I read somewhere that in the early Reagan/Thatcher years, business leaders (not just labor) were so used to a regulated economy, they resisted deregulation. Took a new generation of risk-taking entrepreneurial leaders for the business world to become champions of deregulation.
-
-
Right now, I suspect the outgoing Trump regime is being kinda schizophrenic. Strengthening specific-market-protecting moats (which individual crony businesses like) but providing less generic economic supervision esp re Covid etc than I think businesses want.
Show this thread -
Point being, the uniquely bad condition of the US-UK axis is probably due to the uniquely strong embrace of the Reagan-Thatcherism. Not Anglo culture. The downside risk potato is tossed back and forth between state and business sector. Privatize gains/socialize losses system.
Show this thread -
Challenge today: you don’t want to continue neoliberal regulation models, but we don’t want to go back to LBJ era great society regulatory model either. You don’t want regulation that’s mainly around moats and bailouts, but you do want it around public-interest issues.
Show this thread -
Oddly I think we’re in a weird condition where most businesses would largely agree with this, but it’s politicians that want to continue the old regime. I don’t think there’s even much appetite for nationalist protectionism outside Luddite sectors. Only narrow China protection.
Show this thread
End of conversation
New conversation -
-
-
Related: The business class is rife with optionality-seeking individuals, and as one of them, I felt simultaneously seen and attacked by this spot-on essay. "Optionality is the state of enjoying possibilities without being on the hook to do anything."https://www.thecrimson.com/article/2017/5/25/desai-commencement-ed/ …
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
And I don't think the political class is less risk averse - I think they are better insulated from the impacts of the decisions, so have less personally at risk when making stupid calls.
-
Yeah, except when the risks affect elections. Like Republicans would rather let businesses impose mask mandates individually than do it themselves at a public level because it’s an election losing issue for them.
- Show replies
New conversation -
-
-
Interesting, similar to the socializing losses and privatizing profits argument
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.