The article critiques the populist narrative shared by figures like Trump and Sanders that blames globalization for America's economic woes. It argues that this view is historically inaccurate and oversimplifies the complexities of American economic history. Key points include debunking the idea of a purely neoliberal era, highlighting that increases in federal spending and higher tax rates contradict claims of market-worshiping policies. The article also emphasizes that America experienced wage stagnation primarily in the 1970s and 80s, not during the claimed era of deindustrialization.
The era between the start of the Clinton administration and the end of the Obama one was not a libertarian/globalist free-for-all; it was a period of balance.
Despite claims of a neoliberal globalism era, significant tax rates were higher in 2016 than in 1992, contradicting the narrative of decreasing government support.
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