A top economist explains the mess Americans have made
One of the world’s smartest economists, Dean Baker has new book out. It’s called “The End of Loser Liberalism: Making Markets Progressive.” You can read a summary and download the book for free by clicking here.
I have only begun to read it, but this seems to be the main thesis:
The political system and the “free market” are rigged (and increasingly so) to the advantage of the rich and powerful, but progressives continually make the mistake of accepting the right’s spin that this rigging is somehow “natural.”
This is from Baker’s website:
“Progressives need a fundamentally new approach to politics. They have been losing not just because conservatives have so much more money and power, but also because they have accepted the conservatives’ framing of political debates. They have accepted a framing where conservatives want market outcomes whereas liberals want the government to intervene to bring about outcomes that they consider fair.
This is not true. Conservatives rely on the government all the time, most importantly in structuring the market in ways that ensure that income flows upwards. The framing that conservatives like the market while liberals like the government puts liberals in the position of seeming to want to tax the winners to help the losers.
This “loser liberalism” is bad policy and horrible politics. Progressives would be better off fighting battles over the structure of markets so that they don’t redistribute income upward. This book describes some of the key areas where progressives can focus their efforts in restructuring market so that more income flows to the bulk of the working population rather than just a small elite.”
It looks to be a fast and enjoyable read. Enjoy and spread the word.