Ones and Tooze How the U.S. Election Will Affect the Economy
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Nov 1, 2024 The podcast dives into the stark contrasts between the economic platforms of Harris and Trump, questioning how the election might reshape the U.S. economy. It examines recent job growth and the Democratic Party's shift towards labor-focused policies. The potential impacts of a Trump presidency, including tax cuts and rising income inequality, are discussed. The episode also touches on North Korea's significant military involvement in Ukraine, exploring the implications of this new front on global politics and the U.S. economy.
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The Significance of the Election
- The upcoming U.S. election is framed as potentially changing the country's economic trajectory.
- The discussion aims to analyze what's truly at stake from an economic history perspective.
U.S. Economic Structure
- The U.S. economy's main axis isn't manufacturing, despite the Biden administration's emphasis on it.
- The dollar's global centrality, Wall Street, big tech, AI, and the U.S.'s position as a major fossil fuel producer define its current economic structure.
Bidenomics and Policy Shifts
- "Bidenomics" is more about policy framing than a fundamental economic shift, marking a departure from the Wall Street-led policymaking of past decades.
- It focuses on production, labor, and national security, representing a cultural shift within the Democratic Party's policy approach.