Nobel Prize-winning economist Prof. Dr. Daron Acemoğlu stated that the re-election of Trump would lead the United States into a period filled with uncertainty. He emphasized that it would be more accurate to view the election results as a loss for the Democrats rather than labeling it as “Trump’s victory.”
Nobel Prize-winning economist Prof. Dr. Daron Acemoğlu, the first scientist from Turkey to be awarded the Nobel Prize in Economics, shared his concerns and criticisms regarding Donald Trump’s re-election as president of the United States through statements on the social media platform X. Acemoğlu expressed his sadness over Trump’s election, believing that turbulent and uncertain years await the U.S.
He noted that it is more appropriate to view this situation not as a “Trump success” but as an election lost by the Democrats. Acemoğlu emphasized that the Democratic Party has fallen short in its policies aimed at the working class, stating, “The Democrats lost their identity as the party of workers long ago due to their support for digital disruption, globalization, large migration movements, and populist ideas.”
Acemoğlu pointed out that instead of supporting the working class, the Democratic Party has shifted its focus towards professional managers in large cities, minorities, and Silicon Valley, which he described as an unhealthy coalition that has created a distance between the working class and the middle class within the party. He remarked that despite the clear message from workers in the 2016 elections, the Democratic Party failed to internalize this situation and take appropriate actions.
He expressed his belief that the Democratic Party elites are disconnected from the working class, lacking an understanding of the realities of their daily lives. Acemoğlu posed the question, “Would a Democratic elite prefer to spend four hours with a Midwestern American worker or with a professionally educated manager?” indicating that most Democrats have distanced themselves from workers.
In his statements, Acemoğlu criticized the Democratic Party for focusing on incorrect strategies and moving away from addressing the needs of the working class. He expressed concern over the Republican Party, led by Trump and Vance, becoming the new center for the working class.
He specifically noted that he believes workers in small towns and the manufacturing sector will shift towards the Republican Party, warning that if the Democratic Party fails to read this message correctly again, it could completely lose its influence over the working class.
Despite the Biden administration adopting pro-worker policies, Acemoğlu stated that the working class has not been won over due to the insufficient support for these policies from the elites within the Democratic Party. He pointed out that the Democrats have not distanced themselves from Silicon Valley and global capital, which has further alienated them from workers.
Prof. Dr. Daron Acemoğlu expressed that the contradictory policies of the Democrats are concerning for the future of the U.S., emphasizing that contrary to the perception that Trump supports the working class, his policies largely benefit “plutocrats.”
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