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When people become homeowners their interests are linked to finance capital. They favour increasing the price of their property over keeping workers rights and a welfare state.
This hits even harder when homeowners retire to the suburbs as they become isolated and cut off from working life.
I'm skeptical of this hypothesis for multiple reasons. First, it doesn't match anyone I know in real life. Second, statistically I don't think it really bears out as homeowners are usually close to evenly split in Rep and Dem voters with Reps getting a slight edge.
But more important I just think it's flawed to try to cram people living in the 21st century digital economy into two classes from industrial society hundreds of years ago. It's a false dichotomy that there are only two classes. I think voting behavior fits far more into Lakoffs model of cognitive frames and how people identify morally than it does with trying to reduce everything to worker vs capitalist which frankly is a bit outdated as a model.