The article discusses how substantial donors use the “abundance agenda” to create a framework for Democratic elites to bypass the populist revival that many believe the party requires. The abundance liberalism concept focuses on minimizing bureaucratic obstacles and promoting the production of housing and green energy.
Ned Resnikoff, in a recent piece in “The Nation,” argues that proponents of “abundance” on the left offer a more nuanced analysis of power relations compared to some critics, highlighting plans to increase housing supply. However, Resnikoff and many of the agenda’s defenders might not grasp why this framework provokes backlash from the left.
Critics argue that the concern isn’t about opposition to zoning reform, as demonstrated by Bernie Sanders’ 2020 stance against exclusionary zoning. The worry is that interests aligned with corporations are using the abundance agenda to prevent a necessary return to economic populism within the Democratic Party.
The article emphasizes a populist shift among Democrats, identifying oligarchy as the antagonist. Various Democrats, including Bernie Sanders and Alexandria Ocasio-Cortez, lead this movement which is seen as a crucial strategy to counter Trumpism. The Monopoly Buster Caucus, aimed at combating corporate power, is co-chaired by both progressive and swing-district Democrats.
Despite this growing populist sentiment, many Democratic elites resist identifying billionaires and corporations as adversaries due to financial ties or fears of a populist takeover. Some, like Senator Elissa Slotkin, suggest that terms like “oligarchy” are not understood by the general public, despite polling indicating the opposite. Others, like Matt Bennett from the think tank Third Way, see the demand for economic populism as a type of purity test.
Groups like Third Way, funded by elite and corporate interests, are major proponents of the abundance framework. They aim to detract from the building momentum towards economic populism by redirecting dissatisfaction towards bureaucracy and leftist policies. Advocates like Derek Thompson attempt to channel establishment discontent toward these areas, shifting blame away from economic elites.
This situation has led to significant backlash. Critics are concerned that the abundance agenda, backed by influential figures and interests, might undermine efforts for a populist rebranding necessary for the Democrats to gain electorate trust. The abundance agenda is seen as reinforcing deregulatory messaging, which aligns with the interests of major corporate entities.
In conclusion, the article warns that addressing the challenges and overcoming the abundance narrative is essential for the Democratic Party to foster an economic populist resurgence.
