Joseph Stiglitz, writing in the Guardian, says it is Democrats’ (and Republicans’) adherence to neoliberal economics, that has hollowed out belief in America’s Democratic Institutions: “...To me [Stiglitz], 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.”
The message seems clear: All the feel-good tax credits for the upper middle class and general economy boosting measures that do not raise the minimum wage and do not put more money in the pockets of the poor and lower middle class are killing the American Dream...and just killed the Democrats’ chances to implement a new American rebirth.
(To that end, (see above), our income inequality is higher than at the time of the French Revolution in 1789.)
Maybe its time to realize that a Party run by neoliberals like Chuck Shumer, Joe Biden and Hakeem Jeffries is simply not meeting the needs of America’s rural and urban poor...and that Wall Street hedge funders are not only not the Democrats’ friends but most decidedly not the friends of the poor and lower middle class—whose labor, pensions, houses and health care dollars they harvest in order to optimize their quarterly ROIs.
