SACR3910 Contemporary Social Theory : Solution Essays

Question:

Theory: Overview of the Assignment

This course emphasizes the active application of theory to real-world phenomena, in this you will engage with at least two of the course readings from Weeks 2-5. The name of this course is Contemporary Social Theory and therefore Paper One will deal with a particular  theoretical course concept from the first five weeks and show its significance to explaining a particular topic within the larger context of contemporary capitalism. The idea here is not merely to describe a phenomenon, but rather to “do theory” by actively explaining the topic using relevant theoretical concepts.

Paper’s Topic

Students should select one of the Course Concepts (see List 1 below) and then use it to analyse a Contemporary Topic (see List 2 below).
 
List 1. Course Concepts.

The major concepts we have covered so far include the following:

1. Social theory in contemporary society. The crisis of capitalism
2. Gramsci and hegemony; hegemonic crisis; hegemonic bloc; passive revolution and caesarism; history and definitions of fascism; counter-hegemony; ideology
3. Postcolonialism. Colonialism as culture; Fanon’s reinterpretation of Hegel’s master/slave dialectic; imperialism and culture; ideology, commodity racism and imperialism; critique of US imperialism.
4. Settler Colonialism.
5. World systems theory. Periphery, semi-periphery and core regions; dialectical view of the expansion of capitalism historically and geographically; 21st century fascism;
Accumulation by dispossession.

List 2. Contemporary TopicsChoose one of the following Contemporary Topics to analyse using your selected Course Concept:

The rise of the far right
The rise of the left (e.g. Bernie Sanders)
The election of Donald Trump
Mass media, culture and imperialism/colonialism
Third World poverty and financialization
Refugees
The Great Recession (2008-present)
Contemporary racism
Land grabs
Any relevant topic you consider can be analysed using the course concepts (e-mail the professor to make sure it is acceptable).
 

Answer:

Topic: Crisis of Capitalism in Relation to the Election of Donald Trump Paper

Introduction

According to capitalists, free markets are the most efficient way of organizing the society. Consequently, they argue that markets are not only effective tools in the allocation of resources, but also ensure that individual rights are protected in the process. Markets, in this case, if unregulated are believed to promote economic growth and efficiency, while ensuring the proper distribution of income since they reflect every individual’s influence on the economy. Concurrently, a softer form of capitalism, which sources also describe as liberal democracy or a mixed economy, recognizes the significance of markets, while agreeing with the need for government involvement in remedying market failures and addressing distributional concerns (Graham, 2018). This kind of economy was significantly dominant worldwide during the three decades after World War II. In the United States, the mixed economy was supported by Bill Clinton’s administration in the 1990s, as well as by Obama during the 2000s. Thus, a crisis of capitalism would ensue in a bid for national restructuring and the formation of policies that regulate capitalism. Prior to Donald Trump’s election, while Sanders advocated for a left-wing answer to the crisis of capitalism that was founded on social democracy and a better welfare state, Trump stood for a right-wing resolution founded on isolationist protectionism for which he believed would put the interests of the American citizen at the forefront (Barro & Jason, 2018). This essay maintains that the election of Donald Trump led to a spike in inequality as well as a government focused only on enhancing business and pleasing the wealthy class. Trump’s election, as the essay argues, is the contemporary topic and root cause of the crises of capitalism in the United States.

Stagnant Free Trade and Technology

According to many Americans, technology and free trade are believed to be the main cause for unemployment and stagnant earnings. In keeping with the concept of capitalism, social theory explains that the benefits of technology and free trade are less recognized since their use surpass the costs, thereby hurting a majority in the process. Capitalism assumes that winners recompense losers, thus those residing in declining communities may eventually move to more thriving areas (Fisher, 2009). However, in the United States, winners are prospering whereas losers have to contend with unemployment, community decline and high suicide rates, as well as the increased lack of trust in the government. Therefore, crises of capitalism ensued since losers and winners both elected President Donald Trump in 2016 because he vowed to restructure trade and immigration, not using economic adjustment, but rather with different tariffs and a wall (Hacker & Paul, 2016). In turn, his administration has stagnated free trade and technology since it propagates status anxiety and cultural division. Counter-reactions to his administration has led to crises of capitalism and populist movements all geared towards altering his political norms, and the upholding of income-related democratic values (Monbiot, 2017).

 

Poor Economic Growth

Other than the consequences of free trade and technology, the need for faster economic growth continues to influence policies both on the right and left. While the left base their agenda on increased investment in inquiry, learning, and infrastructure, the right place their emphasis on supply-side policies, such as, lower tax rates, deregulation, and more fiscal accountability. With previous intentions of improving economic growth, supply-side policies were also applied during Reagan and Bush’s administration, though with little evidence suggesting an increase in growth in the long-run (Thaler, 2016). While economists agree that tax cuts may prove beneficial as purported by the Keynesian theory, the social theory suggests that the economy may only experience growth in the short term. This is due to the fact that high unemployment rates also cause economic stagnation. Similarly, since the lower tax rates have been facilitated by further accumulation of national debt, many other economists also agree that long-term economic growth may eventually be limited (Duménil & Dominique, 2011). This is because increased debt results in spiked borrowing costs in all market sectors. Additionally, since a significant amount of the national debt is acquired from foreign countries, any rise in production or income within the country will have to be reserved so as to repay all loans and interests. Although, as economists also believe, the new tax law implemented in 2017 may have a positive effect on the economy, long term growth rates may not surpass the one percentage point initially projected by President Trump. Hence, despite Trump’s economic policies, the economy may not be able to sustain the national community in the long-run. In turn, this has sparked unrest among losers because it indicates the character of misappropriation at the expense of the lower class societies (Piketty, 2014).

Rise in Inequality

More troubling than poor economic growth is the ever-increasing levels of inequality in the United States under Trump’s rule. Inequality, if left unchecked may continue to influence other market forces in opposition to the country’s economic health. For example, according to contemporary social theory, unequal wage gaps continue to enable the rich to accumulate more money than other lower classes, resulting in a build-up of capital among the wealthy. This accumulation spikes more inequality because while the poor are struggling to make ends, meet, the rich merely profit from the gains of their mounting financial assets (Galston, 2018). Similarly, during the 2016 elections, Trump and his team believed that the root cause of economic stagnation in America was the immigrants. The voicing of this alleged issue implied that immigrants were of lesser value as compared to other citizens. Consequently, at the very start of his administration, President Trump announced three executive directives, all of which either resulted in deportation of immigrants, or a restriction of their entry into the country. Sociologists refer to this act as a nativist social concept which automatically worsened the rift between American citizens, and arguably tipped the capitalist game against the lower class society. Ultimately, Trump’s administration has not only widened wage gaps as a result of poor economic growth, but also put in place anti-competitive measures to favor capital, all of which may soon intensify crises in capitalism (Galston, 2018).

Conclusion

Trump’s election has led to crises in capitalism, all of fight against his critique of the importance of democracy. His administration suggests that the government has been influenced by the business prospects of the wealthy few, thereby encouraging inequality, poor economic growth, and unfair market competition. Additionally, Trump’s election and their comprehension of capitalism has intensified the levels of inequality among inhabitants owing to his endeavors to maintain income and wealth among the wealthy class. Hence, the current capitalist system in the United States is not self-correcting, but rather embodies a supply-side political system that only benefits those with a large supply of money. The outcome has created political institutions believed to be a threat to democracy, thereby propagating the onset of crises that hope to end the process (Eribon, 2013). A potential research issue raised by the essay concerns the potential risk of severe capitalism on more contemporary versions of capitalist economies. Similarly, as a research question, if one approves of this analysis of a contemporary capitalist system, what efforts could be made to ensure a reprioritization of general fairness and success?

 

References

Barro, R., & Jason, F. (2018). Economic Activity: Macroeconomic effects of the 2017 tax reform. Washington, DC: Brookings Papers.

Duménil, G., & Dominique, L. (2011). The Crisis of Neoliberalism. Cambridge, MA: Harvard University Press.

Eribon, D. (2013). Returning to Reims. Los Angeles, CA: Semiotext.

Fisher, M. (2009). Capitalist Realism: Is There No Alternative? . Winchester: Zero Books.

Galston, W. (2018). Anti-pluralism: The Populist Threat to Liberal Democracy. New Haven: Yale Univesity Press.

Graham, C. (2018). Chapter 4. In I. Sawhill, Happiness for All? (pp. 54-77). Princeton, NJ: Princeton University Press.

Hacker, J., & Paul, P. (2016). American Amnesia (2 ed.). New York: Simon and Schuster.

Monbiot, G. (2017). Out of the Wreckage: A New Politics for an Age of Crisis. New York: Verso.

Piketty, T. (2014). Capital in the Twenty-first Century. MA, Harvard: University Press.

Thaler, R. (2016). Misbehaving: The Making of Behavioral Economics. New York: W.W. Norton and Company.

Place your order
(550 words)

Approximate price: $22

Homework help cost calculator

600 words
We'll send you the complete homework by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 customer support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • 4 hour deadline
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 300 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more
× How can I help you?