This article is Michael Hudson’s review of the political dynamics and economic theory that guided America’s rise to industrial power. How are the Orange Lobster’s antics either a continuation or a departure from that history? Under what conditions can manufacturing return to Mordor?
Trump’s tariff policy has thrown markets into turmoil among his allies and enemies alike. This anarchy reflects the fact that his major aim was not really tariff policy but simply to cut income taxes on the wealthy by replacing them with tariffs as the main source of government revenue.
Read Michael Hudson
