Few French economists have achieved the kind of adulation Thomas Piketty has experienced recently from the media and the left. Within the context of the American political scene, Piketty’s dour predictions for the future of capitalism and his call for a “utopian” global wealth tax fit perfectly with the left’s frame of an inequality message.
Author: Benjamin Domenech
President Obama’s speech yesterday on inequality is being lauded as one of the best of his life, by people who paid attention to it. It’s a sad speech to read, in some sense, since it contains within it the promise of a presidency that we never saw come to fruition – the sort of policy effort that might have been launched to bipartisan success in the first year of his presidency, instead of his effort on Obamacare.
Had the administration admitted its management failure before the exchanges launched, or traded a delay of implementation in the course of negotiation, it could’ve taken a political hit, but avoided the policy failure.
Whenever it comes to a clash between the donor class and the base, there’s all sorts of threats and exhortations about who’s going to take their ball and go home. The grassroots conservatives say they won’t be able to deliver the votes and the volunteers, while the donor community demands that they be logical and get on the team.
All that’s needed is for the right leaders to step forward who understand the importance of all of this, who aren’t all soft answers or hard-edged knife fighters. Why do we accept the premise that the GOP either needs to be all Fredo or all Sonny?