Something about capitalism

Created
Mon, 03/04/2023 - 00:30
Updated
Mon, 03/04/2023 - 00:30
Nothing systemic here, nope There’s something about these maps. The legacy of slavery is right there in color. The persistence of poverty across the South is too. It is of course more complicated, as Gordon Hansen of Harvard’s Kennedy School explains. Well-heeled fans of The Market often treat workers as pawns, abstractions called human resources expected to move about the board of states in pursuit of work when jobs dry up where in places they call home. Relocating requires financial means the poor often lack. Not to mention people’s attachment to place is often more powerful than economics. (Blasphemy, I know.) Donald Trump considers such people losers. They consider him their champion for reasons that have little to do with The Market. The Market is not some force of nature independent of human control. It is not somehow upset by human attempts to regulate it. That’s the U.S. Chamber of Commerce and the financial sector. Jeremy Ney, author of American Inequality substack, is a former researcher at MIT, Harvard, and Federal Reserve, and creator of the Life Expectancy graphic. “U.S. manufacturing has had the biggest decline in employment of any sector in the last 40 years. Since the year 2000, the U.S. has lost over a quarter of its manufacturing jobs,” Ney writes. The effects on inequality are stark: Working in manufacturing used to be a great way to break into the middle-class, particularly for non-college educated Americans. In 1990, manufacturing workers were earning $10.78/hr or 6% more than their peers in…