.RBReich: 2020 is about oligarchy vs. democracy—and there's only one choice here that will allow the Democrats to win | Opinion
In the conventional view of American politics, Joe Biden is a moderate, while Elizabeth Warren and Bernie Sanders are on the left and Donald Trump is on the right.
In those days, a general election was like a competition between two hot-dog vendors on a long boardwalk extending from the left to the right. Each had to move to the middle to maximize sales. If one strayed too far left or right, the other would move beside him and take all sales from the rest of the boardwalk.
In 2016, Trump harnessed many of these frustrations, as did Bernie Sanders. If anything, the frustrations today are larger than they were then. Corporate profits are higher, as is CEO pay. Markets are more concentrated. The three richest Americans now have more wealth than the bottom half of the population put together. Yet most peoples' pay has gone nowhere and they have even less job security.
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