Jeff Faux's "The Myth of the New Democrats" (TAP, Fall 1993) is illuminating--but in unintentional ways. It highlights the unresolved tension in The American Prospect's editorial persona: though dedicated to rethinking old liberal assumptions, the magazine often shies from conclusions that defy liberal orthodoxy. TAP thus oscillates between earnest stabs at policy innovation and purse-lipped attempts to suppress heresy and enforce liberal dogma. Faux's polemic falls in the latter category.
Every economic system develops a politics around the institutions and rules that govern it. The economic system now being created by the relentless merging of the world's markets will be no exception. But what global politics will emerge to match the new global economy?