I have long thought that Obama represents a reform wave that probably surprised even him by its intensity. These waves occur every 30 to 40 years, and since the last one was in the 1960s we were overdue. The Second Gilded Age is over, and in fact the writing has been on the wall for some time for free market capitalisn. No doubt, its sudden and dramatic collapse stunned the Republicans and many Democrats who had gone along with the free marketeer consensus for decades. So it was after 1929, as well.
My guess is that we are at the dawn of a New Progressive Era whether we like it or not, and that the US by necessity is going to have a larger state sector—a mixed economy rather than a free market one. For the foreseeable future, all the cultural issues that fueled the New Right backlash after 1968 will be taking a backseat to economics. I also except that the Bretton Woods insititutions, the World Bank and IMF, are in for a major update. In all this, there is simply no choice any longer.
Posted by mcmchugh99 on Nov 13, 2008 at 2:21 PM
This is precisely why I find the recent Time magazine story on Obama’s political capital as strong enough—nay, essential enough—to introduce a “New, New Deal” as the magazine suggests.
Yes, every candidate that seeks to defeat any incumbent runs on the “change” moniker. Often, progressives feel left out.
I submit to you that there’s not only a need to implement progressive policies but there is a MANDATE to do so. Recall Obama’s primary political legitimacy: he voted against the War in Iraq. In retrospect it almost seems nostalgic. However, such a stance has to be one in which we continually bombard all other voices out. Or do as we might to provide a groundfloor, grassroots FOLLOW-UP on not just this matter, but all others.
I believe that “we are at the dawn of a New Progressive Era” as well. And while some siphon the politically pragmatic out of the eventual and honorable longterm strategy, I can say it’s wonderful to have any degree of faith anymore in our elected officials.
Posted by southern progress on Nov 14, 2008 at 7:33 PM
One of the things he could do is set up a National Development Bank or something like that, similar to the Reconstruction Finance Corporation of teh 1930s. (And it actually continued into the 1950s.) That could invest in all kinds of industries, infrastructure, schools, hospitals, green technology. If we have to nationalize the auto industry, for example, this could help it reorganize to produce greener vehicles. It would be better than having all these various interests go to Congress directly all the time and ask for bailouts.
They should also consider bringing the National Cooperative Bank into this system, to encourage small and medium-size business owned by employees.
Posted by mcmchugh99 on Nov 17, 2008 at 11:16 AM
Also featured
The End is Near
RSS Feed