Mark Thoma: Rising insecurity and the rise of Trump and Sanders

Mark Thoma writes about Rising insecurity and the rise of Trump and Sanders.

We don't have to abandon capitalism. Sharing the gains from America's dynamic, flexible economy more widely won't kill the goose that lays our golden — but unequally distributed — eggs.

But those with wealth and economic and political power must understand that the populist uprising evident in the current election cycle will only get stronger, and the changes to the country's system will be more drastic and unpredictable if these people continue to stand in the way of policies that reduce the economic insecurity and inequities that so many people feel in their daily lives.

Emphasis Mine

As a Capitalist economist, Thoma has to believe that:

• Capitalism is the system available
• Democracy, under Capitalism, can serve the Common Good
• The Capitalist State can be captured by the people through the political process

Yet, he writes his appeal to the establishment, not to the people. He seems to believe that the illusion of the political process as democratic for all is being exposed.

The Capitalist State serves the Capitalist class. Both must be destroyed in order for a truly democratic system to arise in concert with an economic system that fulfils the needs of the people.