Surprise, surprise. Workers in Britain, many of whom have seen a decline in their standard of living while the very rich in their country have become much richer, have turned their backs on the European Union (EU) and a globalised economy that is failing them and their children.
And it’s not just the British who are suffering. That increasingly globalised economy, established and maintained by the world’s economic elite, is failing people everywhere. Incredibly, the wealthiest 62 people on this planet own as much wealth as the bottom half of the world’s population — around 3.6 billion people. The top 1 per cent now owns more wealth than the whole of the bottom 99 per cent. The very, very rich enjoy unimaginable luxury while billions of people endure abject poverty, unemployment and inadequate health care, education, housing and drinking water.
Could this rejection of the current form of the global economy happen in the United States? You bet it could.
During my campaign for the Democratic presidential nomination, I’ve visited 46 states. What I saw and heard on too many occasions were painful realities that the political and media establishment fail even to recognise.
In the last 15 years, nearly 60,000 factories in America have closed and more than 4.8 million well-paid manufacturing jobs have disappeared. Much of this is related to disastrous trade agreements that encourage corporations to move to low-wage countries.
Despite major increases in productivity, the median male worker in America today is making $726 (Dh2,670) less than he did in 1973, while the median female worker is making $1,154 less than she did in 2007, after adjusting for inflation.
Nearly 47 million Americans live in poverty. An estimated 28 million have no health insurance, while many others are underinsured. Millions of people are struggling with outrageous levels of student debt. For perhaps the first time in modern history, our younger generation will probably have a lower standard of living than their parents. Frighteningly, millions of poorly educated Americans will have a shorter life span than the previous generation as they succumb to despair, drugs and alcohol.
Meanwhile, in America, the top one-tenth of 1 per cent now owns almost as much wealth as the bottom 90 per cent. Fifty-eight per cent of all new income is going to the top 1 per cent. Wall Street and billionaires, through their “super PACs,” (Political Action Committees) are able to buy elections.
On my campaign, I’ve talked to workers unable to make it on $8 or $9 an hour; retirees struggling to purchase the medicine they need on $9,000 a year of Social Security; young people unable to afford college. I also visited the American citizens of Puerto Rico, where some 58 per cent of the children live in poverty and only a little more than 40 per cent of the adult population has a job or is seeking one.
Let’s be clear. The global economy is not working for the majority of people in our country and the world. This is an economic model developed by the economic elite to benefit the economic elite. America needs real change.
But we do not need change based on the demagogy, bigotry and anti-immigrant sentiment that punctuated so much of the Leave campaign’s rhetoric in Britain — and is central to Donald Trump’s message in the US.
America needs a president who will vigorously support international cooperation that brings the people of the world closer together, reduces hypernationalism and decreases the possibility of war. America also needs a president who respects the democratic rights of the people and who will fight for an economy that protects the interests of working people, not just Wall Street, the drug companies and other powerful special interests.
America needs to fundamentally reject its “free trade” policies and move to fair trade. Americans should not have to compete against workers in low-wage countries who earn pennies an hour. It must defeat the Trans-Pacific Partnership. It must help poor countries develop sustainable economic models. America needs to end the international scandal in which, large corporations and the wealthy avoid paying trillions of dollars in taxes to their national governments.
America needs to create tens of millions of jobs worldwide by combating global climate change and by transforming the world’s energy system away from fossil fuels.
America needs international efforts to cut military spending around the globe and address the causes of war: Poverty, hatred, hopelessness and ignorance.
The notion that Trump could benefit from the same forces that gave the Leave proponents a majority in Britain should sound an alarm for the Democratic Party in the US. Millions of American voters, like the Leave supporters in Britain, are understandably angry and frustrated by the economic forces that are destroying the middle class.
In this pivotal moment, the Democratic Party and a new Democratic president need to make clear that we stand with those who are struggling and who have been left behind. We must create national and global economies that work for all, not just a handful of billionaires.
— New York Times News Service
Bernie Sanders, a Senator from Vermont, is a candidate for the Democratic presidential nomination.