Uses and Abuses of Economic Formalism – The New York Times. My Comment: Tj


Trump and the media are too concerned with him! That concern misses key economic details and great stories! Trump’s Pavlovian box box of blame feeds the media into reporting a closed cycle of stories and that strip context and skip details and concepts.

Missed Details–pundits and reporters miss the key stories of the economy: the seismic failure of US corporations/the administration to innovate by modifying best practices and analyzing powerful economic trends. My readers know the stories of Bolsa Familia (Brasil’s successful poverty program that focuses income and social benefits on educational success, as education breaks the cycle), the development template success of West Virginia’s Chemical Alliance, South Carolina’s transportation manufacturing, Phoenix’s call centers, and the ultimate template, China’s Pearl River zone. You cannot talk about economics without discussing these realities, their details!

Conceptually, the distinction between political corruption and moral debauchery is being blurred and erased. Corruption’s new forms mirrors old ones: cronyism, service to special or personal interests, under Trump, a vigorous dedication to xenophobia/racism, a growing global brand of white supremacy taking national form in demands for closed borders.

Conceptually, Trump promotes fear as truth, success by misrepresentation, inflamed by broad falsehoods and scapegoating. He abuses authority, defies the rule of law, and shifts common resources to the rich.

[https://www.nytimes.com/2018/06/27/opinion/uses-and-abuses-of-economic-formalism-wonkish-and-self-referential.html?comments#permid=27662871]

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