How Progressive Will Hillarynomics Be?
The center-left think tank "Center for American Progress" recently issued a report entitled the "Report of the Commission on Inclusive Prosperity." Overall, the report presents a multi-pronged approach to boost middle-class incomes, and calls for a more progressive public policy through promoting labor unions and fiscal stimulus...
The political center of gravity has recently shifted in the Democratic Party, and there are reasons to hope that Hillary Clinton will embrace a progressive, far-reaching agenda. The 2008 supbrime mortgage meltdown perpetuated by Wall Street and the subsequent recession have caused inequality to dominate the party's policy agenda in a way it did not before...
Even among the traditionally centrist wing of the Democratic Party, there has become widespread recognition that exorbitant income inequality must be addressed to prevent "insufficient aggregate demand" from restricting economic growth and prosperity...
Due to the efforts of progressives like Elizabeth Warren, the Democratic Party has not only defended entitlement programs, but has called for expanding them. Hopefully this shift among the party's establishment will have a long-lasting impact that will encourage future party leaders to embrace a more ambitious role for government, the likes of which we haven't seen since the heyday of postwar liberalism...
Establishment Democrats will undoubtedly look to the Summers report as a blueprint for crafting their economic agenda in 2016. The policy regime put forth in Summers report is referred to as "inclusive capitalism." "Inclusive capitalism" seeks to fundamentally alter the rules of the marketplace by shifting America from its shareholder model of capitalism based on short-term profits to a more stakeholder model of capitalism that invests more in employees, the environment and communities. Inclusive capitalism posits that the middle-class does not want to punish the rich; just that middle class families want a chance to succeed and take in some of the new income generated by the economy. The market-oriented reforms and legislative endeavors of "inclusive capitalism" seek to counter inequality, wealth concentration, and promote opportunity and upward mobility. If these policies become central to the party's platform, it will be the Democratic Party's strongest commitment to boosting middle-class incomes since FDR's New Deal...
However, while Hillary Clinton won't turn into a social democrat, there is no need for there to be a lasting, intractable schism between progressives and establishment Democrats. If Hillary successfully crafts an economic message that exploits the recent convergence in thinking between the center and center-left, she can definitely construct an inequality agenda that satisfies both the establishment and progressive Democrats even if she doesn't give the latter everything they want. Progressives are already being heard by the establishment more they've been in a long time. If Hillary channels Elizabeth Warren, she'll solidify her support among the liberal base and increase voter turnout during the general election...
In order to effectively lead and represent her party, she will have to settle for the policy preferences of the median Democrat. With the Democratic Party becoming more populist in both the electorate and among elected officials, Hillary will be forced to embrace a progressive agenda in the 2016 campaign. Her personal views are irrelevant; regardless of whether Hillary is genuinely a progressive or a DLC Wall Street Dem, structural factors will prevent her from advocating for corporatist policies if she seeks to be the party's standard bearer. She cannot be a "Third-Way" Democrat in an operational sense. Again, she can only lead the Democratic Party in directions the party is willing to follow.
Of course, her policy preferences in the abstract won't reveal much about how she would govern in office, although it appears she would take a harder-edged approach to leadership and negotiation than President Obama. She may stand firm and pursue her agenda through creative uses of executive power. She may instead focus more on bipartisanship and trying to stake out compromises with the GOP wherever possible, although that is unlikely given party polarization and GOP intransigence. While the Democrats have a structural advantage in the 2016 Senate election and can retake that chamber, due to gerrymandering, the GOP may well hold the House until 2022. Even if the Dems retake the Senate, they may not have a filibuster-proof majority, denying Hillary an easy path for enacting her agenda. She may very well have to resort to executive actions.
Having said that, I am positive that due to the growth of progressives as a juggernaut force within the Democratic Party, Hillary's starting point on policy negotiates will be more far-reaching, transformative, and progressive than what we've seen in a while from mainstream Democratic Party leaders.
See full post here: http://policywonkroy.blogspot.com/2015/04/hillarynomics.html
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If she "crafts an economic message", it won't be one we can expect to see applied if she takes office.
Her track record speaks for itself:
On the board of Walmart, enabling of outsourcing, a bit too friendly with other nations' business community, such as outsourcing and job-stealing anti-union firm, TATA:
New Delhi: – US Secretary of state Hillary Clinton yet again chose to reside in the TATA Suite, the grand presidential suite at Taj Palace, New Delhi for the third time during her visit to India. The Tata Suite, which is a befitting tribute to style and elegance, has been the chosen address for Hillary when she last visited Delhi in July 2011.
The suite was specially prepared according to her tastes and preferences. A small platter of Indian sweets, big coffee mugs were placed in the suite, which are some of Ms. Clinton’s preferences. Taj Khazana, the in house lifestyle store of the Taj, created a bespoke shopping experience for her at the Jehangir Hall. Taj Khazana flew in some of the finest Paramparik Karigar (master craftsmen) from across remote parts of India to display their handicrafts and paintings. Miniature arts, Gand paintings from MP, Phad paintings from Rajasthan, Garva kaam from Basar and Tarakashi kaam from Rajasthan were displayed.
After the packed schedule of the day, Hillary resigned to the private retreat of the suite and took a rejuvenation spa package from her favorite masseur.
During her last visit, Ms. Hillary Clinton relished the menu offerings which Image 2 U.S. Secretary of State Hillary Clinton being welcomed Mr. Taljinder Singh General Manager Taj Palace at the hotel 300x200 US Secretary of State, Hillary Clinton stays at Tata Suite, Taj Palace, New Delhihad a mix of authentic North Indian from Masala Art and contemporary European from Orient Express, both fine dining restaurants at Taj Palace. Chef Rajesh Wadhwa, Executive Chef, Taj Palace, who has been serving Hillary Clinton during the last two visits, is familiar with her tastes. Some of the signature dishes that were served were Pan seared foie gras on brioche, preserved ginger, warm duck dressing, Camembert cheese soufflé, Spanish paprika sauce, Roasted Chilean Seabass, fava conchigli, liquorices sauce, Penne in perigord black truffle sauce, sun dried tomatoes. Her favourite Indian preferences from Masala Art include Char Grilled Jumbo prawns and Creamy chicken kebab with burnt garlic.
http://www.apnnews.com/2012/05/09/us-secretary-of-state-hillary-clinton-stays-at-tata-suite-taj-palace-new-delhi/
