At the time of the assault on the U.S. Capitol on Jan. 6, 2021, many observers disagreed with labeling it a coup attempt. Political violence, for sure. Insurrection, perhaps. But a coup? In the United States? In fact, the reluctance to label what happened that day a coup flies in the face of what political scientists know about coups.
Bank failures are back in the news, after three of the United States’ 30 largest banks collapsed in the past three months. These bank failures and the policy responses to date have taught us several important lessons about why such crises keep happening in the U.S. and how policymakers can act to break this self-destructive cycle.
According to some pundits, class identity in the United States matters only insofar as it is a proxy for anti-immigrant attitudes and resentment toward racial minorities. But we shouldn’t be so quick to accept the idea that class identification is unimportant to Americans and therefore politically irrelevant.