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The Concert of Interests in the Age of Trump

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  • Jan Kregel

Abstract

If the Trump administration is to fulfill its campaign promises to this age's "forgotten" men and women, Director of Research Jan Kregel argues, it should embrace the broader lesson of the 1930s: that government regulation and fiscal policy are crucial in addressing changes in the economic and financial structure that have exacerbated the problems faced by struggling communities. In this policy note, Kregel explains how overcoming the economic and financial challenges we face today, just as in the 1930s, requires avoiding what Walter Lippmann identified as an "obvious error": the blind belief that reducing regulation and the role of government will somehow restore a laissez-faire market liberalism that never existed and is inappropriate to the changing structure of production of both the US and the global economy.

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  • Jan Kregel, 2017. "The Concert of Interests in the Age of Trump," Economics Policy Note Archive 17-2, Levy Economics Institute.
    • Handle: RePEc:lev:levypn:17-2
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    References listed on IDEAS

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    1. Dimitri B. Papadimitriou & Michalis Nikiforos & Gennaro Zezza, 2016. "Destabilizing an Unstable Economy," Economics Strategic Analysis Archive sa_mar_16, Levy Economics Institute.
    2. Hyman P. Minsky & Dimitri B. Papadimitriou & Ronnie J. Phillips & L. Randall Wray, "undated". "Community Development Banking, A Proposal to Establish a Nationwide System of Community Development Banks," Economics Public Policy Brief Archive 3, Levy Economics Institute.
    3. Jan Kregel, 2016. "What We Could Have Learned from the New Deal in Confronting the Recent Global Recession," Economics Public Policy Brief Archive ppb_141, Levy Economics Institute.
    4. Michalis Nikiforos & Gennaro Zezza, 2017. "The Trump Effect: Is This Time Different?," Economics Strategic Analysis Archive sa_apr_17, Levy Economics Institute.
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