Populism, Elitism, and Social Security Reform

Louis Woodhill

In his brilliant 1992 book, Populism and Elitism: Politics in the Age of Equality, Jeff Bell points out that the basic political dynamic has shifted from “Left vs. Right” to “Populist vs. Elitist”. To paraphrase, Bell defines “Populism” as the belief that ordinary people can make wiser decisions about their own lives than can elite “experts”. “Elitism”, then, is the belief that experts can be counted on to make wiser decisions concerning the lives of ordinary people than those people can make for themselves. The current debate about Personal Social Security Accounts (PSSAs) basically comes down to Populism vs. Elitism. PSSAs are Populist—they put money, power, and control in the hands of ordinary people. No matter how they are packaged or disguised, the arguments against PSSAs are basically Elitist. For example, it is Elitists who argue that low-wage workers cannot be trusted to manage PSSAs patterned upon the Thrift Savings Plan that Congressmen enjoy. Populism has the virtue of being objectively correct. It also wins elections. Because we are fighting for a Populist cause, we must not waiver in our fight for large, “uncapped” PSSAs and we need not compromise with those pushing for tax increases. Unlike our Elitist foes, we can, if necessary take the issue into the 2006 elections, gain more seats in both the House and the Senate, and push real, Populist, Social Security reform through in 2007.
Posted by Louis Woodhill on March 18, 2005 11:22 AM to Social Security Choice