Slobodian Analyzes How MAGA is Leveraging Direct Economics
In his latest piece for The Financial Times, Prof. Quinn Slobodian of Pardee School deciphered how MAGA is employing direct economics to bypass the status quo and gain the approval of the masses. According to Slobodian, the effect of direct economics has manifested in three distinctive ways under Donald Trump’s government.
First, Trump centralizing his executive control in integral tariff decisions. Considered to be a critical oversight by many, in the context of direct economics, the arbitrariness of Trump’s tariff policies is touted to be an advantage, demonstrating American dominance and presidential power on a global scale.
Second, cash transfers, i.e., the stimulus checks that were directly issued to people by the Trump administration during COVID-19. Slobodian commented that this strategic move asserted the state isn’t obliged to function through the traditional mediums of assistance such as the Social Security Administration or Medicare. Inspired by this trick, billionaire and Trump advocate, Musk recently handed out $1 million checks to two individuals supporting his choice of candidate in a Wisconsin election. The preferred candidate ultimately lost, signalling the scheme didn’t do anything to further Musk’s cause.
Finally, the search for gold. Slobodian explained that a certain group of people believe that the U.S. government has been hoarding this precious metal since the Roosevelt administration. Musk, in particular, has grown interested in this subject, and even invited Ron Paul to join DOGE. Paul is a Republican Texas representative who has vehemently campaigned for an audit of the gold reserves at Fort Knox.
Direct economics, unsurprisingly, hasn’t done much for the conventional markets. Slobodian deduced only time will tell how this page from the MAGA playbook fares. To read Prof. Slobodian’s complete article, click here.
Quinn Slobodian is a Professor of International History at Frederick S. Pardee School of Global Studies and a prolific author and editor. For his previous publication Globalists: The End of Empire and the Birth of Neoliberalism, Slobodian was honored with the American Historical Association’s George Louis Beer Prize. The professor’s new book Hayek’s Bastards: Race, Gold, IQ and the Capitalism of the Far Right is slated to release soon. To learn more about Prof. Slobodian’s work and achievements, visit his faculty profile.