The End of Growth In , economist Robert Gordon proposed a radical rethinking of economic history: The rapid rise in standard of living between and may have been a historical anomaly, unprecedented and unlikely to ever be repeated. By Hanna Rosin. My argument was true enough, that the recession had destroyed a certain model of manhood, made it obvious that for white working-class men it was becoming impossible to skip a college degree and live a comfortable middle-class life.
But predicting cultural upheavals from economic shifts is always dicey. Would men and women really start to relate to each other differently? Would American manhood collapse into a victim identity — and each private demise collect into a tornado of public rage? As economic forecasters will tell you, human beings tend to surprise. Homo americanus basically said screw that feminized bullshit — and resurrected a cartoon version of brute machismo with a twist of victimhood.
The only fix is for women to return to what they were intended for. Periods of gender backlash always have the drama of war. Recently, women have brought down powerful men in ways that were unimaginable only a few years ago. And recently, men have wielded power around the world in ways that were unimaginable only a few years ago.
Capitalism After the Crisis
I can more easily imagine a female president post-Trump than pre-. Their private experiences with the women in their lives have gotten folded into a readily available narrative about how modern womanhood has failed America. By Rachael Combe. Women also had more college debt, held more subprime mortgages, and experienced higher levels of default and foreclosure. Being a woman of color or a single mother in the recession meant you were even more likely to end up in poverty — with your kids, because women are usually the custodial parent.
Trends Transforming the Global Landscape
Of course, the silver lining of a backlash is what follows: revolution. The whole thing of the financialization of Wall Street, of looking at people as pure commodities and of outsourcing and globalization, came from the business schools and the financial community that had these radical ideas, and nobody kept them in check. Go back and look at the postwar period.
Companies forgot about the social fabric, forgot about your workers. Everything became commoditized.
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That led to the financial crisis of It all came home to roost. The elites save themselves. They just created money. They flooded the zone with liquidity. You know why the deplorables are angry? We took away the risk for the wealthy.
Look, you have socialism in this country for the very wealthy and for the very poor. And you have a brutal form of Darwinian capitalism for everybody else.
Dude, this is fucked up. The financial collapse talked about the rot at the heart of the system. And they all made it [about] Bernie Madoff. You have bad guys that scam people all the time in history. Obama came in and had the stimulus, almost a trillion dollars, and nobody knows where the money went. Where are my hospitals?
You know, Robert Moses built shit.
We spent a trillion dollars, do we just repave everything? It looks like the same place it was ten years ago. You know why the deplorables are pissed off? The burden is on their shoulders. All blue-collar company guys, firemen, shit like that. You know why? As told to Noah Kulwin. We did not do enough to help stave off foreclosure for some of the innocent victims of all this. Some of the people who faced foreclosure, it was their fault. They lied, and they overreached.
But other people were misled, other people had reasonable expectations and then the market for their property dropped, and then there were other victims. It was bad for two reasons. One, the fact that we were bailing out the banks. But it was exacerbated by the failure to do any serious foreclosure relief. It made me crazy. So you really did have both the tea party and Occupy grow up at the same time.
The problem for us was that the tea-party people, as people on the right so often are, were very smart politically, and they organized and they registered and they voted. My, ah, sometime ideological allies at Occupy decided that the way to change things was to smoke dope and have drum circles. Neither one of those did a hell of a lot to influence my colleagues. I mean, one of the most positive developments for me, politically, is that it took Trump to do it, but many people on the left now understand the importance of voting.
Economy of Venezuela - Wikipedia
But let me put it this way: To the extent that there are incremental changes, that they find loopholes, we think that the regulators have the power now to handle those. I was struck, recently, reading the economic report of the Federal Reserve.
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We have built honest stability into the financial system without any loss of function. It would be hard to make that happen if you had ruined the financial system. As told to Nick Tabor. You could feel the desperation at the time. If the recession never really happened, where would I actually be?
After it ended, I went around looking for work. But people who had the experience were dropping their rates. They were charging the same amount that I was, fresh out of school, but with more experience. We were, like, cannibalizing ourselves. As told to Rachel Bashein. By Malcolm Harris.
When Lehman Brothers failed on September 15, , I was a sophomore at the University of Maryland, and my fellow undergrads and I were petrified. What did this mean — would we ever be able to find jobs? It was the golden age of blogs, and my roommate and I cobbled together what happened by combing the web for experts we could trust and links to data about the derivatives market.
The New Middle Class Contract
I spent my first winter break at college going door-to-door in Iowa for the John Edwards presidential campaign. He was the labor candidate, if you recall. When the first bailout vote failed on September 29 and the market dropped, I realized that was what I wanted. When the next vote succeeded, I no longer saw opposition parties, just two performers putting on a show.
I voted for Hillary in Pennsylvania!