IN A trenchant, unapologetically centrist essay for The Economist Barack Obama has urged the next president to shun the “crude populism” being peddled by both the right and the left, and to ensure that the American economy remains open to the world. In what is, in effect, an open letter to his successor on how to navigate a time of voter rage, Mr Obama argues that politicians calling for “anti-immigrant, anti-innovation protectionism” are forgetting an all-American principle—that when businesses remember the common good as well as profits, and free markets avoid unhealthy concentrations of power: “capitalism has been the greatest driver of prosperity and opportunity the world has ever known.”
No living politicians are named, but the open letter contains unmistakable rebukes for Hillary Clinton’s recent, campaign-trail flirtations with anti-trade rhetoric, as well as swipes at those—starting with Bernie Sanders on the left, and Donald Trump on the right—who call the American economy rigged, and demand it be...Continue reading
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