Economic progressivism

Economic progressivism or fiscal progressivism is a

public goods.^[1] It is not to be confused with the more general idea of progress in relation to economic growth

Economic progressivism is based on the idea that

workers' rights and the rights of trade unions and a welfare state

The progressive economic philosophy is typically defined in opposition to

left-wing schools of socioeconomic thought. Economic progressivism can also be seen as a potential response to and treatment of social and economic problems such as affluenza, environmental racism, inverted totalitarianism, market fundamentalism, wage slavery, and "socialism for the rich and capitalism for the poor" as well as a counter-argument to the culture of capitalism, prosperity theology and rugged individualism

.

Overview

Economic progressivism is compounded with the larger political

postcolonial

nations in Africa and Asia developed a tradition of social welfare systems being implemented to aid the population develop across social and economic indices. The development of economic progressivism has been markedly different across different parts of the world.

In Europe

Progressive economic policies in Europe have a slightly longer history

progressive politics". In Britain, England and Wales had the English Poor Laws in place since the 16th century. The laws existed under various period undergoing several modifications until the 20th century, when the Liberal Party implemented several welfare reforms across the country. The Liberal welfare reforms from 1906 to 1914 strengthened labour laws and the position of trade unions, expanded education and introduced a pension system for the elderly, among other things. In Germany, chancellor Otto von Bismarck created the first comprehensive welfare state in modern industrial society. To curb the influence of socialism and to appease the working-class population, Bismarck employed State Socialism

and implemented a series of laws during the 1880s and 1890s. These included the Workers Protection Act, the Health Insurance Bill, the Accident Insurance Bill and the Old Age and Disability Insurance Bill, all designed to increase the welfare of the newly create German nation state.

Progressive economic policies in terms of the welfare state expanded significantly across Europe in the

privatisation

in the 1980s which continued throughout he 1990s.

The aftermath of the Great Recession saw the resurgence of a demand for a return to increased government expenditure. The anti-austerity movement that emerged during the Great Recession in Europe saw countries such as Greece, Spain and the United Kingdom.^{[clarification needed]} Like the Occupy Wall Street movement across the Atlantic, people started protesting government response to the financial meltdown which involved cutting down of government spending to manage budget deficits. This involved cutting spending on measures such as healthcare, education and other social welfare benefits.

In the United States

In the United States, the term

estate tax also introduced in 1897, first in the state of New York. By 1924, estates valued at more than $10 million were taxed a rate of 40%.^[5]

During the
free-market economics
came back into prominence in government policy. This period was characterised by increasing privatisation in industries, healthcare and education. It was also marked by a decrease in taxation of businesses and a decrease in government reliance of fiscal policy, with increasing use of monetary policy instead.
Progressive economics made a comeback to the forefront public discourse after the
Medicare for All) and free higher education, amongst others, also gained prominence across the country. Sanders, who ran for the Democratic presidential nomination in both the 2016 and 2020 presidential primaries, lost out to his rivals in securing the nomination. However, his policies have seen a rise in popularity and mainstream acceptance within the time period. Since then, many other politicians from the Democratic Party advocating progressive economic policies begun to gain prominence nationally. Among them are Senator Elizabeth Warren, who also sought to win the 2020 democratic presidential nomination, along with members of the Congressional Progressive Caucus. Even some in the Republican Party
have advocated for economic progressivism (but using populist and traditionalist rather than social justice rhetoric).

See also

Criticism of capitalism

Democratic socialism

Economics

Kirchnerism

New Deal

Social democracy

Welfare state

References

^ "The Origins and Evolution of Progressive Economics".

^ Stefan, George M. "European Welfare State in a Historical Perspective: A Critical Review".

^ Stefan, George M. "European Welfare State in a Historical Perspective: A Critical Review". ResearchGate. Retrieved 28 April 2020.

S2CID 155000807
. Retrieved 28 April 2020.

JSTOR j.ctt1g69wkf.15
.

Retrieved from "https://en.wikipedia.org/w/index.php?title=Economic_progressivism&oldid=1213891777"

[1] "The Origins and Evolution of Progressive Economics".

[2] Stefan, George M. "European Welfare State in a Historical Perspective: A Critical Review".

[3] Stefan, George M. "European Welfare State in a Historical Perspective: A Critical Review". ResearchGate. Retrieved 28 April 2020.

[4] S2CID 155000807
. Retrieved 28 April 2020.

[5] JSTOR j.ctt1g69wkf.15
.

[1]

[5]