Excellent summation and analysis of what has led to the current state of affairs. One minor quibble..."The New Deal saved capitalism, and the capitalists never forgave FDR for doing so." Yes, he saved capitalism; but only by instituting the socialist programs of the New Deal. And it is those programs, programs to help the working class, that the Oligarchs hate. The reason they imagine that 'taxes are theft' is because some of their taxes promote the commonweal. Which for them is anathema. And which is why they have attempted to go after SS/Medicare, etc. and even PBS for decades.
The problem, as you correctly point out, is the the Dems are supine, rudderless, and without a plan. For some unfathomable reason they stick to the failed Clinton era neo-liberalism that is responsible for the shift from a manufacturing to a service economy. My guess is that it is because they are really old-school conservative Republicans who do not want to rock a sinking boat. The GQP is off the rails into a neo-fascist dictatorial Oligarchy while the Dems are content to wait for the mid-terms.
Thanks Lucius! Yea, labels get murky when you start introducing socialistic programs into capitalism. I don't doubt some of the programs were socialist, but rather their intent was to preserve the heart of capitalism — the private ownership of capital.
Excellent piece. I believe there’s still a lot of magical thinking going on on the nominal left in reaction to these changes. I don’t think people are truly reckoning with what it’s going to take to fix this quagmire.
Thanks! It's undoubtedly going to take something never done in American history. That said, I'm hesitant to say the current systems can do that, as it's outside their notion of "respectability."
Good analysis. Even with a strong, progressive movement, nothing much will happen until rulings such as Citizens United are reversed and private money is removed from politics. I just turned 74 and want to remain optimistic but I doubt that the existing Democratic Party is capable of slowing or stopping the billionaire-fueled GOP juggernaut. I pray that I am wrong.
Hey Joe, love the content, did you ever put your series of articles on economic democracy into a pdf that we could download or at least just view all of them all together.
Hey Anthony! Thanks for saying that. I incorporated them into a book I'm trying to sell. If you know any agents or publishers looking for left wing economic ideas, send them my way!
Thank you, Joe. This gave me a lot to think about this morning.
I’m Venezuelan and grew up under “Socialism of the 21st Century” led by Hugo Chávez. Unfortunately, I witnessed firsthand how corruption and mismanagement became direct consequences of increased government control over the economy, what was labeled as “socialism.” Because of that, socialism gives me pause (which I'm in the process of unlearning). I can’t simply reduce Venezuela’s collapse to socialism alone. The reality is that government officials looted the country’s resources, driving us into economic ruin (one of the many reasons it all went down hill). but that makes me wonder—how do you control a variable like that? Perhaps there's more I need to educate on but just speaking out loud. Thank you for the read.
Of course! I'm glad you liked it, and thanks for sharing your experience. I'd love to hear more. As an American, it's tough to take Venezuela and Cuba as examples of socialism failing simply because my government strangles them with wartime sanctions. Any system is bound to fail when being cut off from the global economy, likely leading to undesirable domestic outcomes. Just my take.
I totally get where you’re coming from, but Venezuela’s collapse started long before U.S. sanctions. Inflation, shortages, and economic instability were already happening by 2011-2014, and oil sanctions (the one that would truly affect the economy because we unfortunately had most of our eggs in one basket) didn’t come until 2019. I think mismanagement and corruption played a much bigger role in the country’s downfall than sanctions did. Many of us welcomed the sanctions at the time as we believed this would force the govt's hand, but alas it didn't. I look forward to reading your future pieces, Joe! Thank you.
The bread line photo was taken here in Louisville. We never learn.
No way! I didn't know that. It's seared in my memory, for obvious reasons.
Also if you look at the article the 1997 flood caused $200,000,000 in damage NOT $200 lmao
It was taken by Margaret Bourke-White of Life magazine in 1937 after the Ohio River flooded.
https://www.life.com/history/the-flood-that-devastated-louisville/
Excellent summation and analysis of what has led to the current state of affairs. One minor quibble..."The New Deal saved capitalism, and the capitalists never forgave FDR for doing so." Yes, he saved capitalism; but only by instituting the socialist programs of the New Deal. And it is those programs, programs to help the working class, that the Oligarchs hate. The reason they imagine that 'taxes are theft' is because some of their taxes promote the commonweal. Which for them is anathema. And which is why they have attempted to go after SS/Medicare, etc. and even PBS for decades.
The problem, as you correctly point out, is the the Dems are supine, rudderless, and without a plan. For some unfathomable reason they stick to the failed Clinton era neo-liberalism that is responsible for the shift from a manufacturing to a service economy. My guess is that it is because they are really old-school conservative Republicans who do not want to rock a sinking boat. The GQP is off the rails into a neo-fascist dictatorial Oligarchy while the Dems are content to wait for the mid-terms.
Thanks Lucius! Yea, labels get murky when you start introducing socialistic programs into capitalism. I don't doubt some of the programs were socialist, but rather their intent was to preserve the heart of capitalism — the private ownership of capital.
Excellent piece. I believe there’s still a lot of magical thinking going on on the nominal left in reaction to these changes. I don’t think people are truly reckoning with what it’s going to take to fix this quagmire.
Thanks! It's undoubtedly going to take something never done in American history. That said, I'm hesitant to say the current systems can do that, as it's outside their notion of "respectability."
Good analysis. Even with a strong, progressive movement, nothing much will happen until rulings such as Citizens United are reversed and private money is removed from politics. I just turned 74 and want to remain optimistic but I doubt that the existing Democratic Party is capable of slowing or stopping the billionaire-fueled GOP juggernaut. I pray that I am wrong.
That's a great example. CU was one of the worst things to happen to modern America.
Hey Joe, love the content, did you ever put your series of articles on economic democracy into a pdf that we could download or at least just view all of them all together.
Hey Anthony! Thanks for saying that. I incorporated them into a book I'm trying to sell. If you know any agents or publishers looking for left wing economic ideas, send them my way!
Thank you, Joe. This gave me a lot to think about this morning.
I’m Venezuelan and grew up under “Socialism of the 21st Century” led by Hugo Chávez. Unfortunately, I witnessed firsthand how corruption and mismanagement became direct consequences of increased government control over the economy, what was labeled as “socialism.” Because of that, socialism gives me pause (which I'm in the process of unlearning). I can’t simply reduce Venezuela’s collapse to socialism alone. The reality is that government officials looted the country’s resources, driving us into economic ruin (one of the many reasons it all went down hill). but that makes me wonder—how do you control a variable like that? Perhaps there's more I need to educate on but just speaking out loud. Thank you for the read.
Of course! I'm glad you liked it, and thanks for sharing your experience. I'd love to hear more. As an American, it's tough to take Venezuela and Cuba as examples of socialism failing simply because my government strangles them with wartime sanctions. Any system is bound to fail when being cut off from the global economy, likely leading to undesirable domestic outcomes. Just my take.
I totally get where you’re coming from, but Venezuela’s collapse started long before U.S. sanctions. Inflation, shortages, and economic instability were already happening by 2011-2014, and oil sanctions (the one that would truly affect the economy because we unfortunately had most of our eggs in one basket) didn’t come until 2019. I think mismanagement and corruption played a much bigger role in the country’s downfall than sanctions did. Many of us welcomed the sanctions at the time as we believed this would force the govt's hand, but alas it didn't. I look forward to reading your future pieces, Joe! Thank you.
Thanks for your support! I look forward to interacting with you more in the future.
Thank you, Joe!
Thank YOU for reading!