The main worry about Mr Webb, however, is that he is a genuine fire-breathing economic populist. He appears actually to believe the sort of stuff that Mr Obama only says during Democratic primaries. Since vice-presidents sometimes become presidents, this matters. American workers, says Mr Webb, "are at the mercy of cut-throat executives who are vastly overpaid, partly as a consequence of giving [the workers'] jobs away to other people." Illegal immigration and globalisation "threaten to dissipate" the American middle-class way of life. He predicts that, unless the government acts to restore "economic fairness", America "may well go the way of ancient Greece [or] greed-ridden Rome".

The article concludes, thankfully, with the following statement:

America may be horribly unequal, but it is not, as Mr Webb imagines, apocalyptically so. And judging by his book, Mr Webb has only a shaky understanding of the economic system he decries. He thinks South Korea is more productive than America, and that "most" investors are among the wealthiest 1% of Americans. (In fact, about half of Americans own shares.) He is worryingly hazy about how he would make America fairer. But his instincts are plainly hostile to the free flow of goods, investment and people across borders. Mr Obama, who has recently started to sound less protectionist on the campaign trail and has appointed a team of impeccably centrist economic advisers, can surely do a bit better.

Or, on second thought, not so thankfully; Mr. Webb would pose a very interesting candidacy for those of us who are right-of-center.

Source: The class warrior
Jun 19th 2008
From The Economist print edition