The Anatomy of America

 

The New Deal redistributed power across institutions. This power-sharing and how these institutions interact lies beyond formal democratic structures. The post-war boom was the context where various interest groups — labor, business, government — prevented any one bloc from gaining dominance.

The competition among major economic sectors in the U.S. remains intense, though the nature of that competition has evolved since the New Deal ran its course. Here's how the jostling plays out today among the key players:

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🏭 Heavy Industry

- Status: Declining in relative size but still influential, especially in defense, energy, and infrastructure.

- Power Base: Concentrated in lobbying for subsidies, tariffs (e.g., steel and aluminum), and favorable trade policies.

- Current Tensions: Competes with environmental and tech sectors over regulation and investment priorities.

🧰 Light Industry

- Status: More fragmented, often overshadowed by services and tech.

- Power Base: Regional manufacturing hubs (e.g., Midwest, South) and small-to-medium enterprises.

- Current Tensions: Competes with imports and automation; seeks support through reshoring initiatives and tax incentives.

👷 Labor

- Status: Weakened union power overall, but resurging in sectors like logistics (Amazon, UPS), auto (UAW), and tech.

- Power Base: Political organizing, especially in swing states; growing influence through social movements and strikes.

- Current Tensions: Often at odds with corporate interests over wages, benefits, and working conditions.

🌾 Farming

- Status: Highly productive but increasingly consolidated (agribusiness dominates).

- Power Base: Strong lobbying (e.g., Farm Bureau), influence over food policy, ethanol mandates, and subsidies.

- Current Tensions: Competes with environmentalists over land use and water rights; with tech over rural broadband and automation.

🏘️ Real Estate

- Status: Booming in some regions, central to wealth accumulation and urban development.

- Power Base: Local zoning boards, national associations (e.g., NAR), and financial institutions.

- Current Tensions: Clashes with labor (housing affordability), environmentalists (land use), and tech (remote work reshaping demand).

🏦 Finance and Tech (New Titans)

- Status: These sectors now dominate GDP and political influence.

- Power Base: Campaign donations, regulatory capture, and global capital flows.

- Current Tensions: Face scrutiny from all other sectors — especially labor, real estate, and manufacturing — for their outsized influence.

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🧭 Veblenist Lens: Institutional Rivalry

Institutionalists emphasize that modern economies are shaped by institutional competition, not just market forces. Today, that means:

- Lobbying wars in Washington

- Regulatory capture by dominant sectors

- Public-private partnerships that favor entrenched interests

- Media and narrative control to sway public opinion and policy

In short, the pluralistic economy is alive and well — though the players have shifted, and the battlefield now includes data, algorithms, and global capital as much as factories and farms.

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