It remains to be seen how Trump’s voters will feel about their choice in the years to come, but the basic incoherence of his world-view, along with the corporatist leaning of the Republican majority in Congress, could undermine any attempt to restore upward mobility.
There are fundamentally three forces driving our post-modern feudalization, all of them related. One is globalization, highlighted throughout the campaign, and clearly responsible for considerable job losses for certain classes and certain regions. As countries such as China and India move up the value-added chain, even higher-paid workers will face mounting economic competition. San Jose and Raleigh soon could feel some of the pain that Youngstown and Flint have absorbed for decades.
The second is immigration which, for all its many blessings, tends to depress wages for lower and middle workers. Many native-born Americans who used to enjoy steady work have joined the rapidly expanding, and economically vulnerable, precariat made up of contingent, irregularly employed workers. Both Bernie Sanders and Trump identified the problems faced by such workers by unrestricted immigration…
The third driver of feudalization lies in the concentration of business and property ownership. Lenin once identified “small scale production” as what “gives birth spontaneously to capitalism and the bourgeoisie.” America’s small firms are in retreat while large corporations increasingly dominate everything from food to technology. For the first time in our modern history, exits from business now exceed new incorporations.
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