Economists warn that whatever can’t go on, won’t. That’s why there’s a crackup coming on the left.
Consider the Reuters report that begins: “Hillary Clinton, under pressure from the left wing of her Democratic Party to aggressively campaign against income inequality, voiced concern about the hefty paychecks of some corporate executives in an email to supporters.”
Hillary, who earns hundreds of thousands of dollars to make two-hour long speeches, is incensed that CEOs make lots of money. Yawn.
The real news in the report comes when the international president of the United Steelworkers union weighs in. Leo Gerard was taking part in what Reuters calls, “a conference of the BlueGreen Alliance, a coalition of large labor unions and environmental groups.”
Wait — how are those groups aligned?
Steelworkers exist to make things. In a word, steel. They use a process that requires lots of energy and produces lots of pollution.
Environmental groups exist to oppose making things, such as steel, since doing so produces so much pollution.
Perhaps these different groups can make a temporary truce. Perhaps they’re both so “Ready for Hillary” that they’re ready to put aside their differences for a while and unite to oppose high CEO pay. Perhaps.
But eventually, since their reasons for existing are diametrically opposed, they have to come apart. The unions will need to push to make things; the enviros will need to push to stop making things.
When that happens, it’ll be interesting, regardless of which party is in power.