July 8, 2017

OUR TWO REPUBLICAN PARTIES:

What the stock market's rise under Trump should teach Democrats (Mike Konczal,  Jul 7, 2017, Vox)

Democrats have come to view themselves as neutral caretakers of the existing economic system

Stewardship conveys ideas of looking after and keeping order. Democrats now see their role as serving as a fair broker among the competing parts of the economy. They insist they can come up with an arrangement in which capital and labor are simultaneously better off, and that they are the ones who will make the hard decisions, in contrast with the feckless Republicans.

Think of the number of times Democrats have emphasized that they balance the budget while Republicans run giant deficits. Think of the balancing acts required to promote reform without naming business as an enemy -- as we saw in both the financial and health care arenas. Think of how President Obama tried to achieve a Grand Bargain with Republicans in 2011 that would have cut Social Security under the mantra of responsibility, only to be stopped by the fact that conservatives wouldn't budge an inch in raising taxes. [...]

One key question for Democrats is the old labor one: "Which side are you on?" The Democratic Party used to give the answer, as Harry Truman did in 1948, that it "is pledged to work for labor." In recent decades they've given an answer that was essentially "all sides, for the common good." After 2016, Democrats should pick a side again.

The answer, of course, is the same for both parties : they need to be on the side of shareholders and on the side of universalizing and extending shareholding.



Posted by at July 8, 2017 8:15 AM

  

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