#nancymaclean — Public Fediverse posts

“By 1860, two of every three of the relatively few Americans whose wealth surpassed $100,000 lived below the Mason-Dixon Line. New York at that time had fewer millionaires per capita than Mississippi. South Carolina was the richest state in the Union. The source of southern wealth was staple crops—particularly cotton—produced by enslaved men, women, and children for world markets. So matchless were the profits that more money was invested in slaves than in industry and railroads.”
Excerpt From: Nancy MacLean. “Democracy in Chains.”
#NancyMacLean #DemocracyInChains

🧵
> Could it be that this relatively obscure economist’s distinctive thought was being put forcefully into action in real time?
> MacLean could not gain access to Buchanan’s papers to test her hypothesis until after his death in January 2013.
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#NancyMacLean on #JamesBuchanan

@Snowshadow @Jeramee

#USpol #Economics
#MAGAnomics #MustReads

(2/n)

...when right-wing economist, #Republican economics strategist, and later-day #NobelLaureate #JamesBuchanan founded what would later be known as the #VirginiaSchool.

#Duke historian #NancyMacLean, has written a fascinating, apparently well-researched book, #DemocracyInChains 2), about #Buchanan and his little publicized but effective machinations on #US international relations and #economic...

2)
https://www.ineteconomics.org/perspectives/blog/meet-the-economist-behind-the-one-percents-stealth-takeover-of-america