The Realignment 551 | John Cassidy: The Rise of Capitalism's Critics on the Nationalist Right and Democratic Socialist Left
May 15, 2025
John Cassidy, a staff writer for The New Yorker and author of "Capitalism and Its Critics," explores the rise of anti-capitalist sentiments from both the nationalist right and democratic socialist left. He discusses how figures like Trump and Sanders reflect contrasting critiques of capitalism and the social consequences of their policies. Cassidy dives into the failures of trade policy, the implications of AI disruption, and the evolving role of technology in democracy. His insights illuminate a shifting political landscape and the growing calls for reform.
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2016 Capitalism Critiques
- Trump's economic nationalism and Bernie Sanders' democratic socialism both critique capitalism from different sides.
- Their critiques reflect a broader backlash rooted in historical issues going back to the Industrial Revolution.
Globalization's Inevitability
- Globalization was inevitable due to technological progress and integration of massive new labor pools.
- The main failure was not globalization itself, but how poorly it was managed politically and socially.
AI's Disruptive Potential Risks
- AI could be the next major economic revolution but mishandling it risks massive inequality.
- If left only to profit motives, AI will displace workers rather than enhancing their productivity.
