Memo to Media: Populism Is a Rebellion Against Corporate Power -- It's Not Just Stupid, Raw Anger

When I lived in Washington, DC, in the 1970s, I got a call from a friend of mine who worked for the Congressional Research Service--a legislative agency that digs up facts, prepares briefing papers, and otherwise does research on any topic requested by members of Congress.

My friend could barely speak, because he was hooting, howling, and guffawing over a research question he'd just received. It was from the office of Sen. Lloyd Bentsen, the aloof and patrician Texas Democrat who was known on Capitol Hill primarily as a faithful emissary for Wall Street interests. At the time, Bentsen was contemplating a run for the presidency, and apparently he was searching for a suitable political identity. "What is a populist?" read the research query. "The senator thinks he might be one."

Uh...no sir, you are not.

Bentsen was closer to being "The Man in the Moon" than he was to being a populist. Yet, he was hardly alone in trying to cloak himself as "The People's Champion" while remaining faithful to the plutocratic powers. These days, there's a whole flock of politicos and pundits doing this--from Sarah Palin to Rush Limbaugh, Newt Gingrich to Glenn Beck.

They are abetted by a media establishment that carelessly (and lazily) misapplies the populist label to anyone who claims to be a maverick and tends to bark a lot. Although the targets they're usually barking at are poor people, teachers, minorities, unions, liberals, protestors, environmentalists, gays, immigrants, or other demonized groups that generally reside far outside the center of the power structure--the barkers are indiscriminately tagged as populist voices.

First of all, populism is not a style, nor is it a synonym for "popular outrage." It is a historically grounded political doctrine (and movement) that supports ordinary folks in their ongoing democratic fight against the moneyed elites.

The very essence of populism is its unrelenting focus on breaking the iron grip that big corporations have on our country--including on our economy, government, media, and environment. It is unabashedly a class movement. Try to squeeze Lord Limbaugh into that philosophical suit of clothes! He's just another right-wing, corporate-hugging, silk-tie elitist--an apologist for plutocracy, not a populist.

Fully embracing the egalitarian ideals and rebellious spirit of the American Revolution, populists have always been out to challenge the orthodoxy of the corporate order and to empower workaday Americans so they can control their own economic and political destinies. This approach distinguishes the movement from classic liberalism, which seeks to live in harmony with concentrated corporate power by trying to regulate its excesses.

We're seeing liberalism at work today in Washington's Wall Street bailout. Both parties tell us that AIG, Citigroup, Bank of America, and the rest are "too big to fail," so taxpayers simply "must" rescue the management, stockholders, and bondholders of the financial giants in order to save the system. Populists, on the other hand, note that it is this very system that has caused the failure-so structural reform is required. Let's reorganize the clumsy, inept, ungovernable, and corrupt financial system by ousting those who wrecked it, splitting up its component parts (banking, investment, and insurance), and establishing decentralized, manageable-sized financial institutions operating on the locallycontrolled models of credit unions, co-ops, and community banks.

A movement

Not only is American populism a powerful and vibrant idea, but it also has a phenomenal history that has largely been hidden from our people. The Powers That Be are not keen to promote the story of a mass movement that did--and still could--challenge the corporate structure. Thus, the rich history of this grassroots force, which first arose in the late 1870s, tends to be ignored entirely or trivialized as a quirky pitchfork rebellion by rubes and racists who had some arcane quibble involving the free coinage of silver.