Elizabeth Warren wants to save capitalism from itself

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the idea that the Rhine Model has something of the radical left about just shows how far the Overton window has been shifted in the last few decades.

In Europe, it’s the pet theory of the dull grey CDU conservatives and industrialists, who like like stability and the status quo.

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UBI isn’t popular with that crowd either. They want an honest paycheck for an honest day’s work, not a handout.

" . . .if the right wing collapses within the next few years . . . "

Given the transfer of power to the right over the last 50+ years–politically and financially–I can’t see the left in the US, even given large voting majorities, taking enough power to do anything like either the Nordic or German state models any time soon.

It’s going to take a generation, or longer, to flip the courts and until then the courts are going to make it hard for the left to change things. I’d guess that voters can vote, oh, 60/40 Dems for the next four election cycles and still be unable to seriously threaten to implement something like the Warren legislation discussed above. The combination of voter suppression, gerrymandering, and a wide range of things that favor the very rich that the GOP has baked into our governance will have to be redone.

It’s possible, of course, that, say, proportional representation, adding D.C. and PR as states, and expanding the courts might speed up making it possible to do the right things but, whew, the right has extensive infrastructure, massive funding, and nearly all of he power of the state and those things are going to continue to challenge the left, even if the left wins 60/40 at the ballot box, for some time. It’s going to take multiple generations of 60/40 voting, in the face of quite a bit of opposition for the left to win.

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I don’t see anything here about breaking up monopolies and encouraging competition.

In fact, this might put the government on the side of megacorps as opposed to new business models and small businesses because the former are required to pursue favored social goals and the latter are not.

There is a word for what you get when you have large consolidations of capitalist enterprises which are under a good deal of state supervision and management, but somehow it slips my mind.

Bud, just google Elizabeth Warren + Too Big to Fail. She wrote the book on it. Not every bill can be titled “everything we’re going to do about everything to fix everything.” Also, levying this specifically on huge firms implies the message “get responsible or get smaller” given that choice, and their allergy to social responsibility, you know a whole heck of a lot will choose to get smaller.

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It is hard to overstate how much I’d rather be living in a country/world where that was the political debate I got to have.

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A lot of older men who lose manufacturing jobs because of downsizing or moving offshore, end up permanently out of work, and a large portion (I believe 25%) end up on disability. (For instance when a paper mill shut down in Aberdeen, in Washington state many of the former workers were encouraged to try and collect disability benefits. The problem with being on disability is that there is a disincentive to take on any other work which may only be temporary for fear losing those benefits which are a sure thing.

At the same time, Alaska a deeply red state has had the oil dividend for decades brought in by a conservative Governor. It is about $2000 per year per person and up to $8000 for a family. You don’t see anyone there wanting to give that up.

The fact is that automation is going to kill a lot more jobs in the coming years, so promising jobs may not really be possible. Sure you could have full employment, but I grew up in communist country where everyone had a job. If you didn’t have one it was provided for you, (you didn’t necessarily have to work) but had to go through the motions. You also didn’t see any homeless or street people the police would pick you up. Yes there are jobs that could be funded such as child care, elder care, or something like the tree planting that was brought in during the depression to deal with the degradation of the dust bowl. But state planning in the long run is inefficient.

So if the aim is to just provide pointless jobs, it is better if people just receive the funds without strings attached so they could either improve their education, or save money to move to a better location where there is work. It should be combined with a decent minimum wage so it’s not just a subsidy to employers.

As far as handouts go, there have always been handouts - think about all the property that was given away to the railways in the 19th century. Or for that matter the benefits that private companies such as Apple get from publicly funded research - say the half dozen technologies in the smart phone, internet, computers, gps, satellite tech, touchscreen, even siri) etc

So while the something for nothing argument is often brought out, then one should consider inheritance which is also something for nothing - but then of course the wealthy never take it that far.

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Everyone/anyone please post if you read reactions by PROGRESSIVE ECONOMISTS to our Elizabeth’s proposed Bill. I think it’s URGENT that a fully vetted corporate governance/progressive tax reform plank be added to Medicare for All, $15 minimum wage, free college and loan forgiveness.
Yes, automation is now and in the global future the primary job destroyer, but we have AT LEAST a generation of full employment in climate change mitigation and adaptation, quality early childcare and preschool, rebuilding infrastructure for sustainability…and ALL our unmet social needs. Our COMMON PLATFORM has to grapple with how to pay for it

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