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victims of an economic system that fundamentally doesn't believe in shared prosperity
Yes but there is also something else happening. "The West" has given up on being competitive for manufactured goods in a globalised economy because it cannot compete with Chines wage rates. Thus, out of economic necessity, there has been a flight (upmarket, or up the economic food chain in the value-laden jargon) from blue collar to white collar jobs - with blue collar workers seen as dead-enders who will never compete with the Chinese.
However, now, Globalisation has moved into a new phase with even white collar clerical, accountancy, administration and many other jobs being outsourced to India etc. - so that, finally, globalisation has become a middle class issue as well - which can lead to a new blue/white collar alliance.
With even capital now fleeing the USA for more profitable havens there is the basis for a broadly based, nationalist alliance against global capital. However it has a lot of cultural/ethnic/class barriers to overcome before it can be a reality on the ground. Perhaps that is part of the dynamic which is driving Obama forward.
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