Abstract
The current economic situation in the United States can be seen as the result of three factors. The first is the long-term shift to a neo-liberal order. The second factor is the US business cycle. Periods of economic expansion in the 1980s, the 1990s and the early 2000s were each brought to an end by increasingly severe crises, the most recent of which in 2007-2009 came perilously close to causing a collapse of the US financial system. The most recent expansion, which began in mid-2009, has been unusually weak, and is already relatively long by comparison with other recent expansions.The third factor is the presidency of Donald Trump which began in January 2017. Despite a populist rhetoric and the dependence of his electoral victory on mobilising white working-class support, in government he has pursued an unashamed series of measures which primarily benefit the very richest sectors of US society.
Publisher
Vereinigung zur Kritik der politischen Okonomie e.V.
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