Establishment Populism Rising
David Autor, a professor of economics at M.I.T., wrote in an email that Summers seems
to presuppose that we have entered an era of secular stagnation with perennially insufficient demand. I don’t share this pessimism, and I think many indicators point in the right direction: employment growth, wage trends, inflation, energy prices, even inequality.
.. Many of the policies outlined by Summers — especially on trade, taxation, financial regulation and worker empowerment — are the very policies that divide the Wall-Street-corporate wing from the working-to-middle-class wing of the Democratic Party. Put another way, these policies divide the money wing from the voting wing.
Summers has forced out in the open a set of choices that Hillary Clinton has so far avoided, choices that even if she attempts to elide them will amount to a signal of where her loyalties lie.