Jacobin Radio Confronting Capitalism: Why Liberalism Lost Again
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Dec 4, 2024 
Vivek Chibber, a sociology professor at NYU and editor of Catalyst Journal, engages in a thought-provoking discussion with Bhaskar Sunkara about the connections between capitalism and the recent political landscape. They delve into why Trump’s election was a wake-up call for socialists and the need for strategic alliances with liberals. Chibber critiques the Democratic Party’s disconnect from the working class, advocating for a focus on economic issues over identity politics as they explore navigating a united front against capitalism.
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Working Class Frustration
- The American public isn't becoming more prejudiced, but rather, the political elite is growing more disdainful.
- The working class's choice to vote for Trump is an expression of their anger and frustration with limited options.
Democratic Party's Abandonment of the Working Class
- The working class's shift away from the Democratic Party began in the mid-90s with NAFTA, accelerating after the Obama administration.
- This shift isn't about race, but about the Democratic Party abandoning its working-class base, prioritizing funders' needs.
Biden's Inflation Missteps
- Inflation under Biden wasn't due to a hot economy, but supply-side shocks exacerbated by the administration's inaction.
- Biden should have mobilized national resources to fix supply chains, instead of relying on the Fed.