The kind of populist and nationalist impulses that featured so prominently in US President Joe Biden’s State of the Union address nearly always lead to bad policy. The United States needs to move past the “grievance-onomics” that have prevailed since the 2008 financial crisis.
WASHINGTON, DC – Populism surged in response to the 2008 financial crisis. On the political left in the United States, the Occupy Wall Street movement, overblown concerns about income inequality, and Bernie Sanders’s unexpectedly strong 2016 presidential primary campaign signaled a large shift from the more centrist politics of the pre-Great Recession era. On the right, of course, Donald Trump rode a wave of populist grievance, xenophobia, and nationalism to win the White House.
WASHINGTON, DC – Populism surged in response to the 2008 financial crisis. On the political left in the United States, the Occupy Wall Street movement, overblown concerns about income inequality, and Bernie Sanders’s unexpectedly strong 2016 presidential primary campaign signaled a large shift from the more centrist politics of the pre-Great Recession era. On the right, of course, Donald Trump rode a wave of populist grievance, xenophobia, and nationalism to win the White House.