Thanks for replying, Tom. Look, rational people can disagree about rational choices, but Obama is mostly in the past, so we should let that go. I agree with your sense that the country is lurching and the boat was a good image and I liked the story.
Solutions, as we both know, are much harder than criticism.
It seems to me that the core problem, is that things are getting worse for a majority of people in this country. I think worse is defined by material well-being, not in the narrow sense of a computer that is twice as fast as last year's or a $500 phone in everyone's hand, but in the sense of material and financial security-- whether someone feels that their job is secure, fears that an unexpected illness might bankrupt them, suspects, with statistical justification, that their children's lives will be less secure than their own, and so on.
America, the American Dream, and, frankly, capitalism, is predicated on things gradually improving. Capitalism needs growth, money lent at a rate needs a return, otherwise the system doesn't work. Over the past thirty or so years, most of the value of economic growth in this country has gone, increasingly, to a minority of the people. Naturally the majority, rightly or worngly, feels as though they don't have much to lose, nor do they have much reason to believe in the traditional values of the country, honesty, hard work, democracy, capitalism, and all the rest.
So yes, maybe the next lurch will be hard to the left. I remember a college professor telling us that, in the height of the Great Depression, communism was considered, by many people, be a reasonale alternative to capitalism which didn't seem to be working very well. Personally I consider that an unrealistic and discredited system, but I don't think you can be surprised that people are upset with the status quo.
This increasingly uneven division of the economic pie seems, to me, to be the core problem. You're a smart guy and a guy who has done well in this system, do you agree? If not, what do you think is the core problem? And at any rate, whatever you see as the problem, what do you think is the best way to solve it? That's an essay I'd love to read.
I absolutely agree with you. wish I wrote what you wrote.
my parents were communists during the depression (and their youth). Capitalism - and democracy itself - must deliver at least a chance of improvement - just as you say. If the perception is that the system is rigged, the system will fail.
The "system" is never completely fair, of course; but today it is too close to rigged. I think that is much of the source of anger.
The bipartisan bank-bailout called TARP was the eye-opener for me. It started in the Bush administration and got worse under Obama (as it might have under a Republican). Those who got the big bucks because they took risks got to keep the big bucks even when they failed. On a symbolic level the carried interest tax deduction for hedge fund managers has survived both Republican and Democratic administrations. Hedge fund managers are big campaign contributors.
I do think that repression by political correctness and identity politics with its set asides and quotas also lend to the perception of unfairness.
But it's easier to diagnose the problem than fix it. I do propose improvements from time-to-time. Today I'm encouraged by the tone of the comments on this piece. we can't fix anything if we can't talk to each other.