dervis60_Jeff Swensen_Stringer_trump RNC Jeff Swensen/Stringer

The Case for Constructive Populism

There is an urgent need for a moderate, humanist populism that can counter the extremists with simple yet powerful ideas that resonate with millions. Our democracies, when faced with dire challenges, have found such voices before.

WASHINGTON, DC – The Brexit vote has unleashed a huge amount of commentary on anti-establishment politics, the failure of experts, the abdication of the left, and much else. Juxtaposed to the presidential campaign in the United States, Brexit is regarded by many as a wake-up call.

In response, former US Treasury Secretary and former president of Harvard Larry Summers is calling for “responsible nationalism” to counter the often chauvinistic, anti-immigrant, and protectionist language of the populist right. It would be “understood that countries are expected to pursue their citizens’ economic welfare as a primary objective but where their ability to harm the interests of citizens elsewhere is circumscribed.” We would judge international agreements “not by how much is harmonized or by how many barriers are torn down but whether citizens are empowered.”

As Summers and others argue, globalization has brought large gains to the world economy as a whole, but seldom have the winners compensated the losers, directly or indirectly. Moreover, lately the winners have often been much smaller in number than the losers, particularly in a given geographical area, or because of winner-take-all markets. Finally, the economic policies preferred by the “winners” – and adopted under their influence – are usually far from beneficial for all.

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