Via Robert Waldmann via  Paul Krugman: The central fact of U.S. political economy, the source of our exceptionalism, is that lower-income whites vote for politicians who redistribute income upward and weaken the safety net because they think the welfare state is for nonwhites  to Noah’s opinion :  A few people have noticed me tweeting a lot more about racial/cultural […]

By Steve Roth  (from 2016 October 2) Democracy. Capitalism. Socialism. Choose Any Three of the Above If you don’t have a big bathtub of oil in the ground, you need all three to deliver widespread economic well-being. In the millennias-long evolution of human societies and economic systems, we find ourselves today at a pass where three systems predominate, and fitfully […]