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Elizabeth Warren wants to remake American capitalism

November 21, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As it stands, the Democratic front-runner’s programme has too little time for markets or business

 

Elizabeth warren is remarkable. Born into a struggling family in Oklahoma, she worked her way up to become a star law professor at Harvard. As a single mother in the 1970s, she broke with convention by pursuing a full-time career. In an era of rule-by-tweet, she is an unashamed policy wonk who is now a front-runner to be the Democratic nominee for president in 2020. Polls suggest that, in a head-to-head contest, more Americans would vote for her than for Donald Trump.

 

But as remarkable as Ms Warren’s story is the sheer scope of her ambition to remake American capitalism. She has an admirably detailed plan to transform a system she believes is corrupt and fails ordinary people (see article). Plenty of her ideas are good. She is right to try to limit giant firms’ efforts to influence politics and gobble up rivals. But at its heart, her plan reveals a systematic reliance on regulation and protectionism. As it stands, it is not the answer to America’s problems.

 

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