One thing that has always frustrated me about discussions about economics by liberals is that the discussion rarely progresses past the topic of taxes. As if simply raising taxes on the rich would cure society's ills.

It's an interesting historical moment, when the domestic political environment is obsessed with the present and recent past, that the politicians and public cannot see that we are on the verge of a systemic change.
All the memes, all the talking points, all the political plans and agendas, are about to be shitcanned and forgotten.

Cross-posted from Real Economics.

Rexford Guy Tugwell (1891-1979) was an economist and one of the most important and innovative members of President Franklin D. Roosevelt's first Brain-Trust.

I must say that I have lost interest in the DT food fights that are so popular these days. The man won, the Democrats and other left groups keep losing and my meatspace friends are still barking up the wrong tree. But they are all good people deep down, so instead, I have been concentrating on explaining why so many people might have been desperate enough to take a chance on Trump. Most of them seem to get it, and hopefully this will lead to better outcomes going forward.

There's been a couple new interesting studies come out recently, but this one is the most revealing.