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Inequality, USUnited States Survey Results and Economic Analysis: The Case for Structural TrumpismTrumpism

In: The Global Trump

Author

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  • Paul J. J. Welfens

    (University of Wuppertal)

Abstract

This chapter combines new insights from economic globalization and digitalization analysis with inequality statistics and new US survey results which show the main concerns of US households and voters, respectively. While rising economic inequality is considered to be a problem in the US survey, the relative majority of respondents express the expectation that large companies will take action to correct excessive inequality—a view that is wishful thinking and which is bound to result in sustained voter frustration for the lower half of the US income pyramid. This implies a structural populism problem in the US, which is a totally new situation: with challenges for the North America, Europe, Asia and the world. This new structural US populism hypothesis is linked to deep implications for trade policy and anti-multilateralism. Meanwhile, the Council of Economic Advisers’ 2018 study comparing per capita consumption in the US and Nordic European countries is also refuted.

Suggested Citation

  • Paul J. J. Welfens, 2019. "Inequality, USUnited States Survey Results and Economic Analysis: The Case for Structural TrumpismTrumpism," Springer Books, in: The Global Trump, chapter 2, pages 19-100, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-21784-6_2
    DOI: 10.1007/978-3-030-21784-6_2
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