JOEL KOTKIN: The Coming Democratic Civil War:
Even before the election of Donald Trump, and more so afterwards, the dysfunction of the GOP has been glaringly obvious. Yet, despite the miserable favorability ratings for both Trump and the Republicans, those of the Democrats, notes Gallup, also have been dropping, and are nearly identical to that of the Republicans.
This is a particularly poor showing for the Dems given that the press is 100% on their side and 100% anti-Trump and anti-GOP. Plus:
The two most remarkable campaigns of 2016 — those of Trump and Bernie Sanders — were driven by different faces of populist resentment. Yet, increasingly, the Democrats’ populist pretensions conflict with their alliance with ascendant “sovereigns of cyberspace,” whose power and wealth have waxed to almost absurd heights. Other parts of their upscale coalition include the media, academia and the upper bureaucracy.
This affluent base can embrace the progressives’ social agenda — meeting the demands of feminists, gays and minority activists. But they are less enthusiastic about the social democratic income redistribution proposed by Bernie Sanders, who is now, by some measurements, the nation’s most popular political figure. This new putative ruling class, notes author Michael Lind, sees its rise, and the decline of the rest, not as a reflection of social inequity, but rather their meritocratic virtue. Only racism, homophobia or misogyny — in other words, the sins of the “deplorables” — matter.
The Washington Post, owned by Jeff Bezos, the world’s third-richest man, reflects this socially liberal, but oligopolistic, worldview. Last spring, Bezos worked assiduously to undermine Sanders’ campaign, then promoted Clinton, and now has become a leading voice in the anti-Trump “resistance.” The gentry wing of the party, which dominates fundraising and media, as the opposition to Sanders reveals, likes its money. The tech community is famously adept at avoiding taxes.
How long can this odd pairing of socialism and oligopoly persist? There are growing sentiments on the left to begin confiscating some of the massive wealth of the tech firms. Bank of America’s Michael Harnett recently warned that continued growth of stock market wealth in a handful of tech stocks “could ultimately lead to populist calls for redistribution of the increasingly concentrated wealth of Silicon Valley.”
Well, at some point, as a President that Silicon Valley boosted once observed, you’ve made enough money. It’s also less and less clear to ordinary Americans that the things that make Silicon Valley rich are also making America better.