#economic opportunity

[dreaminginthedeepsouth]

deAdder

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LETTERS FROM AN AMERICAN

August 11, 2024

Heather Cox Richardson

Aug 12, 2024

Vice President Kamala Harris’s choice of Minnesota governor Tim Walz to be her running mate seems to cement the emergence of a new Democratic Party.

When he took office in January 2021, President Joe Biden was clear that he intended to launch a new era in America, overturning the neoliberalism of the previous forty years and replacing it with a proven system in which the government would work to protect the ability of ordinary Americans to prosper. Neoliberalism relied on markets to shape society, and its supporters promised it would be so much more efficient than government regulation that it would create a booming economy that would help everyone. Instead, the slashing of government regulation and social safety systems had enabled the rise of wealthy oligarchs in the U.S. and around the globe. Those oligarchs, in turn, dominated poor populations, whose members looked at the concentration of wealth and power in the hands of a few people and gave up on democracy. 

Biden recognized that defending democracy in the United States, and thus abroad, required defending economic fairness. He reached back to the precedent set by Democratic president Franklin Delano Roosevelt in 1933 and followed by presidents of both parties from then until Ronald Reagan took office in 1981. Biden’s speeches often come back to a promise to help the parents who “have lain awake at night staring at the ceiling, wondering how they will make rent, send their kids to college, retire, or pay for medication.” He vowed “to finally rebuild a strong middle class and grow our economy from the middle out and bottom up, giving hardworking families across the country a little more breathing room.” 

Like his predecessors, he set out to invest in ordinary Americans. Under his administration, Democrats passed landmark legislation like the American Rescue Plan that rebuilt the economy after the devastating effects of the coronavirus pandemic; the Bipartisan Infrastructure Law that is rebuilding our roads, bridges, ports, and airports, as well as investing in rural broadband; the CHIPS and Science Act that rebuilt American manufacturing at the same time it invested in scientific research; and the Inflation Reduction Act, which, among other things, invested in addressing climate change. Under his direction, the government worked to stop or break up monopolies and to protect the rights of workers and consumers.

Like the policies of that earlier era, his economic policies were based on the idea that making sure ordinary people made decent wages and were protected from predatory employers and industrialists would create a powerful engine for the economy. The system had worked in the past, and it sure worked during the Biden administration, which saw the United States economy grow faster in the wake of the pandemic than that of any other developed economy. Under Biden, the economy added almost 16 million jobs, wages rose faster than inflation, and workers saw record low unemployment rates.

While Biden worked hard to make his administration reflect the demographics of the nation, tapping more women than men as advisors and nominating more Black women and racial minorities to federal judicial positions than any previous president, it was Vice President Kamala Harris who emphasized the right of all Americans to be treated equally before the law. 

She was the first member of the administration to travel to Tennessee in support of the Tennessee Three after the Republican-dominated state legislature expelled two Black Democratic lawmakers for protesting in favor of gun safety legislation and failed by a single vote to expel their white colleague. She has highlighted the vital work historically Black colleges and universities have done for their students and for the United States. And she has criss-crossed the country to support women’s rights, especially the right to reproductive healthcare, in the two years since the Supreme Court, packed with religious extremists by Trump, overturned the 1973 Roe v. Wade decision.

To the forming Democratic coalition, Harris brought an emphasis on equal rights before the law that drew from the civil rights movements that stretched throughout our history and flowered after 1950. Harris has told the story of how her parents, Dr. Shyamala Gopalan, who hailed from India, and Donald J. Harris, from Jamaica, met as graduate students at the University of California, Berkeley and bonded over a shared interest in civil rights. “My parents marched and shouted in the Civil Rights Movement of the 1960s,” Harris wrote in 2020. “It’s because of them and the folks who also took to the streets to fight for justice that I am where I am.”

To these traditionally Democratic mindsets, Governor Walz brings something quite different: midwestern Progressivism. Walz is a leader in the Minnesota Democratic-Farmer-Labor Party, which formed after World War II, but the reform impulse in the Midwest reaches all the way back to the years immediately after the Civil War and in its origins is associated with the Republican, rather than the Democratic, Party. While Biden’s approach to government focuses on economic justice and Harris’s focuses on individual rights, Walz’s focuses on the government’s responsibility to protect communities from extremists. That stance sweeps in economic fairness and individual rights but extends beyond them to recall an older vision of the nature of government itself.

The Republican Party’s roots were in the Midwest, where ordinary people were determined to stop wealthy southern oligarchs from taking over control of the United States government. That determination continued after the war when people in the Midwest were horrified to see industrial leaders step into the place that wealthy enslavers had held before the war. Their opposition was based not in economics alone, but rather in their larger worldview. And because they were Republicans by heritage, they constructed their opposition to the rise of industrial oligarchs as a more expansive vision of democracy. 

In the early 1870s the Granger movement, based in an organization originally formed by Oliver H. Kelley of Minnesota and other officials in the Department of Agriculture to combat the isolation of farm life, began to organize farmers against the railroad monopolies that were sucking farmers’ profits. The Grangers called for the government to work for communities rather than the railroad barons, demanding business regulation. In the 1870s, Minnesota, Iowa, Wisconsin, and Illinois passed the so-called Granger Laws, which regulated railroads and grain elevator operators. (When such a measure was proposed in California, railroad baron Leland Stanford called it “pure communism” and hired former Republican congressman Roscoe Conkling to fight it by arguing that corporations were “persons” under the Fourteenth Amendment.)

Robert La Follette grew up on a farm near Madison, Wisconsin, during the early days of the Grangers and absorbed their concern that rich men were taking over the nation and undermining democracy. One of his mentors warned: “Money is taking the field as an organized power. Which shall rule—wealth or man; which shall lead—money or intellect; who shall fill public stations—educated and patriotic free men, or the feudal serfs of corporate capital?” 

In the wake of the Civil War, La Follette could not embrace the Democrats. Instead, he and people like him brought this approach to government to a Republican Party that at the time was dominated by industrialists. Wisconsin voters sent La Follette to Congress in 1884 when he was just 29, and when party bosses dumped him in 1890, he turned directly to the people, demanding they take the state back from the party machine. They elected him governor in 1900.

As governor, La Follette advanced what became known as the “Wisconsin Idea,” adopted and advanced by Republican President Theodore Roosevelt. As Roosevelt noted in a book explaining the system, Wisconsin was “literally a laboratory for wise experimental legislation aiming to secure the social and political betterment of the people as a whole.” La Follette called on professors from the University of Wisconsin, state legislators, and state officials to craft measures to meet the needs of the state’s people. “All through the Union we need to learn the Wisconsin lesson,” Roosevelt wrote.

In the late twentieth century, the Republican Party had moved far away from Roosevelt when it embraced neoliberalism. As it did so, Republicans ditched the Wisconsin Idea: Wisconsin governor Scott Walker tried to do so explicitly by changing the mission of the University of Wisconsin system from a “search for truth” to “improve the human condition” to a demand that the university “meet the state’s workforce needs.” 

While Republicans abandoned the party’s foundational principles, Democratic governors have been governing on them. Now vice-presidential nominee Walz demonstrates that those community principles are joining the Democrats’ commitment to economic fairness and civil rights to create a new, national program for democracy. 

It certainly seems like the birth of a new era in American history. At a Harris-Walz rally in Arizona on Friday, Mayor John Giles of Mesa, Arizona, who describes himself as a lifelong Republican, said: “I do not recognize my party. The Republican Party has been taken over by extremists that are committed to forcing people in the center of the political spectrum out of the party. I have something to say to those of us who are in the political middle: You don’t owe a damn thing to that political party…. [Y]ou don’t owe anything to a party that is out of touch and is hell-bent on taking our country backward. And by all means, you owe no displaced loyalty to a candidate that is morally and ethically bankrupt…. [I]n the spirit of the great Senator John McCain, please join me in putting country over party and stopping Donald Trump, and protecting the rule of law, protecting our Constitution, and protecting the democracy of this great country. That is why I’m standing with Vice President Harris and Governor Walz.”

Vice President Harris put it differently. Speaking to a United Auto Workers local in Wayne, Michigan, on Thursday, she explained what she and Walz have in common. 

 “A whole lot,” she said. “You know, we grew up the same way. We grew up in a community of people, you know—I mean, he grew up… in Nebraska; me, Oakland, California—seemingly worlds apart. But the same people raised us: good people; hard-working people; people who had pride in their hard work; you know, people who had pride in knowing that we were a community of people who looked out for each other—you know, raised by a community of folks who understood that the true measure of the strength of a leader is not based on who you beat down. It’s based on who you lift up.”

—

LETTERS FROM AN AMERICAN

HEATHER COX RICHARDSON

[consuetudinari0]

The Legacy of Manifest Destiny in American History

Manifest Destiny: The Birth of American Expansionism The term Manifest Destiny first appeared in the July-August 1845 issue of the Democratic Review, in an article titled Annexation by journalist John L. O’Sullivan. It was a concept that came to define a crucial moment in American history, encapsulating the nation’s drive for expansion. O’Sullivan argued that it was the United States’ “manifest…

[kinialohaguy]

No Tax On Tips

Aloha kākou. Follow me back through the Wayback machine with Mr. Peabody and Sherman. It’s the year 2020 just a few months before the reelection of President Trump. When Pedo-Hitler Biden and the Marxist democrats rigged the election. Queue Intro: Back in 2020, when the Covid Scamdemic first broke out, the painful decision to shut down the country, indeed the world, for two weeks to flatten the…

[nationwidechildrenshospital]

"My favorite part about working with the financial program for teens is the opportunity to influence the financial trajectory of an entire generation. Educating teens on topics I had little to no knowledge about at their age is incredibly rewarding and feels like a full circle moment for me."

Dee Ballantine, Program Coordinator, Economic Opportunity, Community Wellness

[chronically-ghosted]

day before a 5 day holiday weekend. office empty. got me thinking thoughts.

[unknown-art1]

Bebe and Kanji had to be kept in two separate games because they would’ve been unstoppable boyfriends/bestfriends otherwise.

[bloodpen-to-paper]

I'm realizing now how reasonable the economics and paywall system might seem from the Koreans' perspective in comparison to our older members. Acau and Jungryeok from what I know play a lot of vanilla, where something like the warpstone system isn't even available. The fact that it exists here is already a huge buff, so having to work for it doesn't take away from that. The members who had it for free before feel cheated, but the new members see a reasonable opportunity they haven't had before

[kittykatninja321]

Bruce Wayne 🤝 Jason Todd

Crime Alley killed their parents

[omegaphilosophia]

Balancing Wealth in Society: The Case for a Floor for the Poor and a Ceiling for the Rich

The idea that society should provide a "floor" for the poor and a "ceiling" for the rich stems from concerns around fairness, opportunity, and social stability. Here’s an outline of the reasoning:

1. Ensuring Basic Human Dignity and Opportunity for All (The Floor)

Basic Needs and Security: Establishing a minimum standard of living (e.g., housing, healthcare, education) ensures that everyone can live with dignity. It aims to prevent poverty from being a barrier to personal development and societal contribution.

Equal Opportunity: A social "floor" supports the idea that everyone should have a fair shot at success, regardless of birth circumstances. If people can access education, healthcare, and stable living conditions, they are better positioned to participate in society and the economy.

Economic Productivity: A healthier, better-educated population can contribute more effectively to the economy. Reducing extreme poverty is not only a moral issue but also an investment in human capital that benefits society as a whole.

2. Preventing Excessive Wealth Concentration (The Ceiling)

Power Imbalance and Democracy: When wealth accumulates excessively at the top, it often leads to disproportionate influence in politics, the economy, and media. A "ceiling" helps limit the risk of oligarchy, where a small elite may control policies in ways that benefit themselves over the broader population.

Resource Distribution and Social Cohesion: Concentrated wealth often translates into concentrated resources, such as land, labor, and technology, which can create economic inefficiencies and inequality. A ceiling helps redistribute resources to create a more balanced society, reducing tensions and potential social unrest.

Encouraging Social Responsibility: When wealth accumulation has an upper limit, it encourages the wealthy to focus on the broader impact of their success. This can promote reinvestment into society, philanthropy, and sustainable business practices rather than endless personal wealth expansion.

3. Reducing Economic Inefficiencies and Promoting Innovation

Promoting Circulation of Wealth: Wealth ceilings can lead to increased investment in public goods, infrastructure, and innovation. When excess wealth is capped, more resources may go into sectors that support public benefit rather than just individual enrichment.

Incentivizing Innovation Over Rent-Seeking: With a wealth ceiling, economic success would ideally shift focus from mere wealth accumulation to creative, impactful, and innovative contributions. This encourages businesses and individuals to prioritize improvements that benefit broader society.

A "floor" and "ceiling" model aims to strike a balance between ensuring that everyone has a fair chance to succeed and preventing the negative consequences of excessive wealth concentration. In this framework, everyone is better positioned to contribute meaningfully to society, fostering a more equitable, stable, and dynamic community.

[kramlabs]

[firefighter-diazbuckley]

yk it’s bad enough that we could say that the erie canal was influential in starting the civil war but i truly believe you could make the argument that it also led to the great migration

[narrative-theory]

Iran's Reformist President – Scott Ritter

[nationwidechildrenshospital]

"The most rewarding part of the Nationwide Children's Hospital tax clinic program is working directly with families across central Ohio and being able to provide a great service for free. I love to see the excitement expressed on our clients faces as I review their tax return and refund amounts. It is equally as rewarding helping community members work through unique challenges on their tax return and providing them education that will help on future tax returns."

Samuel Ricks, Economic Opportunity Project Manager, Wellness Initiatives

[inbred-mothman]

Hey guys just a little note: if you use AI art in any way shape or form, you can go ahead and block me. And if I see anyone I interact with using it, I'll block them immediately as well, there's no reason you should have to steal our jobs just because you "wanted art"... that's why we are here. That's why artists exist. There are countless artists who would die to get commissioned (me included) by ANYONE. But you have to go and show your fucking GREED by stealing our work. It is STEALING. by using AI generated images as a replacement for art you are putting artists as a whole at risk. I'm disappointed in some of the fandoms I'm in because of this. I thought we were better than that.

TLDR:

DNI if you use AI generated images

[hussyknee]

Why is my stupid idiot brain sunk to the very bottom of the sea bed like whale fall. I'm on extra strength medication, I'm staying off social media, I'm surrounded by kittens. And yet. My anxiety has turned into full blown agoraphobia and I'm so depressed that getting out of bed is a feat I only achieve because my cats need feeding.

It's been almost seventeen years of being bipolar but I still can't internalise that mood disorders are actual illnesses that disable and debilitate as much as any physical disease. Clearly the only thing wrong with me is that I'm not trying hard enough to crawl out of this. If I really wanted to get better I'd fight through my anxiety and back pain and sensory hell and do stuff like go to therapy, eat healthy, exercise and get a job.

To make matters worse, my brain keeps hollering that I'm 37 this year and no closer to joining the rest of the job-having, rent-paying, independent adult world. The fact that I've been in a consistently worsening mental health crisis since 2020 to the point that I was in greater danger than I've ever been of committing suicide the first six months of last year is clearly irrelevant. Somehow.

Tbh, if it wasn't for my rescue kittens, I'd be regretting that I didn't just go through with it. Not enough to go through with it now, but regretting it all the same. But I do have my kitties so I can't regret it. Instead, I'm just resigning myself to the fact that having something to live for, even when I don't want to, is the best I'll ever get.

[foxnangelseo]

India: The Next Big Investment Hub

In the ever-evolving global economic landscape, India has emerged as a prominent investment hub, drawing significant attention from businesses and investors worldwide. Its rapid economic growth, vast market potential, and strategic initiatives make it an attractive destination for investment. Here’s a detailed exploration of why India is poised to be the next big investment hub, elaborating on key factors that contribute to its burgeoning status.

1. Rapid Economic Growth

India’s economic growth over the past decade has been nothing short of remarkable. The country has consistently showcased impressive economic performance, even amidst global economic uncertainties. According to the International Monetary Fund (IMF), India is projected to be one of the fastest-growing major economies in the coming years. This growth is driven by several factors, including:

- Strong GDP Growth: India’s GDP growth rate has consistently outpaced many developed nations, reflecting a robust economic expansion. With a large and diverse economy, India’s growth is supported by various sectors, including services, manufacturing, and agriculture.

- Urbanization and Industrialization: Rapid urbanization and industrialization are key drivers of economic growth. As more people move to urban areas, there is an increased demand for infrastructure, housing, and services, further fueling economic expansion.

- Resilience and Reform: India’s economic resilience has been bolstered by ongoing reforms aimed at improving the business environment. These reforms have helped stabilize the economy and create a more attractive investment climate.

2. Large Market Size

India’s population, exceeding 1.4 billion people, presents a massive consumer market with vast potential. This demographic advantage translates into several opportunities for businesses:

- Diverse Consumer Segments: The large population means a diverse range of consumer segments, each with unique needs and preferences. From luxury goods to essential products, businesses can cater to a wide variety of markets.

- Growing Middle Class: The expanding middle class is driving demand for a broader range of products and services. As disposable incomes rise, there is an increased appetite for higher-quality goods, leading to new business opportunities.

- Consumer Spending Trends: Rising consumer spending is evident in sectors such as retail, technology, and entertainment. E-commerce, in particular, has seen explosive growth, with a surge in online shopping and digital transactions.

3. Young and Tech-Savvy Workforce

One of India’s most significant assets is its young and increasingly educated workforce. The country is making substantial investments in education and skill development, creating a pool of talent that is poised to drive innovation and support various industries:

- Educational Advancements: India places a strong emphasis on STEM (Science, Technology, Engineering, and Mathematics) education. This focus is producing a generation of skilled professionals who are equipped to meet the demands of a rapidly changing job market.

- Tech-Savvy Talent: India is renowned for its technology sector, with a large number of IT professionals and tech entrepreneurs. The country’s tech-savvy workforce is well-positioned to support growth in sectors such as information technology, digital services, and artificial intelligence.

- Innovation and Entrepreneurship: The young population is also driving innovation and entrepreneurship. With a growing number of start-ups and tech ventures, India is fostering a culture of creativity and technological advancement.

4. Government Reforms

The Indian government has implemented several key reforms to enhance the business environment and attract foreign investment. These reforms aim to simplify regulations, promote investment, and support entrepreneurship:

- Make in India: Launched in 2014, the Make in India initiative seeks to transform India into a global manufacturing hub. The program aims to boost the manufacturing sector by improving infrastructure, streamlining regulations, and incentivizing investment.

- Digital India: The Digital India initiative focuses on expanding digital infrastructure, promoting digital literacy, and increasing access to digital services. By fostering a digitally empowered society, this program aims to drive economic growth and improve government services.

- Startup India: This initiative supports start-ups by offering various benefits, including tax exemptions, simplified regulations, and access to funding. The program aims to create a conducive environment for entrepreneurship and innovation.

5. Investment in Infrastructure

Significant investments are being made in infrastructure development across India, which is crucial for enhancing connectivity and supporting economic growth:

- National Infrastructure Pipeline: The National Infrastructure Pipeline is an ambitious plan to invest over $1.4 trillion in infrastructure projects, including transportation, energy, and urban development. This initiative aims to improve infrastructure quality and support economic growth.

- Smart Cities Mission: The Smart Cities Mission focuses on developing 100 smart cities across India, incorporating advanced technology and infrastructure to enhance the quality of urban life. These smart cities are expected to attract investment and drive economic development.

- Transportation and Logistics: Investments in transportation infrastructure, including highways, ports, and airports, are designed to improve logistics efficiency and reduce costs for businesses. Enhanced connectivity facilitates smoother operations and supports regional trade.

6. Growing Consumer Market

India’s growing consumer market is a major attraction for investors. The increase in disposable incomes and changing consumer preferences are driving demand across various sectors:

- Retail Sector: The retail sector in India is experiencing rapid growth, with both organized retail and e-commerce expanding significantly. The rise of online shopping and digital payment systems is reshaping the retail landscape.

- Automotive Industry: The automotive industry is also seeing robust growth, driven by rising incomes and increasing vehicle ownership. India is becoming a key market for both domestic and international automotive manufacturers.

- Healthcare and Education: With a growing focus on health and education, there is an increasing demand for healthcare services, medical technology, and educational resources. Investment in these sectors presents significant opportunities for growth.

7. Thriving Start-Up Ecosystem

India’s start-up ecosystem has gained considerable momentum, making it a hotspot for innovation and entrepreneurship:

- Venture Capital Investment: India has attracted substantial venture capital and private equity investment, supporting the growth of start-ups and fostering a culture of innovation.

- Incubators and Accelerators: The proliferation of incubators, accelerators, and co-working spaces provides start-ups with essential resources and support. These platforms help entrepreneurs develop their ideas and scale their businesses.

- Tech Innovation: The start-up ecosystem is characterized by rapid technological innovation, with new ventures emerging in sectors such as fintech, healthtech, and edtech. This innovation ecosystem contributes to India’s growing prominence as a tech hub.

8. Strategic Location

India’s geographic location enhances its role as a strategic hub for trade and investment in the Asia-Pacific region:

- Regional Trade Networks: India’s location provides access to key emerging markets in Southeast Asia, facilitating regional trade and investment opportunities.

- Global Supply Chains: India is becoming an integral part of global supply chains, with its strategic location supporting cross-border commerce and international trade.

- Economic Partnerships: India’s participation in regional economic partnerships, such as the Regional Comprehensive Economic Partnership (RCEP), further strengthens its position as a key player in the Asia-Pacific region.

9. Favorable Demographics

India’s demographic profile offers several advantages for economic growth and investment:

- Demographic Dividend: With a large proportion of the population in the working age group, India benefits from a demographic dividend that supports economic growth and productivity.

- Urban Population Growth: The continued growth of urban areas creates opportunities for investment in infrastructure, housing, and services, driving economic development.

- Consumer Trends: The diverse and growing population leads to varied consumer preferences and trends, creating opportunities for businesses to cater to different market segments.

10. Improving Ease of Doing Business

India has made significant progress in improving the ease of doing business, making it more attractive for investors:

- Regulatory Reforms: The government has implemented reforms to simplify regulations, reduce bureaucratic hurdles, and enhance the overall business environment. These reforms contribute to a more predictable and efficient regulatory framework.

- Digital Transformation: The adoption of digital technologies and online platforms has streamlined various business processes, including registration, licensing, and compliance. This digital transformation facilitates smoother operations for businesses.

- Investment Climate: Ongoing efforts to enhance the investment climate include improving transparency, reducing corruption, and increasing government support for investors.

India’s emergence as a major investment hub is driven by a combination of factors, including its rapid economic growth, large market size, young and tech-savvy workforce, and strategic government reforms. Significant investments in infrastructure, a thriving start-up ecosystem, and a growing consumer market further enhance the country’s attractiveness as an investment destination.

While challenges such as regulatory complexity and infrastructure gaps exist, India’s strengths and ongoing efforts to improve the business environment make it a compelling destination for investors. For businesses seeking to expand their global footprint and FDI in India, Fox&Angel, a leading Global Expansion Partner that specializes in foreign direct investment in India can help you navigate the complexities of the Indian market and make right investment decisions.

This post was originally published on: Foxnangel