Time magazine has published an amazing piece on “The New Liberal Order”. What can the past (and the likes of FDR, Nixon and the Vietnam War) tell us about the present and the prospects for the future? Starting with liberalism’s death in Grant Park in Chicago in 1968 outside the DNC convention and moving onto its glorious rebirth in the same park in 2008; this article is definitely worth a read!

If he [Obama] can do what F.D.R. did — make American capitalism stabler and less savage — he will establish a Democratic majority that dominates U.S. politics for a generation. And despite the daunting problems he inherits, he’s got an excellent chance. For one thing, taking aggressive action to stimulate the economy, regulate the financial industry and shore up the American welfare state won’t divide his political coalition; it will divide the other side. On domestic economics, Democrats up and down the class ladder mostly agree. Even among Democratic Party economists, the divide that existed during the Clinton years between deficit hawks like Robert Rubin and free spenders like Robert Reich has largely evaporated, as everyone has embraced a bigger government role. Today it’s Republicans who — though more unified on cultural issues — are split badly between upscale business types who want government out of the way and pro-government conservatives who want Washington’s help. If Obama moves forcefully to restore economic order, the Wall Street Journal will squawk about creeping socialism, as it did in F.D.R.’s day, but many downscale Republicans will cheer. It’s these working-class Reagan Democrats who could become tomorrow’s Obama Republicans — a key component of a new liberal majority — if he alleviates their economic fears.

Tags: Obama, Politics