There are different ways to define economic populism. Very broadly, you can think of it as a series of policies that defy economic fundamentals, or at least economic conventional wisdom, and instead focus on delivering immediate benefits to specific groups, like blue-collar workers, even if the policies themselves risk eroding the economy’s productive capacity in the long run. And there is often an “othering” involved, a blaming of foreign countries or immigrants or shadowy elites for the economy’s problems.
Tariffs, for example, in an attempt to protect certain domestic industries and keep workers in those industries employed, can drive up the prices of the goods that people and companies in the US buy and otherwise raise the cost of doing business in the US. Other populist ideas include cracking down on legal immigration and having the government buy stakes in private companies, both of which the Trump administration has also done.
But what do American workers think about these policies? After all, workers are the very people who are supposed to be benefiting from populist policies. Are they feeling those benefits?
Today's guest is Kristen Soltis Anderson, co-founder of Echelon Insights, a polling firm that recently fielded a survey of American workers on behalf of the Economic Innovation Group. We discuss the survey findings, Kristen's recent New York Times column on Donald Trump's weakening political brand, the unexpected trends on how Democrats and Republicans view Socialism versus Capitalism, the public's frustrations over the cost of living and political corruption, what all of this might mean for the upcoming midterm elections, and more.
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