Previous posts in this discussion:
PostDefining Trumponomics (Tor Guimaraes, USA, 10/17/20 4:10 am)
Commenting on my last post, John Eipper asked, "How might we sum up Trumponomics? Can we say there even is such a thing? In many senses it's made up on the fly. Equal parts protectionism, tax cuts for corporations and the wealthy, reduced regulations..."
My definition of Trumponomics: A personal set of social political economic policies, whereby the primary objective is to encourage or execute, legal or illegal activities expected to quickly produce massive wealth for the leader and his friends. Because traditional science-based national economic policy is designed for the benefit of the nation, it conflicts directly with Trumponomics regarding the ultimate results from protectionism, tax cuts for corporations and the wealthy, environmental destruction, etc.
Thus, only by incessant hiding, obfuscation, confusion, misrepresentation, misdirection, and bullying of anyone seeking the facts, the leader repeats that all is going extremely well to hide the yawning gap between the leader's fleecing motivation and the national interest.
JE comments: Rather critical, I'd say. (!) One curiosity: Is Trumponomics entirely new, or is it a modern twist on the caudillo/strongman economic policies of yore--meaning, an amalgam of populism, nationalism and cronyism, with the foremost goal of gaining personal advantage?
Latin America may provide some lessons on this. Tor, do you see any precursors of Trumponomics in Brazilian history?
Does Trumponomics Have a Precursor?
(Tor Guimaraes, USA
10/19/20 4:18 AM)
John Eipper commented on my post of October 17th: "Is Trumponomics entirely new, or is it a modern twist on the caudillo/strongman economic policies of yore--meaning, an amalgam of populism, nationalism and cronyism, with the foremost goal of gaining personal advantage? Latin America may provide some lessons on this. Tor, do you see any precursors of Trumponomics in Brazilian history?"
America, by supposedly being the land of the free and home of the brave, freedom, democracy, exceptionalism, etc., seemed immune to Trumpism or Trumponomics. Up to now the latter, aka "Trickle-down economics" in a much milder form, has been often well disguised in developed nations around the world in many different forms. But it occurs whenever and wherever leaders squeeze their own people to enrich themselves and their partners.
As defined in an earlier post, the term "Trumponomics" represents a set of personally focused social political economic policies which have been responsible for countless wars, financial crises, etc. all over the world, including Latin America. Quite obviously, Bolsonaro today provides a perfect example for this phenomenon in Brazil, but history has many similar cases but never made so shocking by an added scourge like Covid-19.
I wrote before on this Forum, that I believed Trump could be good to America because his blatantly careless style about so many serious things would allow the masses to make a connection between Trumponomics and the realities on Main Street. In that fashion he could provide a unique, and perhaps his only, service to the American people. That is turning out to be the case, except despite all the evidence, a significant proportion of Americans (Christian Fundamentalists and White Supremacists at the forefront), insist on advancing their Trump-based agendas.
JE comments: Tor, are you saying that Trump's biggest contribution to society is a wake-up call; meaning, see what you get when you elect a guy like Trump? Comparisons of Trump to Latin American caudillos tend to focus on their authoritarian style, jingoistic nationalism and cult of personality. They omit the economic component, which tends to cloak personal ambition in a veneer of populism. Here's a recent example from Mexican academic Jorge G. Castañeda: