Michael Lind: Democrats Can’t Occupy Wall Street

Michael Lind is Policy Director of the Economic Growth Program at the New America Foundation and is the author of "The Next American Nation: The New Nationalism and the Fourth American Revolution."

Can the Occupy Wall Street movement do for the Democrats what the Tea Party has done for the Republicans? Will a spontaneous grass-roots uprising against the rich neutralize the manipulated “Astroturf” Tea Party movement’s assault on big government, assure a second term for Barack Obama and lead to the new New Deal that progressives have been waiting for?

Alas, probably not. Ever since Richard Nixon won his reelection victory in 1972 by appealing to many of the discontented populists attracted to George Wallace, the Republican Party, formerly a party of big city boardroom types and small-town Rotarians, has been based at least in its rhetoric on right-wing populism. The Tea Party movement is merely an extreme exaggeration of the mainstream GOP.

But the Democrats since George McGovern captured the party’s presidential nomination in the same fateful year of 1972 have been the opposite of a left-wing populist party. Thus while right-wing populism reinforces the existing Republican story about America, any genuine left-wing populism would challenge the basic constituencies and values of the McGovern-to-Obama Democrats. There are six reasons in particular why Democrats are unlikely to benefit as much from populism as Republicans.

Reason No. 1: The Democrats depend on Wall Street for campaign donations. Both national parties are captured to a large degree by financial industry contributors. But this is not as much of a problem for the Republicans as for the Democrats. Since Nixon, the Republicans have successfully channeled anger away from Big Money to Big Government. They have done so by manipulating the classic populist paradigm of producers vs. parasites. They have treated private sector workers, business owners and investors as allies in a common struggle of producers against parasitic public sector employees and poor people dependent on welfare....