New York and the New Economic Populism

GERRARD BUSHELL COLORFighting inequality is the central message of Public Advocate Bill DeBlasio’s campaign. His tale of two New York’s elevated him to the status of frontrunner, and positioned him to become New York’s first Democrat to win the mayoralty since 1989. The campaign’s pivot left represents a clean break from Mayor Bloomberg, and it establishes him as an economic populist who has pulled together an electoral coalition around the divide between rich and poor.

After three terms in office, Mayor Bloomberg’s grip as the dominant figure in New York politics is at an end. He presented himself as independent, pragmatic, and non-ideological. However, public opinion shifted against Bloomberg as New Yorkers began perceiving his policies as favoring the rich over the middle class and poor. Bloomberg lowered crime rates, and attracted private investment for education and economic development; however, the strain of living in a city that was unaffordable had become an inescapable reality to most New Yorkers.

The Great Recession, a widening gulf between rich and poor, and high housing costs brought the issue of economic inequality to the center New York politics. DeBlasio’s tale of two New York’s mobilized poor, working class, and middle class people of different races and ethnicities in each of the boroughs. In addition, changing economic conditions coupled with a grassroots campaign helped DeBlasio overcome the fault lines that undermined the campaigns of Bronx Borough President Fernando Ferrer who introduced the tale of two New York’s in the 2001 Democratic mayoral campaign, and resurrected it amidst great criticism in the 2005 general election.

As DeBlasio brings his message to the broader general electorate, voters continue to show strong support for his desire to fight income inequality, and high housing costs according to a poll conducted by the New York Times and Siena College. New Yorkers are also showing strong support for his plan to tax high-income earners to pay for the expansion of prekindergarten education. The poll also shows his tale of two New Yorks is unifying broad sections of the city’s population into a competitive electoral coalition, and a massive 50 point lead over the Republican Joseph Lohta.

Holding an insurmountable lead in the polls, DeBlasio has begun to transition the electoral coalition into a governing coalition. He is beginning the balancing act of expanding his liberal base. He has reached out to business interests across the city, and praised some of Mayor Bloomberg’s economic policies while continuing to call attention for a more equitable and populist city. He is demanding all economic development projects receiving city subsidies pay living wages. He is also calling for higher wages for city workers, and greater attention to the “crisis of affordability.”

With the wind at his back, DeBlasio is positioned to re-imagine a city where growth and equity can be the twin pillars of his governing strategy. Voters have a strong desire to elect a mayor who will tackle the questions of income inequality, housing, and schools. The door is now open to economic populism.

Gerrard P. Bushell, Ph.D. is a consultant who has worked in investment management, government, and non-profit sectors. He advises corporations, state and local governments, and non-profits on investment solutions.

Scroll to Top