Tag Archives: Richard Wolff

Richard Wolff – The Political Economy of Obama/Trump

Link to an article by Richard Wolff:

“The Political Economy of Obama/Trump”

 

(One small caveat about this article.  This statement is misleading: “Strictly trickle-down economics was how his administration ‘handled’ the 2008-09 crisis. Nothing remotely like the New Deal’s taxing the rich to fund programs for the poor and middle was proposed or debated, let alone adopted as policy.” At the federal level, there is no need to tax the rich to pay for programs for the poor, because the USA is no longer on the gold standard as it was during the New Deal.  Today, money can simply be printed to fund these programs, within reasonable limits.  This is explained in detail by Modern Monetary Theory publications.).