Opinion: Trump has one big advantage heading into 2020. Here’s a progressive response to it.
Sen. Elizabeth Warren . By Greg Sargent Greg Sargent Opinion writer covering national politics Email Bio Follow Opinion writer April 10 at 10:17 AM President Trump is floundering around disastrously on multiple fronts, including on his signature issue of immigration, but let’s face the facts: He still retains a potential advantage on the economy.
The report, by the Roosevelt Institute, represents an ambitious effort to pull together much of the current intellectual ferment among progressive economists into one big coherent diagnosis of what has happened to the economy, and what can be done about it. In some ways, all this energy resembles the progressive rethinking of fundamentals about political economy — about markets and economic power and liberty — that took place amid the rise of industrialization and through the turn of the 20th century, culminating in the New Deal.
That shaping is ideally done in part by robust public power — the ability to spend to extend societal goods to everybody, to combat market failure, to check concentrated private economic power and so on. But in recent years, public power has been shouldered aside via capture of the market rules by corporations and the wealthy.
What Trump has done is very much in keeping with GOP economic orthodoxy, and it’s often described as “getting government out of the way” through deregulation and lower taxes. But, crucially, the Roosevelt vision maintains this is a misnomer: All of that actually constituted an active further rigging of the economy in favor of wealthy and corporate interests.
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