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Wednesday, 16 May 2012

Astounding Idea from Bloomberg Editorial-The Religious Right Helped American Investments Compared to Other Places--the Result of Roe v. Wade



I am not going to quote the entire article and here is the link, but an interesting and credible take on the horror of Roe v. Wade as organizing the Christian Right in the States has led this author to an interesting conclusion. I think this is worthy of debate and comment. One must not fall into cynicism, but Roe v. Wade took many of us by surprise and many Catholics were, well, sleeping politically. One may or may not agree with Edward Conard, but the ideas are stimulating and may point to what needs to happen in November, 2012--the marriage of convenience noted here. Of course, those of us who pay attention must add to this argument that the Democratic Party, since the 1999 platform, has officially been the party of death-pro-abortion and women's reproductive rights. Just look online at the platform and follow the history.

Why does the U.S. have lower labor redeployment costs, more open trade borders, lower marginal tax rates and, ultimately, more tolerance for unequal distribution of income?
By the random dint of history, the landmark Supreme Court case Roe v. Wade of 1973 brought pro-investment voters to power in the U.S. The faction of pro-investment voters, representing about 35 percent of the electorate, combined with enough of the now-mobilized social conservatives -- principally the members of the Christian Right, who vote Republican and represent 15 percent of the electorate -- to seize the majority and permanently shift the political economic center to the right.
A similar shift in political power didn’t occur in Europe and Japan, and pro-labor, anti-investment majorities continued to control those economies. These majorities increased labor- redeployment costs and closed trade borders to slow the need for redeploying labor; supported unionism by strengthening trade barriers; failed to lower marginal tax rates as much as the U.S.; and discouraged unequal distribution of income and wealth.
The U.S. differs from Europe and Japan in four ways. Europe and Japan have parliamentary democracies where parties are represented in proportion to their share of the vote. In the U.S., it’s a winner takes all, two-party system and that makes it easier for a large minority of voters -- in this case, pro- investment tax cutters -- to join forces with another large minority of voters -- the Christian Right -- to seize power.
Roe might have had a minimal effect on U.S. politics were it not for the fact that Christian fundamentalists are a large enough portion of the country’s population to affect the outcome of an election. About 25 percent of U.S. voters identify themselves as evangelical Christians. Prior to Roe v. Wade, three-fifths of evangelical Christian voters were Democrats, and two-fifths were Republicans.

Reagan Embrace

When Ronald Reagan endorsed the pro-life movement, these proportions reversed. Reagan combined the Christian Right with the pro-investment tax cutters to create a majority. Pro- investment tax cutters maintained control of the party, selecting fiscally conservative, but socially moderate, presidential candidates such as John McCainGeorge W. Bush, Bob Dole,George H.W. Bush and Gerald Ford.
The fact that conservative Southern Democrats controlled political power throughout the southeastern U.S. amplified Roe’s political impact. As conservative pro-life voters defected to the Republican Party because of the ruling, it became increasingly difficult for fiscally conservative Southern Democrats to win elections as Democrats. Over time, these conservative Southern Democrats changed sides, gradually shifting political power to Republicans.
Most voters don’t realize that Roe does more than legalize abortion. It legalizes controversial third-trimester abortions in certain cases and takes away the electorate’s right to vote on this issue by making the late procedures a judicial right rather than a legislative decision. Third-term abortions are illegal throughout most of the democratic world. Their legalization by Roe, even if few women chose to have them, made opposition to the ruling more tolerable to pro-choice moderates.
The court’s denial of the electorate’s right to vote on an issue where both sides have legitimate points of view -- the majority of Americans opposes third-term abortions -- further increased the tolerance for opposition to Roe by pro-choice moderates. The denial of the other side’s right to vote -- because one fears the possible outcome of that vote -- is difficult for many to swallow when they acknowledge the reasonableness of the other side’s position.
The stance of pro-investment Republicans adds to this tolerance of pro-choice voters toward their position. Pro- investment Republicans oppose outlawing abortions by shrewdly arguing that the decision should be legislative, not judicial. Studies by the Pew Research Center show that more than half the voters support Roe, and only a quarter supports a ban on all abortions. If put to a vote, support among voters for first- and second-term abortions would assure legalization in all but a handful of states. If Roe remains as a judicial matter, it is far more likely that courts will outlaw abortions.........
Capturing an additional 10 percent to 15 percent of the electorate at the center likely demands at least a 10-point increase in the marginal tax rate -- probably significantly more. Ironically, the defection of these pro-investment tax cutters to the left increases the clout of social conservatives within the pro-investment coalition -- exactly the opposite of their objective.
This permanent shift in the center to the pro-investment right had a significant effect on U.S. economic policy. Americans remember the Reagan administration using its alliance with the Christian Right to cut marginal tax rates, tame inflation, and deregulate numerous industries, including trucking, telecommunications and airlines.
Less recognized is the administration’s profound effect on labor polices and private-sector unions. By deregulating industries and leaving trade borders open to international competition, Reagan put enormous pressure on heavily unionized industries, like trucking, airlines, steel and automobile manufacturing. He fired air-traffic controllers and replaced them with non-unionized workers, symbolically signaling to business leaders that he expected them to take a more aggressive stance toward unions. His ally, Margaret Thatcher, did the same thing in the U.K., enduring a long strike to weaken the coal miners’ union......
Democratic lawmakers and their public-union supporters recognize that consumers (voters) ultimately bear the increased cost of private-sector unions, closed trade borders, and the restriction on trade necessary to maintain them. They result in higher prices, slower growth, and less employment. Why would public-sector unions bite the hand that feeds them? Unlike private-sector unions, they have not pushed for these inefficiencies.


Also, update on Greek banks.....