Have you heard anything lately or read much about “political economics”? If you attended college, you may have taken a Political Economy course, or you might have heard the term used in a high school civics class. But then you got out into the real world, and you almost never hear these two words used together. You heard a LOT about politics, and almost as much about the economy. But political economy?
Nevertheless, politics and the economy have a whole lot to do with one another. In reality, they are just about tied at the hip. President Clinton the First realized this and had a saying about it . . . remember “it’s the economy, stupid”? (This somewhat irritating motto was coined in 1992 by Clinton campaign strategist James Carville). So, what can we take from the “political economy” viewpoint to help understand what’s going on today on the political scene? The biggest happening over the past two years has obviously been Donald Trump. But following not too far behind in black swan-dom was Bernie Sanders. Can we relate Trump and Bernie to what’s going on in the American economy today?
A senior and very well respected American political journalist named John Judis recently published a good article that did just that. The article is called “All the Rage“, and is available on the New Republic web site. It’s a long read, but worth every word. There have been a whole stack of articles over the past few months attempting to explain why Trump and Sanders came out of nowhere and surprised everyone on the political scene. For now, we’re through with Bernie Sanders, but the Trump drama obviously continues to » continue reading …