ilric333 - The Clinton wing of the Democratic Party argued...

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The Clinton wing of the Democratic Party argued that the economy could achieve sustained growth only if markets were allowed to operate unfettered and globally. According to LOUIS UCHITELLE in “Here Come the Economic Populists” Overcoming protests from labor unions, a traditional constituency, the Clinton administration vigorously supported free trade agreements like Nafta and agreed to China’s admission into the World Trade Organization. If there was damage to workers, the Clinton administration proposed dealing with it after or occurred through wage insurance, for example, or worker retraining and other safety-net measures. This approach coincided with a period of economic prosperity, low unemployment and falling deficits. It came to be known as “Rubinomics” and became the Democratic establishment’s accepted model for the future. “Rubinomics” is no longer the Democrat’s accepted model. A significant number of Congressional Democrats now advocate an alternative “economic populist” perspective. Unlike “Rubinomics” economic populism includes free trade, a fundamental
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This note was uploaded on 05/19/2008 for the course ILRIC 4330 taught by Professor Turnerl during the Spring '06 term at Cornell.

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ilric333 - The Clinton wing of the Democratic Party argued...

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