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Books > Social sciences > Politics & government > Political structure & processes > Constitution, government & the state
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Preserving Basic U.S. Industries - The Implications of Trumponomics (Paperback)
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Preserving Basic U.S. Industries - The Implications of Trumponomics (Paperback)
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The commencement of America's Industrial Revolution in the 1870s
set off a "special century" of economic and social progress and
transformation. After World War II, the United States created the
first middle-class society. Beginning in the 1970s, however, a new
transformation began that has produced decidedly mixed results.
Globalisation pushed many important industries off shore; the
emerging information age changed the nature of the U.S. workforce;
and shifting business and government policies put increasing
pressures on employees. The major losers here were the working
class of those who did not possess a college education and people
who live in rural areas. Unfortunately, before 2016 neither major
party had addressed the need for finding "good jobs" for either set
of Americans. Donald Trump ran for President of the United States
in 2016 as a Republican on a platform that included a strong appeal
to the white working class, promising to use the power of
government to overturn the forces of globalisation to bring good
jobs back to the U.S. and restore prosperity to the victims of
globalisation and neoliberalism. Indeed, the term "Trumponomics"
was soon coined to describe his distinctive, if not unique,
economic strategy. Our analysis is rather sceptical about the
potential for helping the American working class preserve a
middle-class life style. Most fundamentally, Trump's strategy of
winning elections and maintaining power emphasises cultural, not
economic, issues. Furthermore, three central components of the
President's economic strategy are problematic as well. First,
Trumponomics ignores several key causes of working-class distress;
second, some of the President's economic policies contradict each
other and/or may well have counterproductive effects; and third,
some are quite controversial and face strong opposition from
Democrats or even from important Republican constituencies. Still,
Donald Trump should be commended for highlighting economic problems
that a considerable number of Americans face; and the opponents of
Trumponomics need to rise to the challenge of meeting this creeping
economic crisis.
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