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Trumpnomics – Reinventing Political Economy for America and Its Forgotten People and the World under Donald Trump

Politics / US Politics Nov 13, 2016 - 03:07 PM GMT

By: Dr_R_M_Mathew

Politics

The core of the economic policies of Donald Trump, on the basis of what he has said so far, is for rebuilding America and empowering its forgotten people. For the last twenty years American economy has been reduced into mere Corporate Economics centered on the Service Sector, ignoring the Primary Sector – Agriculture, Mining, Fishing, Diary and Rural America- and the Secondary or Industrial Sector that are the real backbone of America. As a result, America has acquired several characteristics of a Third World Country. Further,  America has created a large number of the victims ,especially the rural people and the blue color workers , known as ‘ the forgotten people of America’ consisting of not only the white, but also the colored, including the Latinos,  who made Donald Trump,  the President of America.


Obama Legacy of Backwardness

Barack Obama, a colored American with very low economic and social background, become the President of America promising ‘changes’ and bringing ‘New Social Order’ and above all creating a lot of expectations. Though a lawyer and orator, Obama couldn’t understand the working of the American Economy and its backbone. As a result, Obama has been reduced into a mere puppet in the hands of the courtiers of the Corporate Sector and the Defense Industry besides a caucus of Economists and Management Experts for whom an economy is  a mere a set of computer generated data and computer simulated models without any human element.  Barack Obama is a man of lost opportunities and unfulfilled promises that made everybody angry with him.

Backbone of the Economy

Donald Trump though a billionaire businessman, he has a clear understanding of the working the American Economy and its backbone, especially the rural people, the blue color workers and the large section of lower and middle class people. He addressed their problems and promised them dignity and decent income other than mere government subsidies and social welfare programs, as these are the basic corner stone of the American Dream. 

Economists and Management Gurus

Though America has the largest number of Nobel Laureates in Economics and Management Gurus, they don’t have any solution for the ills of the American Economy and the growing backwardness of the ordinary Americans other than offering a series of computer generated data analysis, forecasting, models and simulations. Their main concern is reducing every economic problem into a set of mere quantitative data and mathematical formulas and equations without any human element and without incorporating social and technological revolutions such as Globalization and Information Technology Revolutions.  Under such a situation, the Neo-classical Economics, including Macro and Micro-Economics besides the Keynesian and the Marxian Economics and the associated Econometrics become totally obsolete and toothless.

Donald Trump and the Return of the Political Economy

The victory of Donald Trump is made possible for the anger and revenge of the ‘unforgotten people’ of America in the wake of the rise of the Corporate Sector and Globalization, giving too much emphasis to the Service Sector at the expense of the Primary and Secondary Sector. This is the basis of ‘Trumpnomics’ or the Economic Policies of Donald Trump.  It is a return of Political Economy. Humanism and above all solving the basic economic problems of the Nation and its People are the basis of Political Economy rather than the pure Science and Mathematics of Economics.  Political Economy is a human enterprise giving due rewards for all its players rather than the ‘chosen few’ drawn from the corporate and service sectors. Inter-Sector and Inter-Region Balances are the basis of Trumpnomics.

Trumpnomics

The basic challenge of Trumpnomics is developing a sound and healthy Primary and Secondary Sectors and redefining the Service Sector as the catalyst of the Primary and Secondary  Sector. No service sector can exist without the backing of the Primary and Secondary Sector especially in the case of big economies like America, India, Russia and China. Nobody, starting from the small farmer or farm worker to blue color worker of big or small industries should be ignored. Everybody must be rewarded instead of a handful of corporate heads and less than twenty percent of the white color workers, especially from the banking, finance, insurance and IT fields besides some top professionals and celebrities in sports and entertainment.

Trumpnomics necessitates for investing heavily on infrastructure development, especially in the Primary and Secondary Sectors, innovation. Topmost priority must be given in achieving competitiveness in every social and economic activity, including augmenting the quality of education, healthcare and scientific research and empowering everybody with Knowledge so as to put that knowledge for solving problems and increasing one’s own standard of living with dignity and meaningful social life.

Global Peace and Development

Donald Trump and his team have adequate time and talent to develop Trumpnomics and formulating policies, strategies and operational plans so as to executive  within the specified time that too with close monitoring, as has been done by Donald Trump in building up his business empire even in the midst of failures and challenges. Trumpnomics, if applied effectively, is capable of reversing the Global Economic Crisis and attaining greater cooperation with other major economies like Russia, Iran and India. American relationship with China, the Middle East, Africa and Latin America will soon be redefined for ensuring Global Peace and Development and above all eliminating Radical Islam and Islamic Terrorism.

My recent writings on these topics appeared in the Market Oracle (UK) can be found with the help of the following link: http://www.marketoracle.co.uk/UserInfo-Dr_R_M_Mathew.htm

Also read my earlier work related to this topic: 2011 - Coming of the Violent Global Revolutions http://www.marketoracle.co.uk/Article32380.html

28 Feb 2011 - India on The Verge of A Revolution For Corruptions (22862 Reads) http://www.marketoracle.co.uk/Article26594.html

23 Feb 2011 - The Arab Revolutions and the Emergence of a New Global Social Order http://www.marketoracle.co.uk/Article26483.html

22 Feb 2011 - Chinese Workers Surplus Value Makes China A World Economic Power http://www.marketoracle.co.uk/Article26468.html

7. 9 Feb 2009 - The Great Depression II Survival Strategies http://www.marketoracle.co.uk/Article8978.html

1 Mar 2009 - Saving America From Further Crisis In The Age Of The Great Depression II  http://www.marketoracle.co.uk/Article9175.html

12 Mar 2009 - OPEC /GCC Countries Too Are Under The Grip of The Great Depression II of 2009 http://www.marketoracle.co.uk/Article9398.html

 26 Mar 2009 - Economic Stimulus Packages — The Hidden Threats http://www.marketoracle.co.uk/Article9672.html

31 Mar 2009 - OPEC Must Also Bear The Pain of the Great Depression II http://www.marketoracle.co.uk/Article9777.html

21 Apr 2009 - Oil, Cars and Consumerism and The Global Economic Crisis: Discussion on The Great Depression II  http://www.marketoracle.co.uk/Article10161.htm

Prof. (Dr.) Raju M. Mathew

© 2016 Copyright Dr. Raju M. Mathew - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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