“supply-side has led to wage stagnation and the current malaise.”
Dead wrong. Over-regulation, over-taxation, and the Invasion of the Border Crashers led to the current depression.
>>Dead wrong. Over-regulation, over-taxation, and the Invasion of the Border Crashers led to the current depression.
Sorry, but you are half-wrong. It is both what you said and what I said. It all goes into the pot to create the mess we are in. You base your version of truth on old economy concepts. You can’t support an economy on stock speculation and welfare...or at least not forever. That model has had a good run for about 20 years, but now the welfare state is fully unsustainable and then you use your old economy concepts to blame problems on over-taxation. How do you expect people to live when their jobs are gone? Not everyone is cut out to be a business owner, you know. Would you just say, “Bah. Throw them out in the cold to starve.”
Globalization is great up to a point. Excessive globalization leads to unemployment. Unemployment leads to welfare increases. Welfare increases lead to over-taxation. Over-taxation leads to more globalization.
See the cycle? How do you break it? You either starve people (by cutting welfare without creating more jobs) so the wealthy can get richer or you bring jobs back and that cuts into profits. Or you cut taxes and balloon the debt to still pay for the welfare until the jobs come back.
But what if the decision makers decide to pocket the profits from the lower taxes and still outsource the work? Will they still complain about the national debt that is lining their own pockets?
I supported Trump because he was a realist about the economy. If he switches to being a supply-sider with no plan for creating jobs other than the false hope that corporate decision makers will suddenly become altruistic, then there’s no point in voting for him or anyone because we’re screwed.
Bump!
De industrialization will cause wages to deflate.