Is Trump a working-class hero or a CEO's best friend? Resolving the contradiction at the heart of Trumponomics

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Photo: Michael Vadon
Media Outlet: Daily News

Matt Stoller wrote in the Daily News about Donald Trump's economic vision:

There’s a fascinating apparent paradox at the heart of Trumponomics that we need to tease out and explain.

This week, Donald Trump caused the stock of Lockheed Martin to tumble with a tweet. “The F-35 program and cost is out of control,” he said. “Billions of dollars can and will be saved on military (and other) purchases after January 20th.” He’s not wrong about cost controls on the F-35, the plane that is slated to cost more than $1 trillion, which, for frame of reference, is more than the annual gross domestic product of Australia.

The week before, he forced United Technologies to keep some jobs in the United States at their Carrier subsidiary. He went after Boeing, a firm that has made offshoring an art form. Americans haven’t seen this level of shouting at the C-suite in our lifetime, perhaps since Franklin Delano Roosevelt in 1936 proclaimed that the “forces of selfishness and of lust for power” will have met “their master.”

Author:

Matt Stoller was fellow at the Open Markets program, where he researched the history of the relationship between concentrated financial power and the Democratic party in the 20th century.