US presidential elections: Biden and the American Left

The plutocrat-friendly “centrism” that has dominated American politics and both political parties for the last 40 years is not holding.

This policy has led to deep social and economic inequalities for which it has no credible solutions on offer.

For the left wing of the U.S. Democratic Party, this has been good news and bad news.

Note  EU-Digest: The US Democratic party needs to study the very successful German model of Social Democracy, which  is the way to go if you want to give everyone of the US electorate an equal bite of the US budget pie. 

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Biden and the American Left - The Globalist

Germany: Social market economy in Germany: growth and prosperity

The goal of the market economy is the greatest possible prosperity with the best possible social protection. It is about benefiting from the advantages of a free market economy, which include free choice of workplace, pricing freedom, competition and a wide range of affordable goods, while at the same time absorbing its disadvantages, such as monopolization, price fixing, and existence-threatening unemployment. This is why the state to a certain extent regulates the market and protects its citizens against illness and unemployment through a network of social insurance

Read more at:
https://www.deutschland.de/en/topic/business/social-market-economy-in-germany-growth-and-prosperity

The coronavirus, health inequality and social democracy – by Carol Johnson

The coronavirus may be indiscriminate but health inequality means that while all humans are vulnerable, some are more vulnerable than others.

Read more at:
https://www.socialeurope.eu/the-coronavirus-health-inequality-and-social-democracy

US Presidential Elections: Bernie Sanders: Tackling America’s Biggest "Rackets" - by Richard Phillips

Merriam-Webster defines a racket as “a usually illegitimate enterprise made workable by bribery or intimidation.” Certainly, enough rackets operate in the United States, but three stand head and shoulders above the rest.

Health care, education and finance are the three rackets that have particularly significant effects in distorting the U.S. economy.

It is not by coincidence that these three industries are also the targets that Presidential candidate Bernie Sanders is attacking head-on in his Presidential bid.

Important i8n Sanders’ racket-busting agenda is finance. There is little disagreement that the U.S. financial sector has been egregious in its stewardship of America’s finances.

The market capitalization of America’s banks accounts for 113% of its GDP, which is more than in any other developed country.

England and Switzerland, both of which serve as international financial centers, have ratios of 90% and 65% respectively. Germany and France, which are more domestically oriented, have ratios of 31% and 46%.

Clearly, these and other statistics underscore the overemphasis on finance in the U.S. economy. This is partly due to finance wages, which are typically well above national norms.

Read more: Bernie Sanders: Tackling America’s Biggest "Rackets" - The Globalist