What Karl Marx Got Right About Politics
Why have so many pundits analyzing socialism’s increasing popularity missed the mark?
TL;DR
- Failed trade policies under Bill Clinton led to the hollowing out of American manufacturing and the Great Recession.
- The response to the Great Recession, including bailouts and government spending, led younger generations to view government as the provider of first resort.
- Modern Monetary Theory made socialism seem economically plausible.
- COVID-19 pandemic lockdowns and subsequent government spending further exposed Americans to socialist-like policies.
- The author argues that economic conditions are the principal driving force in politics, more so than cultural or educational factors.
- Realigning trade and economic policies to promote widespread growth is presented as the solution to socialism's growing appeal.