Nancy Fraser, the Henry and Louise Loeb Professor of Political and Social Science at the New School, dives into the intersections of neoliberalism and populism. She critiques the facade of progressive neoliberalism that prioritizes identity politics over economic equity. The conversation examines the evolution of the Democratic Party, highlighting the challenges faced by figures like Bernie Sanders. Fraser also analyzes populist narratives from Trump and Sanders, discussing their impact on political allegiances and the struggles within the Democratic Party ahead of the 2028 elections.
The alliance of progressive neoliberalism and corporate interests has led to a disconnect between the Democratic Party and working-class voters.
Trumpism emerged as a populist reaction to political failures, contrasting with Bernie Sanders' inclusive vision centered on class struggle.
Deep dives
Understanding Progressive Neoliberalism
Progressive neoliberalism is characterized as a powerful alliance between mainstream liberal social movements and the influential sectors of the economy, such as Wall Street and Silicon Valley. This coalition was sustained by a shared focus on issues of recognition, including feminism and anti-racism, while neglecting broader economic concerns of working-class voters. The result was a superficial semblance of progressiveness that allowed corporate interests to disguise their plutocratic policies as altruism, effectively maintaining the status quo. This framework ultimately alienated many from the Democratic Party, as it appeared disconnected from real economic struggles.
The Rise and Transformation of Populism
The emergence of Trumpism was seen as a reaction to the failure of established political systems, marking a significant shift in the political landscape. This phenomenon unfolded alongside the 2016 presidential election, where both Trump and Bernie Sanders presented anti-establishment narratives, appealing to disaffected voters. However, the two figures diverged in their approaches, with Trump adopting a narrow and exclusionary vision of populism, while Sanders offered a more inclusive vision centered around class struggle. The dynamics of populism continue to evolve, with Trump having solidified his influence within the Republican Party, transforming from an outsider to a central figure.
Challenges Within the Democratic Party
The Democratic Party faces a critical moment as it grapples with its failing relationship with the working class, a demographic it has historically represented. Attempts to reassemble the progressive neoliberal coalition have resulted in repeated failures, indicating a disconnect between elite leadership and grassroots concerns. Younger, more left-leaning figures within the party struggle to gain traction, as the establishment continues to prioritize corporate and professional class interests. This situation highlights a potential identity crisis for the party, as its failure to address working-class issues risks exacerbating its marginalization in future elections.
Future of Populism on the Left and Right
The future of populism in both major political parties appears uncertain, with the potential for pseudo-populism dominating discussions. The Republican Party seems to be flirting with a more populist agenda, evidenced by outreach to diverse working-class voters while maintaining corporate ties. Conversely, the Democratic Party's trajectory suggests a lean toward catering to the professional and corporate elite, rather than embracing a more inclusive, working-class approach. As both parties navigate these dynamics, the lack of coherent, populist policies raises questions about their ability to effectively champion the needs of the broader public.
Today for the holiday weekend, we have Nancy Fraser, the Henry and Louise Loeb Professor of Political and Social Science at the New School. She has written widely on feminism, injustice, the problem with identity politics, and neoliberalism. Her most recent books areCannibal Capitalism and The Old is Dying and the New Cannot Be Born, both of which were published by Verso.
We revisited an extremely prescient essay she wrote in 2017 for American Affairs about progressive neoliberalism, hegemony, and how Trump both disrupted and reified the existing order. Lotta great talk in this one about whether the Democrats will ever wake up, economic populism, what Trump might do in his second term and more!
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