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Analog to Digital Aliasing's avatar

An excellent sum-up. I referenced it in an FB post today https://www.facebook.com/awuersch/posts/pfbid02XCCqha4hvzFYPx87WEHpWq2RWJmBFhPSH4hxYy9SCC96FEZZtE3CE9xdphHHaAXEl .

The post covers how Fall River, MA (my home city) is a textbook case of post-industrial neglect and abandonment, and how Massachusetts elected a post-industrial populist (Ed King) as governor in 1979 and then had an election in 1990 (John Silber vs Bill Weld) with a post-industrial vs symbolic capitalist total polarization that's a mirror of what happened in this 2024 US election.

The background is that a large part of Massachusetts, called the Rust Belt, de-industrialized in the mid-20th century as its industries moved to the non-union South. Rust Belt residents eventually became half of the Massachusetts total voting population.

A longer general history of the rise and fall of the huge textile industry in Southeastern Mass is here: https://groundwork.space/boom-and-bust/ Brockton, another large city in Mass, was the world center of shoe manufacture, it experienced a similar fate. What to me is notable is the decades still continuing of neglect and abandonment since. The post-industrial Midwest will probably experience the same.

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Jon Saxton's avatar

I have just come across your work and this is the first piece I have read. And I’m very glad I did! Your analysis here is quite compelling, although I need to look further into what you mean by “symbolic capitalists,” and other things.

The explanation for Trump’s success that I have been arguing for in my own Substack traces back to, essentially, what became a bi-partisan Neoliberal economic policy consensus that came together around Reaganomics (Trickle-Down Economics”) and in the repeal of Glass-Steagall, etc., — all dedicated to what Michael Alexander (see his Substack, America in Crisis!) calls “Shareholder Primacy.”

The upshot is that both parties came to “exuberantly” embrace this Neoliberal federal policy around prioritization of the enrichment of a relatively small elite, while both parties were effectively indifferent to the devastating consequences this had and continues to have for our working/middle class. The harms of these changes in economic and tax policy is the root cause of the now enormous rift in our society — a deep and painful wound so serious that even a depraved, demented demagogue like Trump has had little trouble exploiting it — with and for ‘blood and money’ — and cult-like adoration.

Trump somehow got this and came into the 2016 race and effectively built a platform around “a plague on both their houses.” He crushed the Republican Party and rebuilt it in his image. And he has dominated our politics ever since.

There are, of course, cultural issues now deeply intertwined with all of this, but Alexander argues that little will change for the Democrats unless or until they effectively renounce and pivot away from neoliberal policy prioritizing elite enrichment and towards national policy focused and incentivized around what he calls “stakeholder primacy” and that I refer to less precisely as economic policies that prioritize more the “common good.”

Anyhow, nice to virtually meet you and I will now spend some time getting to know you better. Thanks!

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