THE NEW ECONOMIC POPULISM

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The New Economic Populism

Author : William Franko
ISBN : 9780190671013
Genre : Political Science
File Size : 36.88 MB
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Donald Trump's 2016 victory shocked the world, but his appeals to the economic discontent of the white working class should not be so surprising, as stagnant wages for the many have been matched with skyrocketing incomes for the few. Though Trump received high levels of support from the white working class, once in office, the newly elected billionaire president appointed a cabinet with a net worth greater than one-third of American households combined. Furthermore, he pursued traditionally conservative tax, welfare state and regulatory policies, which are likely to make economic disparities worse. Nevertheless, income inequality has grown over the last few decades almost regardless of who is elected to the presidency and congress. There is a growing consensus among scholars that one of the biggest drivers of income inequality in the United States is government activity (or inactivity). Just as the New Deal and Great Society programs played a key role in leveling income distribution from the 1930s through the 1970s, federal policy since then has contributed to expanding inequality. Growing inequality bolsters the resources of the wealthy leading to greater influence over policy, and it contributes to partisan polarization. Both prevent the passage of policy to address inequality, creating a continuous feedback loop of growing inequality. The authors of this book argue that it is therefore misguided to look to the federal government, as citizens have tended to do since the New Deal, to lead on economic policy to "fix" inequality. In fact, they argue that throughout American history, during periods of rapid economic change the federal government has been stymied by the federal institutional design created by the Constitution. The winners of economic change have taken advantage of veto points to prevent change that would address the problems experienced by the losers of major economic change. Even the New Deal, in many ways the model of federal policy activism, was largely borrowed from policies created in the state "laboratories of democracy" in the preceding years and decades. The authors argue that in the current crisis of growing inequality we are seeing a similar dynamic and demonstrate that many states are actively addressing economic inequality. William Franko and Christopher Witko argue that the states that will address inequality are not necessarily those with the greatest objective inequality, but those where citizens are aware of growing inequality, where left-leaning politicians hold power, where unions are strong, and where the presence of direct democracy allow for more majoritarian public policy outcomes. In the empirical chapters Franko and Witko examine how these factors have shaped policies that boosted incomes at the bottom (the minimum wage and the Earned Income Tax Credit) and reduce incomes at the top (with top marginal tax rates) between 1987 and 2010. The authors argue that, if history is a guide, increasingly egalitarian policies at the state level will spread to other states and, eventually, to the federal level, setting the stage for a more equitable future.
Category: Political Science

Democracy Against Domination

Author : K. Sabeel Rahman
ISBN : 9780190468538
Genre :
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In 2008, the collapse of the US financial system plunged the economy into the worst economic downturn since the Great Depression. In its aftermath, the financial crisis pushed to the forefront fundamental moral and institutional questions about how we govern the modern economy. What are the values that economic policy ought to prioritize? What institutions do we trust to govern complex economic dynamics? Much of popular and academic debate revolves around two competing approaches to these fundamental questions: laissez-faire defenses of self-correcting and welfare-enhancing markets on the one hand, and managerialist turns to the role of insulated, expert regulation in mitigating risks and promoting growth on the other. In Democracy Against Domination, K. Sabeel Rahman offers an alternative vision for how we should govern the modern economy in a democratic society. Drawing on a rich tradition of economic reform rooted in the thought and reform politics of early twentieth century progressives like John Dewey and Louis Brandeis, Rahman argues that the fundamental moral challenge of economic governance today is two-fold: first, to counteract the threats of economic domination whether in the form of corporate power or inequitable markets; and second, to do so by expanding the capacity of citizens themselves to exercise real political power in economic policymaking. This normative framework in turn suggests a very different way of understanding and addressing major economic governance issues of the post-crisis era, from the challenge of too-big-to-fail financial firms, to the dangers of regulatory capture and regulatory reform. Synthesizing a range of insights from history to political theory to public policy, Democracy Against Domination offers an exciting reinterpretation of progressive economic thought; a fresh normative approach to democratic theory; and an urgent hope for realizing a more equitable and democratically accountable economy through practical reforms in our policies and regulatory institutions.
Category:

The Macroeconomics Of Populism In Latin America

Author : Rudiger Dornbusch
ISBN : 0226158489
Genre : Business & Economics
File Size : 68.13 MB
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Again and again, Latin America has seen the populist scenario played to an unfortunate end. Upon gaining power, populist governments attempt to revive the economy through massive spending. After an initial recovery, inflation reemerges and the government responds with wage an price controls. Shortages, overvaluation, burgeoning deficits, and capital flight soon precipitate economic crisis, with a subsequent collapse of the populist regime. The lessons of this experience are especially valuable for countries in Eastern Europe, as they face major political and economic decisions. Economists and political scientists from the United States and Latin America detail in this volume how and why such programs go wrong and what leads policymakers to repeatedly adopt these policies despite a history of failure. Authors examine this pattern in Argentina, Brazil, Chile, Mexico, Nicaragua, and Peru—and show how Colombia managed to avoid it. Despite differences in how each country implemented its policies, the macroeconomic consequences were remarkably similar. Scholars of Latin America will find this work a valuable resource, offering a distinctive macroeconomic perspective on the continuing controversy over the dynamics of populism.
Category: Business & Economics

Populism And Economics

Author : Charles Dumas
ISBN : 9781788162265
Genre : Business & Economics
File Size : 53.14 MB
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Populism and Economics, Charles Dumas' latest book, examines the reasons for the rise in populism - Brexit and the election of Trump among other events - and how this discontent with the status quo has affected economics, both perceptions and reality. The book argues that while globalization and the influence of new technology have pulled the world economy out of recession and while the benefits of world trade are now spread more widely, there is a perception of injustice because of inequality within individual nations. In a detailed region-by-region analysis of the current state of the world economy and using exclusive research carried out by TS Lombard, Dumas shows how the perception of inequality now threatens to destabilize not only politics but also the economic order itself.
Category: Business & Economics

Fixing The System

Author : Adrian Kuzminski
ISBN : 9781441166654
Genre : Political Science
File Size : 82.10 MB
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In the current climate of dissatisfaction with "democratic" Western political and economic systems, this is a timely book that demonstrates a true political Third Way. Populism is distinguished from other political movements by its insistence on two things conspicuously missing from modern systems of political economy: genuine democracy based on local citizen assemblies, and the widespread distribution among the population of privately-owned economic capital. Fixing the System offers a comprehensive historical account of populism, revealing the consistent and distinct history of populism since ancient times. Adrian Kuzminski demonstrates that populism is a tradition of practice as well as thought, ranging from ancient city states to the frontier communities of colonial america-all places where widely distributed private property and democratic decision-making combined to foster material prosperity and cultural innovation. In calling for a wide distribution of both property and democracy, populism opposes the political and economic system found today in the united states and other Western countries, where property remains highly concentrated in private hands and where representatives chosen in impersonal mass elections frustrate democracy by serving private monied interests rather than the public good. As Kuzminski demonstrates, as one of very few systematic alternatives to today's political and economic system, populism, offers a pragmatic program for fundamental social change that deserves wide and serious consideration. Populism is a genuine "third way" in politics, a middle path between the extremes of corporate anarchy and collective authoritarianism. As America takes stock of her current situation and looks toward the future in the 2008 election year, Fixing the System offers a trenchant and timely study of this deep-rooted movement.
Category: Political Science

One Market Under God

Author : Thomas Frank
ISBN : 9780307434494
Genre : Political Science
File Size : 27.85 MB
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In a book that has been raising hackles far and wide, the social critic Thomas Frank skewers one of the most sacred cows of the go-go '90s: the idea that the new free-market economy is good for everyone. Frank's target is "market populism"--the widely held belief that markets are a more democratic form of organization than democratically elected governments. Refuting the idea that billionaire CEOs are looking out for the interests of the little guy, he argues that "the great euphoria of the late nineties was never as much about the return of good times as it was the giddy triumph of one America over another." Frank is a latter-day Mencken, as readers of his journal The Baffler and his book The Conquest of Cool know. With incisive analysis, passionate advocacy, and razor-sharp wit, he asks where we?re headed-and whether we're going to like it when we get there. From the Trade Paperback edition.
Category: Political Science

Left Behind

Author : Sebastian Edwards
ISBN : 9780226184807
Genre : Business & Economics
File Size : 33.22 MB
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The political and economic history of Latin America has been marked by great hopes and even greater disappointments. Despite abundant resources—and a history of productivity and wealth—in recent decades the region has fallen further and further behind developed nations, surpassed even by other developing economies in Southeast Asia and elsewhere. In Left Behind, Sebastian Edwards explains why the nations of Latin America have failed to share in the fruits of globalization and forcefully highlights the dangers of the recent turn to economic populism in the region. He begins by detailing the many ways Latin American governments have stifled economic development over the years through excessive regulation, currency manipulation, and thoroughgoing corruption. He then turns to the neoliberal reforms of the early 1990s, which called for the elimination of deficits, lowering of trade barriers, and privatization of inefficient public enterprises—and which, Edwards argues, held the promise of freeing Latin America from the burdens of the past. Flawed implementation, however, meant the promised gains of globalization were never felt by the mass of citizens, and growing frustration with stalled progress has led to a resurgence of populism throughout the region, exemplified by the economic policies of Venezuela’sHugo Chávez. But such measures, Edwards warns, are a recipe for disaster; instead, he argues, the way forward for Latin America lies in further market reforms, more honestly pursued and fairly implemented. As an example of the promise of that approach, Edwards points to Latin America's giant, Brazil, which under the successful administration of President Luis Inácio da Silva (Lula) has finally begun to show signs of reaching its true economic potential. As the global financial crisis has reminded us, the risks posed by failing economies extend far beyond their national borders. Putting Latin America back on a path toward sustained growth is crucial not just for the region but for the world, and Left Behind offers a clear, concise blueprint for the way forward.
Category: Business & Economics

The Populist Temptation

Author : Barry Eichengreen
ISBN : 9780190866280
Genre : POLITICAL SCIENCE
File Size : 57.27 MB
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"Populism, a political movement with anti-elite, authoritarian and nativist tendencies, typically spearheaded by a charismatic leader, is an old phenomenon but also a very new and disturbing one at that. The Populist Temptation is an effort to understand the wellsprings of populist movements and why the threat they pose to mainstream political parties and pluralistic democracy has been more successfully contained in some cases than others"--
Category: POLITICAL SCIENCE

The New Localism

Author : Bruce Katz
ISBN : 9780815731658
Genre : Social Science
File Size : 31.57 MB
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The New Localism provides a roadmap for change that starts in the communities where most people live and work. In their new book, The New Localism, urban experts Bruce Katz and Jeremy Nowak reveal where the real power to create change lies and how it can be used to address our most serious social, economic, and environmental challenges. Power is shifting in the world: downward from national governments and states to cities and metropolitan communities; horizontally from the public sector to networks of public, private and civic actors; and globally along circuits of capital, trade, and innovation. This new locus of power—this new localism—is emerging by necessity to solve the grand challenges characteristic of modern societies: economic competitiveness, social inclusion and opportunity; a renewed public life; the challenge of diversity; and the imperative of environmental sustainability. Where rising populism on the right and the left exploits the grievances of those left behind in the global economy, new localism has developed as a mechanism to address them head on. New localism is not a replacement for the vital roles federal governments play; it is the ideal complement to an effective federal government, and, currently, an urgently needed remedy for national dysfunction. In The New Localism, Katz and Nowak tell the stories of the cities that are on the vanguard of problem solving. Pittsburgh is catalyzing inclusive growth by inventing and deploying new industries and technologies. Indianapolis is governing its city and metropolis through a network of public, private and civic leaders. Copenhagen is using publicly owned assets like their waterfront to spur large scale redevelopment and finance infrastructure from land sales. Out of these stories emerge new norms of growth, governance, and finance and a path toward a more prosperous, sustainable, and inclusive society. Katz and Nowak imagine a world in which urban institutions finance the future through smart investments in innovation, infrastructure and children and urban intermediaries take solutions created in one city and adapt and tailor them to other cities with speed and precision. As Katz and Nowak show us in The New Localism, “Power now belongs to the problem solvers.”
Category: Social Science

Populism In The South Revisited

Author : James M. Beeby
ISBN : 9781617032332
Genre : History
File Size : 73.33 MB
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The Populist Movement was the largest mass movement for political and economic change in the history of the American South until the Civil Rights Movement of the 1950s and 1960s. The Populist Movement in this book is defined as the Farmers’ Alliance and the People’s Party, as well as the Agricultural Wheel and Knights of Labor in the 1880s and 1890s. The Populists threatened the political hegemony of the white racist southern Democratic Party during populism’s high point in the mid-1890s; and the populists threw the New South into a state of turmoil. Populism in the South Revisited: New Interpretations and New Departures brings together nine of the best new works on the populist movement in the South that grapple with several larger themes—such as the nature of political insurgency, the relationship between African Americans and whites, electoral reform, new economic policies and producerism, and the relationship between rural and urban areas—in case studies that center on several states and at the local level. Each essay offers both new research and new interpretations into the causes, course, and consequences of the populist insurgency. One essay analyzes how notions of debt informed the Populist insurgency in North Carolina, the one state where the Populists achieved statewide power, while another analyzes the Populists’ failed attempts in Grant Parish, Louisiana, to align with African Americans and Republicans to topple the incumbent Democrats. Other topics covered include populist grassroots organizing with African Americans to stop disfranchisement in North Carolina; the Knights of Labor and the relationship with populism in Georgia; organizing urban populism in Dallas, Texas; Tom Watson’s relationship with Midwest Populism; the centrality of African Americans in populism, a comparative analysis of Populism across the Deep South, and how the rhetoric and ideology of populism impacted socialism and the Garvey movement in the early twentieth century. Together these studies offer new insights into the nature of southern populism and the legacy of the Peoples’ Party in the South.
Category: History