Red states have less corporate influence over their economy than blue states (stats, Nebraska)

[Winterfall8324]

Some important stats:

https://ilsr.org/map-shows-how-well-...-dakota-works/

If you look at the map, wall street banks have a far smaller share of deposits in red states than in blue states.

This is also true for things like electricity where Nebraska leads in terms of elimination stock shares in their electric grid:
https://www.yesmagazine.org/economy/...-owned-energy/

And in general, individual power supplies and green energy:
https://energymonitor.ai/technology/...ar-power-surge

One state that has done best at distributing vaccines is West Virginia, and that is becasue they rely on local pharmacies, and no CVSs

https://twitter.com/stacyfmitchell/s...96302406266881


Republicans are infamous for their undying support of financial institutions and corporations, so why this discrepancy?

First let me say this is relative only, all states are struggling with the influence of investors in wall street. However on average it is places with republican leadership that are far less affected.

This comes down to rural vs urban divide.

It is not because they are red states, but because most rural states are red. The less urbanization means less regulations, cheaper land, and more investment from local suppliers.

For example, Vermont which very blue, but also very rural, doesn't have walmart or big-box retailers dominating their consumer economy:
https://ilsr.org/vermont-is-magic-blp-episode-46/


In the end, I think these stronger community economics decrease the need for stronger welfare or government intervention in the economy.

So while many democrats think republicans are dumb for voting against their own interests, I think seeing how the local economies differ show why people see welfare/regulations differently.

[beb0p]

Originally Posted by Winterfall8324

Some important stats:

https://ilsr.org/map-shows-how-well-...-dakota-works/

If you look at the map, wall street banks have a far smaller share of deposits in red states than in blue states.

Big businesses don't go to places where they don't make that much money. It's the same reason why I don't invest in real estate in rural red states - yeah it's cheap but the economy is crap, the locals have no money, the return is small and the appreciation is non-existent.

Big banks don't open in North Dakota is the same reason Walmart tends to stay away from Vermont - there is not enough money to be made there. So you have mom and pop businesses filling in and fighting for scraps.

Not having big banks is also a sign that the economy is stagnant and doesn't have much reach outside of the state, which is not good.

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