The Sept. 15, 2017, New York Times carried an article by Nick Corasaniti on the upcoming New Jersey governor’s race in which he explained the positions Democratic governor hopeful, Phil Murphy, holds on hot-button issues. It is a platform which could be mistaken for one proposed by Bernie Sanders.
But wait, haven’t these societal-change issues and government give-away platforms been costing the Democrats election after election for the better part of a decade?
Neither the Economy nor the system is broken.
On economic issues alone, one could understand people abandoning capitalism and turning to socialism if they were so down on their luck, but the opposite has happened in this last difficult decade — there are ever more red (Republican) states, not more blue (Democrat) states. The elections of the last few years demonstrate that the majority of voters have tended to turn even more to traditional American self-reliance.
So now let me turn to David Brooks’ column in that same issue of the Times. This one is entitled, “The Economy Isn’t Broken.” In it, Brooks pointed out that America’s economic strength is returning, and not as much for the top dogs as for everyone else. Median household income rose by 5.2 percent in 2015, its fastest rise since the 1960s; it went up 8.7 percent for women living alone. For Hispanics, it increased 6.1%, and for immigrants, it improved by 10 percent.
The portion of overall income going to the poorest 20 percent of the people increased 3 percent. The slice going to the richest segment went unchanged. Further, “The share of national income going to labor is now rising, while the share going to capital is falling.”
“The problem of the middle-class squeeze, in short, may not be with how the fruits of productivity are distributed, but the fact that there isn’t much productivity growth at all. It’s not that a rising tide doesn’t lift all boats; it’s that the tide is not rising fast enough.”
“If productivity itself is the problem, not distribution, radically different politics is demanded than we’re seeing today.…we need more dynamism, not less, more openness, not less, more growth-oriented policies.”
Brooks goes on to argue that, to increase productivity, we need fewer regulations, more skilled immigrants, more market incentives, and more research. “Today’s politics is polarizing to the populist left and the populist right…what we actually need is a resurgence of moderates.”
Back to New Jersey’s upcoming gubernatorial election: Can it be that Mr. Murphy needs to do as David Brooks suggests: Moderate his thinking on how New Jersey should address its current economic malaise, by employing his suggestions? In our hearts, we know that government-run economies don’t thrive. If those capitalists at the top were bleeding the rest of us dry, then government would have to step in and take it and redistribute it. However, if the trend Brooks is reporting continues, America won’t have to change its economic model after all. Perhaps children will no longer have to live in their parents’ basements. Perhaps the American Dream can again pass to the next generation.
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From the Bible: Rejoice in hope, be patient in tribulation, be constant in prayer. Romans 12:12
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