One thing that was left out of this conversation is how the trump campaign exploited the culture wars. One of the main tactics of the MAGA movement is to "own the libs." You still see that in comments on FB, and other social media. Just today, I got a FB reply from a retired school principal, telling my to fall in line:
"Don’t cry and don’t be shy. Join the winners, give us a try!
Come out of ur cocoon and enjoy a new life. Don’t let the MAGA victory give you any strife. Congrats, you now have a MAGA friend in me. Come live in Florida, the state of the free. Yes, you and all will benefit from the next four years. No more censorship, inflation, coups, or fears. Starting Jan 20th Prez Trump will be in charge. After that you and ur friends will be living large! Yes, the MAGA ‘stupid, deplorable, and garbage’ welcome you to the chaos in 2025. Please fellow Americans, embrace a new beginning and feel alive!
Peace, love and MAGA.”🤪❤️"
MAGAs are not interested in political policy debates.
Happy New Year, friends in The.Ink! Before even reading today's posting, I want to thank The.Ink for introducing me to a couple of insightful, informative, thought-provoking and even inspiring people/sources from 2024. First, Astra Taylor, whose "The Age of Insecurity. Coming Together as Things Fall Apart" I finished last week; and, second, Musa al-Gharbi, whose "We Have Never Been Woke" gives a valuable perspective on "wokeness" in American history and politics! Thank you, folks! It will be a good year together.
I have been noticing that most of the post election commentary in progressive writings is about class. Although I don't disagree with this analysis, I have to say that I am amazed and disappointed at the lack of discussion of racism and sexism. White people (men and also some women) need to get it that countries all over the world have women leaders and some have women of color, and yet no analysis of racism and sexism in the US?? White men need to start talking to white men about their racism and sexism.
Management incentive plans (e.g., stock options) result in the maximization of shareholder value, thereby minimizing employee, customer, and community value. These incentives have resulted in the income inequity we have seen in the US over the past forty years. Management members are not to blame, they were and are playing by the rules of our economic system.
Higher taxes and public investment in the many, although important and necessary, won’t change our economic system. Unions won’t change the system either. Only outside the box, seemingly impossible solutions can actually change the fundamentals of our shareholder focused economy.
Information is power. Shareholders, through corporations, control the information provided to employees to minimize employment costs and therefore maximize profits for shareholders.
In order to balance the power between the employment market and the capital (shareholder) market we need the government to ensure that corporations provide accurate and adequate information for employees. The government did that for the capital markets with the SEC, the government should do that for the employment market with an SEC-type entity.
Important information that corporations would be required to provide could be:
• Corporate goals and how they are balanced for the interests of all participants (employees, consumers, communities, and shareholders)
• Board representation and how it is balanced for the interests of all participants
• Management compensation plans and how they are designed to accomplish the corporate goals, particularly those that balance the interests of all participants
• Shareholder equity value included in management compensation plans, if any, and how management is incentivized to balance the interests of the other participants
• Compensation for the CEO, senior management, and other employee groups
• Roles, responsibilities, compensation levels and structures for each group
This would cause corporations and employees to consider how to best address the importance of all corporate participants.
The US is culturally stunted in its tiny view of reality. Post-neoliberals understand that If I do well but millions of other Americans are suffering, struggling, feel ignored and valued too little, that's unjust, and it has to be corrected with programs of all-inclusiveness. If I'm in a rural area, I risk complacency and self-absorption if I ignore the needs and perils of urban folks. I heartily feel common cause with all people of all ages and places. And not only in the US but everywhere. And common dignity with all animals and plants, threatened with pollution and its global catastrophic effects. I think Anand, Felicia Wong, Adam Lowenstein and countless others agree.
Very good interview and I agree with the emphasis on class and inequalities. I would like to add that it isn't corporations that are the problem; it's the people who run and fund the corporations. A corporation is simply a legal entity that allows individuals to conduct business. It's the CEOs and other occupants of the C-suite who who've bought into Milton Friedman's idea that it's the social responsibility of a corporation to maximize its profits. It's also Wall Street analysts, hedge fund owners and owners of private equity firms who constantly push profit maximization. New ideas need to supplant profit maximization, such as stakeholder theory. Stakeholder theory emphasizes the needs of all corporate stakeholders (workers, their families, the community, government, the environment, etc.) and not just the needs of shareholders. Greed needs to be exposed and condemned, not applauded and revered, and this should be reflected in our politics. None of the wealthy would be where they are today without the work and support of others. We need to get away from mythologizing and idolizing the wealthy.
Yes, class has been a word too long left out of national and local conversations. It's about time people on both sides of the political spectrum recognize that there is another way to understand what Americans have witnessed happen to their country for OVER the past 45 years or even more. There are thinkers and activists out there who speak to this issue. I'm waiting for Anand to interview Sarah Smarsh ("Heartland: A Memoir of Working Hard and Being Broke in the Richest Country on Earth" and Olefumi O. Taiwo ("Elite Capture: How the Powerful Took Over Identity Politics [And Everything Else)])". Look into the work that Patriotic Millionaires is doing to rally folks around the notion that our system is rigged! A documentary "The Deciders" was recently made about their efforts to organize people in one of the poorest counties in NC around raising the minimum wage. There are people out there who understand what's happening and are doing great work. They just need to start recognizing each other and building coalitions.
This is the most hopeful thing I’ve read recently. I’m ready to sign up for the Roosevelt Society!
Great interview. Important points to ponder. Thank you.
One thing that was left out of this conversation is how the trump campaign exploited the culture wars. One of the main tactics of the MAGA movement is to "own the libs." You still see that in comments on FB, and other social media. Just today, I got a FB reply from a retired school principal, telling my to fall in line:
"Don’t cry and don’t be shy. Join the winners, give us a try!
Come out of ur cocoon and enjoy a new life. Don’t let the MAGA victory give you any strife. Congrats, you now have a MAGA friend in me. Come live in Florida, the state of the free. Yes, you and all will benefit from the next four years. No more censorship, inflation, coups, or fears. Starting Jan 20th Prez Trump will be in charge. After that you and ur friends will be living large! Yes, the MAGA ‘stupid, deplorable, and garbage’ welcome you to the chaos in 2025. Please fellow Americans, embrace a new beginning and feel alive!
Peace, love and MAGA.”🤪❤️"
MAGAs are not interested in political policy debates.
Happy New Year, friends in The.Ink! Before even reading today's posting, I want to thank The.Ink for introducing me to a couple of insightful, informative, thought-provoking and even inspiring people/sources from 2024. First, Astra Taylor, whose "The Age of Insecurity. Coming Together as Things Fall Apart" I finished last week; and, second, Musa al-Gharbi, whose "We Have Never Been Woke" gives a valuable perspective on "wokeness" in American history and politics! Thank you, folks! It will be a good year together.
I have been noticing that most of the post election commentary in progressive writings is about class. Although I don't disagree with this analysis, I have to say that I am amazed and disappointed at the lack of discussion of racism and sexism. White people (men and also some women) need to get it that countries all over the world have women leaders and some have women of color, and yet no analysis of racism and sexism in the US?? White men need to start talking to white men about their racism and sexism.
Great interview!
Management incentive plans (e.g., stock options) result in the maximization of shareholder value, thereby minimizing employee, customer, and community value. These incentives have resulted in the income inequity we have seen in the US over the past forty years. Management members are not to blame, they were and are playing by the rules of our economic system.
Higher taxes and public investment in the many, although important and necessary, won’t change our economic system. Unions won’t change the system either. Only outside the box, seemingly impossible solutions can actually change the fundamentals of our shareholder focused economy.
Information is power. Shareholders, through corporations, control the information provided to employees to minimize employment costs and therefore maximize profits for shareholders.
In order to balance the power between the employment market and the capital (shareholder) market we need the government to ensure that corporations provide accurate and adequate information for employees. The government did that for the capital markets with the SEC, the government should do that for the employment market with an SEC-type entity.
Important information that corporations would be required to provide could be:
• Corporate goals and how they are balanced for the interests of all participants (employees, consumers, communities, and shareholders)
• Board representation and how it is balanced for the interests of all participants
• Management compensation plans and how they are designed to accomplish the corporate goals, particularly those that balance the interests of all participants
• Shareholder equity value included in management compensation plans, if any, and how management is incentivized to balance the interests of the other participants
• Compensation for the CEO, senior management, and other employee groups
• Roles, responsibilities, compensation levels and structures for each group
This would cause corporations and employees to consider how to best address the importance of all corporate participants.
The US is culturally stunted in its tiny view of reality. Post-neoliberals understand that If I do well but millions of other Americans are suffering, struggling, feel ignored and valued too little, that's unjust, and it has to be corrected with programs of all-inclusiveness. If I'm in a rural area, I risk complacency and self-absorption if I ignore the needs and perils of urban folks. I heartily feel common cause with all people of all ages and places. And not only in the US but everywhere. And common dignity with all animals and plants, threatened with pollution and its global catastrophic effects. I think Anand, Felicia Wong, Adam Lowenstein and countless others agree.
I read until I couldn't read anymore. It's Capitalism, stupid. Listen to Richard Wolff or look to western Europe. It's not that hard.
Very good interview and I agree with the emphasis on class and inequalities. I would like to add that it isn't corporations that are the problem; it's the people who run and fund the corporations. A corporation is simply a legal entity that allows individuals to conduct business. It's the CEOs and other occupants of the C-suite who who've bought into Milton Friedman's idea that it's the social responsibility of a corporation to maximize its profits. It's also Wall Street analysts, hedge fund owners and owners of private equity firms who constantly push profit maximization. New ideas need to supplant profit maximization, such as stakeholder theory. Stakeholder theory emphasizes the needs of all corporate stakeholders (workers, their families, the community, government, the environment, etc.) and not just the needs of shareholders. Greed needs to be exposed and condemned, not applauded and revered, and this should be reflected in our politics. None of the wealthy would be where they are today without the work and support of others. We need to get away from mythologizing and idolizing the wealthy.
Yes, class has been a word too long left out of national and local conversations. It's about time people on both sides of the political spectrum recognize that there is another way to understand what Americans have witnessed happen to their country for OVER the past 45 years or even more. There are thinkers and activists out there who speak to this issue. I'm waiting for Anand to interview Sarah Smarsh ("Heartland: A Memoir of Working Hard and Being Broke in the Richest Country on Earth" and Olefumi O. Taiwo ("Elite Capture: How the Powerful Took Over Identity Politics [And Everything Else)])". Look into the work that Patriotic Millionaires is doing to rally folks around the notion that our system is rigged! A documentary "The Deciders" was recently made about their efforts to organize people in one of the poorest counties in NC around raising the minimum wage. There are people out there who understand what's happening and are doing great work. They just need to start recognizing each other and building coalitions.
Taiwo and Smarsh are both excellent analysts indeed; there was a conversation here with Smarsh a couple of months back you might find interesting:
https://the.ink/p/sarah-smarsh-prairie-populism