Working Paper No. 887 | March 2017

Trump’s Bait and Switch

Job Creation in the Midst of Welfare State Sabotage

President Trump’s faux populism may deliver some immediate short-term benefits to the economy, masking the devastating long-term effects from his overall policy strategy. The latter can be termed “welfare state sabotage” and is a wholesale assault on essential public sector institutions and macroeconomic stabilization features that were built during the New Deal era and ushered in the “golden age” of the American economy. Starting in the late ’70s, many of these institutions were significantly eroded by Republicans and Democrats alike, paving the way for the rise of Trump but paling in comparison with what is to come.

Publication Highlight

Working Paper No. 900
Functional Finance
A Comparison of the Evolution of the Positions of Hyman Minsky and Abba Lerner
Author(s): L. Randall Wray
January 2018

Quick Search

Search in: