5 Thomas Frank Quotes on Economics

Thomas Frank quotes on economics

1. Derangement is the signature expression of the Great Backlash, a style of conservatism that first came snarling onto the national stage in response to the partying and protests of the late sixties. While earlier forms of conservatism emphasized fiscal sobriety, the backlash mobilizes voters with explosive social issues - summoning public outrage over everything from busing to un-Christian art - which it then marries to pro-business economic polices. Cultural anger is marshaled to achieve economic ends. And it is these economic achievements - not the forgettable skirmishes of the never-ending culture wars - that are the movement's greatest monuments. The backlash is what has made possible the international free-market consensus of recent years, with all the privatization, deregulation, and de-unionization that are its components. Backlash ensures that Republicans will continue to be returned to office even when their free-market miracles fail and their libertarian schemes don't deliver and their 'New Economy' collapses. It makes possible the police pushers' fantasies of 'globalization' and a free-trade empire that are foisted upon the rest of the world with such self-assurance. Because some artist decides to shock the hicks by dunking Jesus in urine, the entire plant must remake itself along the lines preferred by the Republican Party, U.S.A. The Great Backlash has made the laissez-faire revival possible, but this does not mean that it speak to us in the manner of the capitalists of old, invoking the divine right of money or demanding that the lowly learn their place in the great chain of being. On the contrary; the backlash imagines itself as a foe of the elite, as the voice of the unfairly persecuted, as a righteous protest of the people on history's receiving end. That is champions today control all three branches of government matters not a whit. That is greatest beneficiaries are the wealthiest people on the plant does not give it pause.

2. Old-fashioned values may count when conservatives appear on the stump, but once conservatives are in office the only old-fashioned situation they care to revive is an economic regimen of low wages and lax regulations. Over the last three decades they have smashed the welfare state, reduced the tax burden on corporations and the wealthy, and generally facilitated the country's return to a nineteenth-century pattern of wealth distribution. Thus the primary contradiction of the backlash: it is a working-class movement that has done incalculable, historic harm to working class people. The leaders of the backlash may talk Christ, but they walk corporate. Values may 'matter most' to voters, but they always take a backseat to the needs of money once the elections are won. This is a basic earmark of the phenomenon, absolutely consistent across its decades-long history. Abortion is never halted. Affirmative action is never abolished. The culture industry is never forced to clean up its act.

3. Grandstanding leaders never deliver, their fury mounts and mounts, and nevertheless they turn out every two years to return their right-wing heroes to office for a second, a third, a twentieth try. The trick never ages; the illusion never wears off. Vote to stop abortion; receive a rollback in capital gains taxes. Vote to make our country strong again; receive deindustrialization. Vote to screw those politically correct college professors; receive electricity deregulation. Vote to get government off our backs; receive conglomeration and monopoly everywhere from media to meatpacking. Vote to stand tall against terrorists; receive Social Security privatization. Vote to strike a blow against elitism; receive a social order in which wealth is more concentrated then ever before in our lifetimes, in which workers have been stripped of power and CEOs are rewarded in a manner beyond imagining.

4. [The right] may never bring prayer back to schools, but it has rescued all manner of rightwing economic nostrums from history's dustbins. Having rolled back the landmark economic reforms of the sixties (the war on poverty) and those of the thirties (labor law, agricultural price supports, banking regulation), its leaders now turn their guns on the accomplishments of the earliest years of progressivism (Woodrow Wilson's estate tax; Theodore Roosevelt's anti-trust measures). With a little more effort, the backlash may well repeal the entire twentieth century.

8. Apparently, there is no bad economic turn a conservative cannot do unto his buddy in the working class, as long as cultural solidarity has been cemented over a beer.