United States | U-shaped economic thinking

The American left and right loathe each other and agree on a lot

Economic philosophy is not just changing—it is converging

A donkey and an elephant face to face holding a globe between their heads
Image: Tyler Comrie/Getty Images
|WASHINGTON, DC

NORMALLY, YOU need read only the first six or seven words of a senator’s sentence to be able to correctly surmise his party. See if you can tell from the next 40 or so, an extract culled from a prominent senator’s recent book: “Today, neoliberalism is in. In the eyes of our elites, the spread and support of free trade should come before all other concerns—personal, political and geopolitical. In recent years this has led to a kind of ‘free-market fundamentalism’.” Suppose you were given a hint. The three proposed solutions for the neoliberal malaise are: “putting Wall Street in its place”, bringing “critical industries back to America” and resurrecting “an obligation to rebuild America’s workforce”.

This article appeared in the United States section of the print edition under the headline “Frenemies”

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