Big-money donors are employing the “abundance agenda” to allow Democratic elites to dismiss the party’s much-needed populist revival.
Abundance liberalism proposes policies aimed at reducing bureaucratic obstacles and enhancing the production of housing and green energy.
A recent piece in The Nation by Ned Resnikoff suggests that supporters of “abundance” on the left provide a more sophisticated analysis of power relations than some of their critics. He supports this by explaining the program’s approach to increasing housing supply.
However, Resnikoff and others may not fully grasp the real reason for the backlash against this framework from the left.
Critics argue that the abundance agenda is a means for corporate-aligned interests to prevent the Democratic Party from embracing economic populism, a shift that is seen as overdue and necessary.
As a Democrat and former state representative, the shift toward embracing populism is viewed as crucial, echoing FDR’s opposition to financial monopolies and profiteering. Many Americans express dissatisfaction with failing economic and political institutions, desiring leaders who confront the perpetrators of these issues.
Amidst this dissatisfaction, some Democrats identify oligarchy as the primary adversary, with rallies occurring across various states. Leaders like Sanders and Ocasio-Cortez are prominent figures in this movement, supporting the rebranding towards economic populism, seen as vital for challenging Trumpism.
Despite growing populist sentiment, many Democratic elites resist labeling billionaires and corporations as adversaries, fearing the potential impact on their established alliances with these entities.
Opposition to terms like “oligarchy” is evident, with some Democrats arguing that such language is misunderstood by the public, despite polling indicating otherwise. Centrist voices claim that economic populism constitutes a “purity test” that should be avoided.
Think tanks and organizations funded by wealthy interests have been key supporters of the abundance framework. These interests aim to divert Democratic energies away from economic populism, seeing abundance proponents as instrumental in redirecting anti-establishment sentiment.
In an interview, Derek Thompson, a proponent of the abundance agenda, described its role as channeling public anger at the establishment toward constructive ends, such as addressing housing and energy issues, rather than against economic elites.
This perspective raises concerns that the abundance agenda is being used to weaken efforts to rebrand the Democratic Party away from its perceived inability to effectively champion working people.
Efforts to oppose the abundance agenda are seen as crucial in maintaining focus on economic populism. The debate within the Democratic Party continues, with centrists championing the abundance agenda and holding significant influence.
Addressing this internal conflict is viewed as imperative to achieving a populist renaissance within the party, as proponents argue for its potential to alter the Democratic reputation from a party seen as ineffectual in advocating for ordinary citizens.
