Thursday, November 19, 2020

883: Adam Smith Explains Voting Behavior......

In 2016 63 million Americans voted for Donald Trump. In 2020 71 Americans voted for Donald Trump. How is that possible?


There certainly is truth to the theory that racism, xenophobia, and status preservation of white voters are fundamental driving forces,


But does it mean that more Americans have become racist and xenophobic and white supremacist, or is there a more rational explanation?


In an article in the Correspondent the journalist Nesrine Malik in fact explained, what Adam Smith in 1776 already understood American voting behavior.


It may be true that the Trump base harbors white supremacists and racists, but not 71 million people. What made people vote for Trump?


Reason one: Between January 2017 and July 2020, the Trump administration took over 400 executive actions on immigration. 


From a European perspective, it was hot news, but it is just one reason.



[Reason two]   For the rich and private enterprise classes, Trump made a material impact on their businesses and income. (...)


[Reason three]   Record stock prices and a bullish market, in general, didn’t just benefit corporates who were synthesizing their own share values. (...)

They also benefited high-earning investors. And a whopping 88% of those who have an income of $100,000 and above have some kind of investment in the markets. (...)


In short, high earners had the ability of liquidating and consolidating their gains across market investments, tax cuts and windfalls all at once.(...)

These are material gains for a cross-section of society that will vote to preserve and increase wealth. (...)

[Reason four]   According to the Tax Policy Center, those who are in the top 20% of the income bracket benefitted from a 3% gain in income under the Trump administration. The average high-income household enjoyed a windfall of about $10,000. (...)


[Reason five]    Even when entrepreneurs and small business owners expressed concerns about Trump and his administration, they begrudgingly admit that he has been good for business. (...)


As early as a year into the Trump administration, a survey revealed that 65% of business owners thought that the new tax regime was the “best thing the government did for their companies last year”. (...)


[Reason six]    Unemployment not only fell since Trump came to office. The least educated saw their employment prospects rise at a rate 


higher than those with a college qualification or higher. 2019 also saw the largest fall in poverty in a single year since 1966, with 4.2 million people lifted off food stamps. (...)


[Reason seven]   Nominal wages in 2018 and 2019 rose at the fastest rate since before the recession. This impacted US Americans at the lower end of the labour scale most of all, those with no high school diploma fared particularly well. - END QUOTE


In 1776 Adam Smith explained why the baker bakes his bread. Not to feed his fellowmen, but because of his self-interest. He wants to make money.


That this is also beneficial for his fellowmen is a pleasant incidental.


The media spent almost all their time reporting about the incompetence, immorality and illegalities of the incumbent.


But the average voter shrugs and we have heard it often enough: Yes, I know ...I don't agree with his behavior, but he is good for the economy.  He creates jobs"


Although Adam Smith also wrote a lot about ethics, the concept of self-interest  is the core of his economical thinking, which today could be translated into "MONEY BEFORE MORALS..."


That is why most of the 71 million people voted for Donald Trump. Adam Smith was right......


Thank you again for your attention...


Nesrine Malik, Not every Trump voter is racist or misled. There’s a rational Trump voter too ( Nov 11, 2020)

The Discussion

[13:14] herman Bergson: I know I left you speechless ˆ_ˆ

[13:14] Gemma (gemma.cleanslate): Adam did not know about the Hilary haters or even think of misogynists

[13:15] Gemma (gemma.cleanslate): ut yes he ws right

[13:15] .: Beertje :. (beertje.beaumont): a human lufe has no value at all for him

[13:15] herman Bergson: It is money that counts...

[13:15] CB Axel: Two problems: 1) those business people all voted before. They voted both times for Trump. The rise in voters was due to more of Trumps base actually going to the polls.

[13:16] .: Beertje :. (beertje.beaumont): so he murders thousands of people

[13:16] herman Bergson: Those hillary haters arent 71 million Americans Gemma

[13:16] Particle Physicist Bejiita (bejiita.imako): I guess and indeed u need money for everything , but wel

[13:16] Gemma (gemma.cleanslate): no but she won the vote

[13:16] CB Axel: Many lower class Americans think that patriotism mean driving around with American and Confederate flags on their trucks.

[13:16] Gemma (gemma.cleanslate): true

[13:16] CB Axel: They don't actually go out and vote.

[13:17] Gemma (gemma.cleanslate): but the percentage of people including men and women who did hate Hilary was a percentage of why she lost

[13:17] herman Bergson: What I was wondering was...if Trump had campaigned on these 7 reasons, he might have won...

[13:17] CB Axel: 2) many of the jobs that were created during Trumps administration are service sector jobs that pay minimum wage or less.

[13:17] Gemma (gemma.cleanslate): if they had voted might have been just enough to get the electoral college

[13:17] Gemma (gemma.cleanslate): really

[13:18] CB Axel: Sure there are more jobs, but if you need to work 3 of them to make ends meet, they're meaningless.

[13:18] Particle Physicist Bejiita (bejiita.imako): eee ok

[13:18] Gemma (gemma.cleanslate): he gets too much credit for the economy yes it was already on its way when he was elected

[13:18] Particle Physicist Bejiita (bejiita.imako): so it only gained Trumps rich boss friends again then

[13:18] herman Bergson: I have heard that too, CB....

[13:18] herman Bergson: fake jibs actually

[13:19] herman Bergson: jobs

[13:19] Gemma (gemma.cleanslate): true

[13:19] CB Axel: Right, Gemma.

[13:19] Particle Physicist Bejiita (bejiita.imako): and indeed i cant see Trump doing anything for the poor, because to him if ur not rich ur just trash

[13:19] Gemma (gemma.cleanslate): but yes money was at the root of it

[13:19] herman Bergson: True GEmma

[13:19] Particle Physicist Bejiita (bejiita.imako): so slavery jobs created then?

[13:19] Particle Physicist Bejiita (bejiita.imako): basically

[13:19] Gemma (gemma.cleanslate): not really quite bej

[13:19] CB Axel: Part-time jobs that pay poorly and don't give any benefits like health care.

[13:20] Jenny Coffee Queen Core (jenny.kaos) is online.

[13:20] herman Bergson: But what is most interesting here is this concept of self-interest that Adam Smith pointed at....more than 300 years ago

[13:20] Gemma (gemma.cleanslate): snce we dont have state health care

[13:20] Particle Physicist Bejiita (bejiita.imako): that sounds trump like indeed cb

[13:20] Particle Physicist Bejiita (bejiita.imako): gain only the wealthy

[13:20] Gemma (gemma.cleanslate): I think he was looking backwards too this is not the first time or place

[13:21] herman Bergson: what do you mean Gemma?

[13:21] CB Axel: Adam Smith may have been baking bread to earn money, but he wasn't helping anyone else.

[13:21] Gemma (gemma.cleanslate): his works were not based on just the future

[13:21] Gemma (gemma.cleanslate): but the past experience

[13:21] Gemma (gemma.cleanslate): somewhere

[13:21] herman Bergson: yes yes, but he gave this positive twist too it

[13:22] Gemma (gemma.cleanslate): true

[13:22] herman Bergson: following self-interest is beneficial for the it is NOT a bad thing

[13:22] CB Axel: If Adam Smith's baker was selling a dozen loaves of bread a day he would make the dough, bake the bread, and work the cash register on his own.

[13:23] herman Bergson: His next step was his belief in the workings of a free market

[13:23] CB Axel: Any money he made or saved in tax cuts would go into his pockets and not into hiring employees.

[13:23] Gemma (gemma.cleanslate): ha

[13:23] Gemma (gemma.cleanslate): yes

[13:24] herman Bergson: That is what has happened these days CB

[13:24] theo Velde is online.

[13:24] Gemma (gemma.cleanslate): right exactly

[13:24] CB Axel: If he sold 10 dozen loaves a day, he'd have to hire a baker and maybe someone to help in the shop.

[13:24] Particle Physicist Bejiita (bejiita.imako): hmm :(

[13:24] herman Bergson: Buying their own stock

[13:24] Gemma (gemma.cleanslate): yrp

[13:24] Gemma (gemma.cleanslate): yep even

[13:24] CB Axel: And how is he going to sell that much bread? By giving more money to 1% of the population?

[13:25] herman Bergson: But what is clear is, that Smith in fact shaped our present frame of mind regarding economics

[13:25] Gemma (gemma.cleanslate) GIGGLES!!

[13:25] Gemma (gemma.cleanslate): ...LOL...

[13:25] CB Axel: I'd rather the 99% have more money to buy bread, not the 1%.

[13:25] Gemma (gemma.cleanslate): for many yes

[13:25] Particle Physicist Bejiita (bejiita.imako): aaa

[13:25] Particle Physicist Bejiita (bejiita.imako): yep

[13:25] CB Axel: Give the 99% the tax cuts.

[13:25] Particle Physicist Bejiita (bejiita.imako): tasty stuff for EVERYONE!

[13:25] Particle Physicist Bejiita (bejiita.imako): YAY! (yay!)

[13:25] Particle Physicist Bejiita (bejiita.imako):

[13:25] Gemma (gemma.cleanslate): yay

[13:25] Gemma (gemma.cleanslate) GIGGLES!!

[13:25] Gemma (gemma.cleanslate): ...LOL...

[13:25] Gemma (gemma.cleanslate): oops

[13:26] Gemma (gemma.cleanslate): forgot i had that on

[13:26] Particle Physicist Bejiita (bejiita.imako):

[13:26] .: Beertje :. (beertje.beaumont): yay

[13:26] herman Bergson: ˆ_ˆ

[13:26] Gemma (gemma.cleanslate): different colors ha

[13:26] Particle Physicist Bejiita (bejiita.imako): (brushes 2 kilo confetti off)

[13:27] .: Beertje :. (beertje.beaumont): but what about his lying about almost everything?

[13:27] Gemma (gemma.cleanslate): Adam smith?

[13:27] Particle Physicist Bejiita (bejiita.imako): they don't care, as u said money is everything

[13:27] .: Beertje :. (beertje.beaumont): no Trump

[13:27] Gemma (gemma.cleanslate): oh

[13:27] Particle Physicist Bejiita (bejiita.imako): as long they get money they have no ethic thinking whatsoever

[13:27] herman Bergson: That is the point, Beertje....voters just shrug and say...ok..not good , but he improved my financial position, so.....

[13:28] Gemma (gemma.cleanslate): no one of his basse believes or cares that he is lying

[13:28] CB Axel: But you're wrong that Trump got more voters because more business people voted for him.

[13:28] Gemma (gemma.cleanslate): base followers

[13:28] CB Axel: The already voted for him the first time.

[13:28] .: Beertje :. (beertje.beaumont): but if he lies about everything, when can one trust him?

[13:28] Gemma (gemma.cleanslate): his followers dont care!!!

[13:28] Gemma (gemma.cleanslate): they really dont

[13:28] herman Bergson: I just quoted the journalist, Gemma ˆ_ˆ

[13:29] Gemma (gemma.cleanslate): or some honestly believe his words

[13:29] Gemma (gemma.cleanslate): which is worse

[13:29] Particle Physicist Bejiita (bejiita.imako): i bet they would vote for him even if they knw he would have started WW3 and we then all would  die in a rain of nukes

[13:29] Particle Physicist Bejiita (bejiita.imako): short term thinking

[13:29] CB Axel: His less educated voters don't think he's lying. The more educated ones voted for him because he cut their taxes.

[13:29] Particle Physicist Bejiita (bejiita.imako): as long wallet gets bigger NOPW

[13:29] Particle Physicist Bejiita (bejiita.imako): NOW

[13:29] herman Bergson: I guess that must have been the case CB

[13:29] Gemma (gemma.cleanslate): he is going to hang around for the next decade

[13:30] Particle Physicist Bejiita (bejiita.imako): luckily mr T have not done anything close to starting wars

[13:30] .: Beertje :. (beertje.beaumont): i heard he will atack Iran the coming time...

[13:30] herman Bergson: But keep in mind....

[13:30] Particle Physicist Bejiita (bejiita.imako): indeed he have threathed to do it

[13:30] Gemma (gemma.cleanslate): he wanted to destroy one plant

[13:30] herman Bergson: our main subject here is Adam Smith....and the fact that his views still are rather up to date 2020

[13:30] Quistis Hoorenbeek (quistis.shippe) is offline.

[13:30] Dien (djdien.bailey) is offline.

[13:31] Gemma (gemma.cleanslate): yep i belive that

[13:31] CB Axel: Beertje, he said he would, but all his advisors are telling him not to.

[13:31] Particle Physicist Bejiita (bejiita.imako): i guess so indeed Herman

[13:31] Gemma (gemma.cleanslate): righ

[13:31] .: Beertje :. (beertje.beaumont): will he listen?

[13:31] Gemma (gemma.cleanslate): ad his generals

[13:31] Gemma (gemma.cleanslate): thinks they might

[13:31] CB Axel: I agree, Herman. I just don't think that is what turned out more Trump voters this year.

[13:32] Gemma (gemma.cleanslate): some of it is cb

[13:32] Gemma (gemma.cleanslate): amazing turnout on both sides

[13:32] Particle Physicist Bejiita (bejiita.imako): luckily the right side still won with good margin

[13:32] herman Bergson: yes....amazing....

[13:32] CB Axel: Right, but the Adam Smith's of the US already voted for him the first time. I don't think more of them turned out this year.

[13:33] Particle Physicist Bejiita (bejiita.imako): because in total MANY more voted this time, because they wanted to get rid of Trump

[13:33] herman Bergson: that 5 million extra for Biden......

[13:33] CB Axel: In fact, some, like in The Lincoln Project, turned against him.

[13:33] Gemma (gemma.cleanslate): close to 6 than five

[13:33] Gemma (gemma.cleanslate): 5.6

[13:33] Gemma (gemma.cleanslate): or 7

[13:33] herman Bergson: amazing

[13:33] CB Axel: Rich people vote every election. Poorer people don't.

[13:34] .: Beertje :. (beertje.beaumont): why is that CB?

[13:34] iמʞαʞů (inkaku.capalini) is offline.

[13:34] herman Bergson: At least it tells us that people are involved  and not uninterested

[13:34] Gemma (gemma.cleanslate): well thinks it is more educated than poor

[13:34] .: Beertje :. (beertje.beaumont): so education is very important

[13:35] Gemma (gemma.cleanslate): yes

[13:35] iמʞαʞů (inkaku.capalini) is online.

[13:35] Particle Physicist Bejiita (bejiita.imako): but then T would have won. now there were so many seeing a big problem with trump and that it was very important to kick him out or really bad things would happen

[13:35] CB Axel: Poor people have more obstacles to voting. They don't think their voices count. They just don't bother. Many reasons.

[13:35] Gemma (gemma.cleanslate): right

[13:35] herman Bergson: That is what I say all the time, for years now.....only education can save this world

[13:35] Particle Physicist Bejiita (bejiita.imako): that total number of voters shot up like never before

[13:35] Particle Physicist Bejiita (bejiita.imako): and this biden could win

[13:35] Particle Physicist Bejiita (bejiita.imako): cause people cared

[13:36] Particle Physicist Bejiita (bejiita.imako): indeed Herman

[13:36] Gemma (gemma.cleanslate): some places had concerted efforts for the past two years to educate those and they succeeded

[13:36] Gemma (gemma.cleanslate): like in Georgia

[13:37] Particle Physicist Bejiita (bejiita.imako):

[13:37] herman Bergson: Well...I assume that you are a little more educated now that 30 minutes before :-)

[13:37] Gemma (gemma.cleanslate): made them see the reasons to vote this time

[13:37] .: Beertje :. (beertje.beaumont): and Biden won in Georgia

[13:37] CB Axel: Stacy Abrams worked really hard in Georgia to get more people to vote, and it helped a lot. :)

[13:37] .: Beertje :. (beertje.beaumont): yes I saw her on tv

[13:37] .: Beertje :. (beertje.beaumont): strong woman

[13:37] herman Bergson: I learned too....great person

[13:38] Gemma (gemma.cleanslate): andn it shows in somet statees where representatives won their seats and trump did not get that vote

[13:38] CB Axel: Wow! She's getting seen in the Netherlands? Cool!!

[13:38] Gemma (gemma.cleanslate): Republicans did vote against trump

[13:38] .: Beertje :. (beertje.beaumont): CNN

[13:38] .: Beertje :. (beertje.beaumont):

[13:38] Particle Physicist Bejiita (bejiita.imako): aaa thats great

[13:38] Gemma (gemma.cleanslate): seenn all over the world

[13:38] herman Bergson: Oh yes...I have seen her too

[13:38] Gemma (gemma.cleanslate): hope they get back to world news soon sigh

[13:38] Gemma (gemma.cleanslate): hee

[13:38] Gemma (gemma.cleanslate): here

[13:38] CB Axel: You're right, Gemma. I was amazed at how the congressional races played out.

[13:38] Gemma (gemma.cleanslate): it is trump 24/7

[13:39] .: Beertje :. (beertje.beaumont): it's stil all about Trump

[13:39] Gemma (gemma.cleanslate): yep

[13:39] Gemma (gemma.cleanslate): i have to go to Reuters and NPR to get world news

[13:39] Particle Physicist Bejiita (bejiita.imako): well the only world news today is about corona so

[13:39] Gemma (gemma.cleanslate): unless it is a real catastrophe

[13:39] Gemma (gemma.cleanslate): BBC also

[13:39] CB Axel: I go to NPR and Trevor Noah. :)

[13:40] herman Bergson smiles

[13:40] herman Bergson: I like Trevor :-)

[13:40] Gemma (gemma.cleanslate) GIGGLES!!

[13:40] Gemma (gemma.cleanslate): ...LOL...

[13:40] Gemma (gemma.cleanslate): yep

[13:40] CB Axel: Also Crooked Media.

[13:40] Gemma (gemma.cleanslate): dont know that

[13:40] Gemma (gemma.cleanslate): will look it up

[13:40] CB Axel: Please do.

[13:40] CB Axel: I listen to 3 of their podcasts. :)

[13:41] herman Bergson: I often watch Ring of Fire....

[13:41] CB Axel: I'm not familiar with Ring of Fire.

[13:41] .: Beertje :. (beertje.beaumont):

[13:41] Gemma (gemma.cleanslate): can you imagine after two weeks he still wont give in

[13:41] Gemma (gemma.cleanslate): ♥ Thank Youuuuuuuuuu!! ♥

[13:42] herman Bergson: Is on Youtube...guy from California....left wing zealot :-)

[13:42] Particle Physicist Bejiita (bejiita.imako): indeed Gemma

[13:42] .: Beertje :. (beertje.beaumont): will he ever Gemma?

[13:42] CB Axel: I'll look for him, Herman. Thanks.

[13:42] herman Bergson: He is funny in the sense that he is so angry about everything :-)

[13:42] Gemma (gemma.cleanslate): eventually

[13:42] Gemma (gemma.cleanslate): he will have to

[13:42] Particle Physicist Bejiita (bejiita.imako): T is a cranky gigant baby wailing in his sandbox

[13:42] Gemma (gemma.cleanslate): imagine him  being evicted

[13:43] Gemma (gemma.cleanslate): omg

[13:43] Gemma (gemma.cleanslate): OMG!!!

[13:43] Particle Physicist Bejiita (bejiita.imako): throwing mud around

[13:43] .: Beertje :. (beertje.beaumont): he will leave through the back door:)

[13:43] Gemma (gemma.cleanslate): he might

[13:43] .: Beertje :. (beertje.beaumont): washing his orange off

[13:43] Gemma (gemma.cleanslate): never!!!!!!!!

[13:43] .: Beertje :. (beertje.beaumont): lol

[13:43] CB Axel: I hope he walks out the back door of the White House and into a police car.

[13:43] Particle Physicist Bejiita (bejiita.imako): (sees trumps in diapers being pulled by his feet out of white house by SS while wailng all he can)

[13:43] herman Bergson: lol

[13:43] Gemma (gemma.cleanslate): no that will come later

[13:43] .: Beertje :. (beertje.beaumont): yes, that's were he belongs

[13:44] herman Bergson whispers: They'll be waiting for him, CB :_)

[13:44] Particle Physicist Bejiita (bejiita.imako): I DONT WANNA GO I DONT WANNA WAAAAH WAHHH!

[13:44] .: Beertje :. (beertje.beaumont): what about Melania?

[13:44] Gemma (gemma.cleanslate): the investigators will get him but it will be a long long while

[13:44] herman Bergson: Well...

[13:44] .: Beertje :. (beertje.beaumont): what will she do?

[13:44] CB Axel: He should have been in jail back in the '80's.

[13:44] Gemma (gemma.cleanslate): go with him

[13:44] herman Bergson: We are far enough off topic to end our discussion :-)

[13:44] Gemma (gemma.cleanslate): tthat is true cb

[13:44] Gemma (gemma.cleanslate) GIGGLES!!

[13:44] Gemma (gemma.cleanslate): ...LOL...

[13:44] Gemma (gemma.cleanslate): well

[13:44] herman Bergson: SO...thank you all again..

[13:44] Particle Physicist Bejiita (bejiita.imako): well as i get ist he has bribed and bluffed his way through

[13:45] Particle Physicist Bejiita (bejiita.imako): all time

[13:45] herman Bergson: Class dismissed

[13:45] Gemma (gemma.cleanslate): Adam would be scared of him

[13:45] Particle Physicist Bejiita (bejiita.imako): i did not hear about him before he candidated for president though

[13:45] CB Axel: Melania made her bed. Now she must lie in it. Alone.

[13:45] Gemma (gemma.cleanslate): oh wow he was wel well known

[13:45] CB Axel: Thank you, Herman.

[13:45] Gemma (gemma.cleanslate): way back

[13:45] Particle Physicist Bejiita (bejiita.imako): ans i immediatley though, lick him up in a padded cell!

[13:45] Particle Physicist Bejiita (bejiita.imako): lock

[13:45] Gemma (gemma.cleanslate): ♥ Thank Youuuuuuuuuu!! ♥ 

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