None of the conventional explanations for Trump's victory stand up to scrutiny [View all]

Source: The Guardian

“I propose a different explanation than inflation qua inflation: the Covid welfare state and its collapse. The massive, almost overnight expansion of the social safety net and its rapid, almost overnight rollback are materially one of the biggest policy changes in American history. For a brief period, and for the first time in history, Americans had a robust safety net: strong protections for workers and tenants, extremely generous unemployment benefits, rent control and direct cash transfers from the American government.

Despite the trauma and death of Covid and the isolation of lockdowns, from late 2020 to early 2021, Americans briefly experienced the freedom of social democracy. They had enough liquid money to plan long term and make spending decisions for their own pleasure rather than just to survive. They had the labor protections to look for the jobs they wanted rather than feel stuck in the jobs they had. At the end of Trump’s term, the American standard of living and the amount of economic security and freedom Americans had was higher than when it started, and, with the loss of this expanded welfare state, it was worse when Biden left office, despite his real policy wins for workers and unions. This is why voters view Trump as a better shepherd of the economy.“

Read more: https://www.theguardian.com/commentisfree/2024/nov/09/trump-victory-explanation-scrutiny