Obama and Clinton

"Third Way" politics and the "Left"

FOR THE “LEFT” that is critical of him, the most common comparison made of Obama is to Bill Clinton. This critique of Obama, as of Clinton, denounces his “Centrism,” the trajectory he appears to continue from the “new” Democratic Party of the Democratic Leadership Council (DLC) expressed by Clinton and Gore’s election in 1992. Clinton’s election was seen as part of the triumph of “Third Way” politics that contemporaneously found expression in Tony Blair’s “New” Labour Party in Britain. [Read More]

Iraq and the election

The fog of "anti-war" politics

BARACK OBAMA HAD, UNTIL RECENTLY, made his campaign for President of the United States a referendum on the invasion and occupation of Iraq. In the Democratic Party primaries, Obama attacked Hillary Clinton for her vote in favor of the invasion. Among Republican contenders, John McCain went out of his way to appear as the candidate most supportive of the Bush administration’s policy in Iraq. Looking towards the general election, it is over Iraq that the candidates have been most clearly opposed: Obama has sought to distinguish himself most sharply from McCain on Iraq, emphasizing their differences in judgment. [Read More]

Finance capital

Why financial capitalism is no more "fictitious" than any other kind

WITH THE PRESENT FINANCIAL MELT-DOWN in the U.S. throwing the global economy into question, many on the “Left” are wondering again about the nature of capitalism. While many will be tempted to jump on the bandwagon of the “bailout” being floated by the Bush administration and the Congressional Democrats (including Obama), others will protest the “bailing out” of Wall Street. The rhetoric of “Wall Street vs. Main Street,” between “hardworking America” and the “financial fat cats,” however, belies a more fundamental truth: the two are indissolubly linked and are in fact two sides of the same coin of capitalism. [Read More]