Trickle-down lies about economy

Austerity zealots are like Christian fundamentalists — the more evidence you show them that their basic assumptions are wrong, the more fervently they express their faith. Paul Krugman touches on this point, and on the success of right-wing propaganda campaigns, in a recent Rolling Stone interview:

Part of it is that if you’ve been brought up to believe that capitalism is wonderful and perfect then the notion that it could use some help every now and then becomes alien to you, and there are a lot of people who are so deep into that mindset that it’s very hard for them to get out. And then, a lot of conventional wisdom is shaped; it doesn’t just come from nowhere. It comes from the long-term operation of a lavishly funded propaganda operation. When you’ve had 40 years of [right-wing mega-donor Richard Mellon] Scaife and the Koch brothers and the Heritage Foundation and so on pushing a line about the perfection of markets and the evil of doing anything that encroaches upon the unfettered right of billionaires to do what they like, that is coloring the way people think about economics, even people who’ve never heard anything directly from any of these think tanks.

But Krugman thinks the Congressional ringleaders who are pushing austerity — i.e., cutbacks on aid to the poor, job creation, and so on — will eventually have to slink away from the party line:

I don’t think John Boehner is going to announce next week that Republicans were wrong and we need more government spending, but I do think that some time next year we might be able to have a discussion that turns around at least some of the mistakes that were made in the past few years.

One thought on “Trickle-down lies about economy

  1. Here’s something for you Odd Man Out……By 1959-60 Jimmy Hoffa had built the Teamsters into the most powerful labor union in America. That frightened the 1%. But what scared the Kennedy’s, especially Bobby, and the rest of the 1% most was Hoffa’s plan to consolidate the union and pursue a master nationwide-collective-bargining labor agreement. (A plan the Socialists [99%] had been pushing since the 1930’s.) In January 1964, Hoffa signed the National Master Freight Agreemnet which included every major transportation company, and most small ones, in America. But more importantly this agreement rendered the Taft-Hartley Act impotent. The 1% had had enough. Hoffa must go “by any means necessary.” And go he did. First to prison on trumped up charges in 1967. And when that didn’t work into a blast furnace in 1975. Look at any economic graph. 1975 was the begining of the end for organized labor in America.

Comments are closed.