Billionaire donors are pushing an unsettling agenda for America – backing Trump’s lie that the 2020 election was stolen, calling for restrictions on voting and even questioning the value of democracy itself
Decades ago, America’s monied interests bankrolled a Republican establishment that believed in fiscal conservatism, anti-communism and constitutional democracy.
Today’s billionaire class is pushing a radically anti-democratic agenda for America – backing Trump’s lie that the 2020 election was stolen, calling for restrictions on voting and even questioning the value of democracy.
The 1920s were the last decade in American history during which one could be genuinely optimistic about politics. Since 1920, the vast increase in welfare beneficiaries and the extension of the franchise to women – two constituencies that are notoriously tough for libertarians – have rendered the notion of “capitalist democracy” into an oxymoron.
Robert Reich, a former US secretary of labor, is professor of public policy at the University of California at Berkeley and the author of Saving Capitalism: For the Many, Not the Few and The Common Good. His new book, The System: Who Rigged It, How We Fix It, is out now. He is a Guardian US columnist. His newsletter is at robertreich.substack.com