The economy. A failing one that led to a strike in Poland. That led to the beginning of the end of the Soviet Union. When the economy doesn't work for most people, upheaval, turmoil, and change follow. The American economy is still recovering from the fallout of the 2008 financial collapse, and we're seeing the results of economic frustration this election cycle with the successes of Bernie Sanders and Donald Trump, as well as with recent political phenomena such as the Tea Party and Occupy Wall Street. What got us here, and how do we make our economy work for everyone?
As always, happy Wednesday and happy reading.
This Day in History
1980 - The Polish government signs an accord with striking workers at the Gdansk shipyards. Striking was, of course, prohibited in the worker's paradise, so this was a blow to both the Soviet economic and the Soviet political models. While the Soviet government in Poland ultimately negotiated, western governments were taking the opposite approach; both Ronald Reagan and Margaret Thatcher broke major strikes - Air Traffic Controllers and Coal Miners - in the US and Britain respectively.
Why So Angry?
If the 80s was the decade of Western strike-breaking, 2016 may be the year of Western reckoning. Bernie, Trump, and Brexit are all products of a global economy that took jobs from places where wages were higher and moved them to places where wagers are lower (from Politico).
Despite the knock it has taken this election cycle, free trade isn't entirely a bad thing. It brings benefits to American as well as to people in other countries, but the negative side effects of decades old trade policy have never been addressed...until now.
Americans seem more economically protectionist now than we have in the past, a stance normally associated with the political left (Bernie Sanders), but very popular among Trump supporters too. In an age when our two major parties struggle to agree on the merits of pizza and ice cream, the common economic ground staked out by Trump and Sanders should definitely be an issue we address to improve our nation.
No Money, No Problems?
There are all sorts of new ideas and models for how to re-imagine our economy, too many for me to examine, but as the millennial generation and our smartphones come of age, one possibility for a new economy may be that it is cashless (from the Economist). This is a thoughtful piece about the benefits, and the potential consequences, of removing cash from our economy.
Rethinking the Paradigm
I sometimes find myself wondering if our current economic model is sustainable. Capitalism is predicated on growth, but is growth infinite? I'm not sure. If capitalism is unsustainable, what comes next (from the Guardian)? Whether capitalism is the model of the future or not, it is evident that some serious re-calibrations are in order if we are going to save it.
Tank the Tank
Though it's hard to tell from this angle, Tank here weighs a whopping 190 pounds, and when on his hind legs is as tall as I am (around 6'3"). He is as close to a tank as is canine-ly possible. Tank belongs to Matt, the apartment manager of my building, so I've encountered him on many occasions, and while he is a massive, he's just a friendly, slobbery fella looking for a hug.
Will's Weekly Trivia
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IF you choose to answer the question, respond to staton.will@gmail.com with your answer. Please note that by competing you are giving me permission to publish your first name in the trivia leader board each week.
Last Week:
1. Aside from Pompeii, what was the other major Roman town destroyed during the eruption of Mt. Vesuvius? ONE POINT
2. In which country was Lenin's co-conspirator, Leon Trotsky exiled when he was assassinated? ONE POINT
3. In America they're called hurricanes, in the Pacific they're called....? ONE POINT
Answers:
1. Herculaneum was the other major Roman town destroyed by the eruption of Mt. Vesuvius.
2. Squids have eight arms and two tentacles. I accepted both 8 and 10 as correct answers.
3. In the Pacific, hurricanes are referred to as cyclones or typhoons.
This Week:
1. What year did the Berlin Wall fall? ONE POINT
2. Who is on the $50 bill? ONE POINT
3. Who led the Polish workers strike? ONE POINT
