Can Capitalists Afford a Trumped Recovery?
Bichler, Shimshon and Nitzan, Jonathan. (2017). Research Note. January. pp. 1-6. (Article - Working Paper; English).
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Abstract or Brief Description
The presidential election of Donald Trump has rekindled hopes for a U.S. recovery. The new president promises to ‘make America great again’, partly by creating many millions of new jobs for U.S. workers, and judging by the rising stock market, capitalists seem to love his narrative. But if Trump actually delivers on his promise, their attitude is likely to change radically. In our 2016 paper, ‘A CasP Model of the Stock Market’, we developed the concept of a ‘CasP policy cycle’, the idea that government policy, insofar as it caters to the imperative of capitalized power, favours low employment growth in order to enable low rates of interest and sustain the capitalist share of income. Should Trump proceeds with and succeeds in reversing this CasP policy cycle, his authoritarianism may end up undermining rather than boosting capitalized power. In this sense, his regime could well mark the beginning of the next major bear market.
Publication TypeArticle - Working Paper
Commentary onA CasP Model of the Stock Market
Bichler, Shimshon and Nitzan, Jonathan. (2016). Real-World Economics Review. No. 77. December. pp. 119-154. (Article - Journal; English).
KeywordsDonald Trump Iron Heel major bear market stock market strategic sabotage
SubjectBN Money & Finance
BN Region - North America
BN Value & Price
BN Capital & Accumulation
BN Conflict & Violence
Depositing UserJonathan Nitzan
Date Deposited30 Jan 2017 09:41
Last Modified31 Jan 2017 18:19
Bichler, Shimshon and Nitzan, Jonathan
A CasP Model of the Stock Market. (deposited 10 Dec 2016 15:54)
- Bichler, Shimshon and Nitzan, Jonathan Can Capitalists Afford a Trumped Recovery? (deposited 30 Jan 2017 09:41) [Currently Displayed]
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