherent in the human species as they try to organize and get along. I make some points and then share some quotations about progressive politics to bolster my position.

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Quotes About Fiscal Responsibility and Integrity

fiscal responsibility August 31st, 2018

I am going to attempt to demonstrate in this blog that Republicans have not been, at least in my lifetime, the Party of fiscal responsibility. This has a substantial affect on our finances and our lives. To some degree, Dems in Congress have in times-past been kinda spendy and porky. But it seems inarguable to me that Republicans in Congress and in the White House do not have fiscal integrity (or the peoples’ best interests at heart). In general, Republican politicians talk a good game, but when it comes to fiscal responsibility and integrity, they tend to cut taxes and increase spending. It has resulted in over $21,000,000,000,000 of debt. Red state Trump backers need to know that the GOP is not the party of the working class and that it cannot go on unchecked. 

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A Case for Socialism in Modern America

socialism August 9th, 2018

There are few topics in the United States that get beat down like a hammer pounding a nail into a board than socialism. It’s as if the very word is a curse or slander of something dear to you. One hears: “Socialism in the US, I’d rather DIE first!”; “You’re a Socialist?? then go live somewhere where you’re wanted!”; “Creeping Socialism is like weeds in a garden; once it gets started, it spreads everywhere!” In this guest blog, economist and author Carl Conrad opines on what socialism is, what it isn’t, and why it is a necessary and useful bulwark against runaway capitalism.

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Philosophical Fundamentals: Marxism

Marxism July 24th, 2018

Marxism is a philosophical, political and social movement derived from the work of Karl Marx and Friedrich Engels (1829 – 1895) in the second half of the 19th Century. It is a theoretical-practical framework based on the analysis of “the conflicts between the powerful and the subjugated” with working-class self-emancipation as its goal. It promotes a pure form of Socialism and provides the intellectual base for various subsequent forms of Communism. According

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