NEW YORK — As the shock of Donald Trump's victory sinks in, pundits and politicians are mulling what it means for the future of the United States and global politics. Understanding why such a divisive, unqualified figure won again is crucial for the Democrats. Did they go too far left and lose the moderate Americans who make up a majority? Or did centrist neoliberalism — pursued by Democratic presidents since Bill Clinton — fail to deliver, thus creating a demand for change?
To me, the answer is clear: 40 years of neoliberalism have left the US with unprecedented inequality, stagnation in the middle of the income spectrum (and worse for those below) and declining average life expectancy (highlighted by mounting "deaths of despair"). The American Dream is being killed, and although President Joe Biden and Vice President Kamala Harris distanced themselves from neoliberalism with their embrace of industrial policies, as representatives of the mainstream establishment, they remained associated with its legacy.
Register to read this story and more for free.
Signing up for an account helps us improve your browsing experience.
ContinueOR
See our subscription options.