The Six Principles of the New Populism
by Robert B. Reich
We're five years into a so-called recovery that's been a bonanza for the rich but a bust for the middle class, which is fueling a new populism. "The game is rigged and the American people know that. They get it right down to their toes," says
Left- and right-wing populists remain deeply divided over the role of government. Even so, the major fault line in American politics seems to be shifting, from Democrat vs. Republican to populist vs. establishment -- those who think the game is rigged vs. those who do the rigging.
The two sides are coming together around six principles:
1. Cut the biggest
2. Resurrect the Glass-Steagall Act
Separate investment from commercial banking and thereby preventing companies from gambling with their depositors' money.
3. End corporate welfare
This includes subsidies to big oil, big agribusiness, big pharma,
4. Stop the
5. Scale back American interventions overseas.
Populists on the left have long been uncomfortable with American forays overseas. Paul is leaning in the same direction. He also tends toward conspiratorial views about American interventionism, claiming that former Vice President
6. Oppose trade agreements crafted by big corporations.
Tea partiers continue their battle against establishment Republicans in Republican primaries. But the major test will come in 2016, when both parties pick their presidential candidates.
Cruz and Paul are already vying to take on Republican establishment favorites
Warren says she won't run in the Democratic primaries, presumably against
Dozens of major
Says a top
But if current trends continue, some similar "nightmare" is likely coming within the decade. If the American establishment wants to remain the establishment, it will need to respond to the anxiety that's fueling the new populism rather than fight it.
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Article: Copyright © 2014, Tribune Content Agency
"The Six Principles of the New Populism"