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A NOTE FROM THE PRODUCER
Claudia Hernández is a Producer for the Stay Tuned and Insider podcasts.
This week on the Stay Tuned podcast, Nobel Prize-winning economist Daron Acemoglu joins Preet Bharara to discuss his latest book: What Happened to Liberal Democracy? Remaking a Politics of Shared Prosperity.
Acemoglu explains American politics is undergoing a moment of crisis and, in moments of crisis, people want change.
Acemoglu: “A lot of the politics of both left and right cannot be understood but through the lens of that crisis. That crisis creates a strong anti-establishment feeling. And one aspect of the anti-establishment feeling on the Left is to find more radical labels.”
With this in mind, the Democratic socialist movement can be seen as a natural response to the current political turmoil. However, Acemoglu argues defining terms like “socialism” correctly is key to getting people on board.
Acemoglu: “I think today when people call themselves democratic socialists, it’s a bit unclear whether they are in favor of a more radical economic agenda based on redistribution of opportunities or whether they are still aspiring for partial nationalisation of means of production. That’s why I think it’s not a particularly good label, especially in the US context where the public’s sympathy for socialist ideas has always been weaker than in Europe.”
Though “radical ideas” are welcome, Acemoglu believes the solution should not stray too far from the foundational principles of liberalism.
Acemoglu: “We do need some radical ideas as well as a new governing philosophy for liberalism and liberal democracy. But it would be unfortunate if that objective conflicted with other core liberal principles like freedom of speech, pluralism, inclusivity, and if it took the form of looking at the world always through oppressor-oppressed dynamics, which I think ultimately is not very inviting for liberalism’s best instincts to develop, and it creates backlash.”
Listen to the episode to hear more of Acemoglu’s analysis and, as always, comment below with your thoughts and questions.
Cover image photo credit: Costas Baltas/Anadolu via Getty Images
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