Obama isn’t “caving” to the economic right–because he’s part of it

FDR, Reagan, and Obama
by Paul Krugman

Some readers may recall that back during the Democratic primary Barack Obama shocked many progressives by praising Ronald Reagan as someone who brought America a “sense of dynamism and entrepreneurship that had been missing.” I was among those who found this deeply troubling – because the idea that Reagan brought a transfomation in American dynamism is a right-wing myth, not borne out by the facts. (There was a surge in productivity and innovation – but it happened in the 90s, under Clinton, not under Reagan).

All the usual suspects pooh-poohed these concerns; it was ridiculous, they said, to think of Obama as a captive of right-wing mythology.

But are you so sure about that now?

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