Category Archives: Economy

American Trajectory to Tragedy

ADVENTURE
ASPIRATION
MYTHE
DREAM
PSYCHOSIS

Now the question is was it inevitable and is it salvageable. I would argue yes, if the culture can embrace reality and sideline the idealists. The American Fiction in support of male hegemony cannot survive. Males need to be contained, to be house bound.

The Destructionists

That’s the title of a recently published book by Dana Milbank about the Republican agenda over the last quarter century. Duh! I’ve been referring to destruction as an ideological agenda for eighteen years on this blog. So, Mr. Milbank would seem to be a bit slow. Indeed, I’d argue that the destructive national agenda came into its own with the First Gulf War and the “liberation” of household assets for “the market.” If women were not going to be returned to the household to provide unpaid labor and work for wages like the men who initiated the industrial era, then households might as well be converted into status symbols. Now we have a housing and homeless crisis because few are left to manage households.
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World Bank report on informal economies

Apparently, “underground” and “shadow” economy are now being replaced by “informal.” This is appropriate the basic objection by evaluators is that the failure to fill our bureaucratic forms prevents them from knowing what is going on. One would think that after two centuries of market development there would be greater buy-in if people’s life experiences had been improved. The World Bank has sponsored a study which is available for download.
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Illicit

Illicit, illegal and unlawful all refer to actions which re undesired because they do not conform to some law. They do not describe injurious or criminal behavior. Rather, they violate ab assumption (for which there is no legal basis) that all enterprise is properly consistent with some governmental regulation. In fact, at least under the U.S. Constitution, agents of government have no lief to hinder or assist unless
asked. Which is why they have invented a complex network of bribes to induce compliance with state directives.

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Economists are surprised

The thing about economic analysis is that it ignores time and, therefore, misses cumulative effects. It cannot anticipate tipping points. Those who had been following the growth of the underground economy and appreciated that this sector helped the U.S. avoid the 2008 crash turning into a depression, are not surprised that the pandemic increased the informal growth. Yes, the homeless are a big and growing problem because they are evidence that it is possible to survive without holding down a job. There are multiple causes and cascading effects.