Visitors Now:
Total Visits:
Total Stories:
Profile image
By Cafe Hayek (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

My Two Cents

Wednesday, November 9, 2016 12:49
% of readers think this story is Fact. Add your two cents.

(Before It's News)

(Don Boudreaux)

Tweet

For the next few weeks pundits will serve up all manner of explanations for why Donald Trump won the 2016 U.S. presidential campaign.  Some of these explanations will be plausible; others will be implausible.  Here I point to a phenomenon that, I believe, plausibly is part of the explanation – namely, the long-running but mistaken narrative that ordinary Americans have stagnated economically since the 1970s.

This mistaken narrative is told by intellectuals on the left and on the right, but intellectuals on the left, it seems, tell it more frequently and with more gusto and conviction than do intellectuals on the right.  Paul Krugman tells it.  Robert Reich tells it.  David Cay Johnston tells it.  The folks at the Economic Policy Institute tell it.

Yet though told time and time again, it is a tale that is untrue.  See, for example, many of the links available here.

But because this tale of middle-class stagnation is repeatedly told – and told as if it is a fact established beyond any reasonable doubt – perhaps ordinary Americans believe it.  And perhaps this belief, although unfounded, helped to make the ears upon which fell Donald Trump’s harangues, hollers, and howls more receptive to what is rather generously called Trump’s “message.”

“Progressives” have for nearly two decades now insisted upon looking at the data through lenses that practically guaranteed that they would find what they sought – namely, evidence of economic ills visited upon ordinary Americans by all the (real and imagined) deregulation, tax cuts, roll back of government, expanding global trade, and continuing decline in labor-unionism that marked the period roughly from 1978 through at least 2001.  Part of the blame for Donald Trump’s victory likely falls on “Progressives’” finding such ‘evidence’ and then trumpeting its alleged reality.  Much of Trump’s message, after all, is premised on the myth of middle-class stagnation being true.

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.