Re: Any takers?

["Devine, James" <jdevine@xxxxxxx>]

Title: RE: [PEN-L] Any takers?

 
So her is the challenge to all of you professional economists. What
about
drawing up an effective economic program for the next electoral
showdown?
It could be articulated along the following lines:
·       Macro-economic policy
·       Social benefits (social Security, Medicare, Medicaid, etc.)
·       Fiscal policy
·       International trade policy
·       Labour policies
·       Deregulation.

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progressive change doesn't come from a nice, Democratic Party-style, program (just as "Leninist" correct lines and correct programs don't produce much). It comes from a mass movement that pressures the established politicians, counteracting the massed power of big money, while developing the power to replace the current system. Programs such as FDR's were instituted in response to crisis and conflict (sit down strikes and the like), not because the Brains Trust had big brains.

However, if I thought like a Democrat, I'd say that the Dems have to give up their fiscal conservatism (balance the budget, balance the budget, ad nauseum). Instead, they should be saying that deficits are okay (as a way to fight recession) if the accumulated government debt corresponds to government investment, in infrastructure, education, public health, research, and the like, all of which help the economy handle the debt. They should also criticize this business of replacing taxing the rich with borrowing from them and paying them interest.

I'll let true policy wonks talk about the rest.

Jim