An Argument for A New Labor Party

The left-wing surge of the U.S. working class during the Great Depression of the 1930s compelled the Democratic Party to prioritize serving the working class more than it had before or would again. It was called the New Deal. In response, the US employer class, angry that taxes on corporations and the rich were used to fund government programs for the people, turned to the Republican Party after World War II ended in 1945 and directed it to roll back the New Deal, reducing or eliminating all it had accomplished. Because the New Deal made the great mistake of leaving profits in the hands of employers, the employers used those profits to provide Republicans with the means to defeat the Democrats and roll back the New Deal. In response, the Democrats sought funding, finding it in the hands of many donors who had supported the Republicans. For many years, the U.S. was led by one party or the other: the GOP rolled back the New Deal faster, while the Democrats did so more slowly—one ruling class, two parties to serve it. The 2008 Great Recession ended the cozy system, as both parties had to protect the privileges of the corporations and the rich, even as the US empire and economy declined. As the mass of people suffered and neither the GOP nor the Democrats stopped it, people became desperate and elected Trump out of rage and hysteria. He did not and will not solve the fundamental problems any more than his predecessors did. For that, a genuinely new and different political party is needed — one that puts the American Working People First, the American majority. The program concludes with suggestions on how such a new party could truly transform the country and address its most pressing problems. The d@w Team Economic Update with Richard D. Wolff is a DemocracyatWork.info Inc. production. We make it a point to provide the show free of ads and rely on viewer support to continue doing so. You can support our work by joining our Patreon community: https://www.patreon.com/democracyatwork Or you can go to our website: https://www.democracyatwork.info/donate Every donation counts and helps us provide a larger audience with the information they need to better understand the events around the world they can't get anywhere else. We want to thank our devoted community of supporters who help make this show and others we produce possible each week. We kindly ask you to also support the work we do by encouraging others to subscribe to our YouTube channel and website: www.democracyatwork.info