There's a little bit of a blogswarm around Third Way's new report arguing against economic populism. One of the ways that power flows in DC is that well-funded groups do research that Congressional staffers can't do on their own, and then the research tilts policies the way that group wants. Third Way is such a group; it does a lot of polling and policy work, and presents it to staffers and lobbyists in simple digestible chunks. I'm a little obsessed with Third Way, because they are part of the whole LieberDem axis, a second generation younger and hipper version of the DLC.
They have attracted a following because they are able to provide seemingly credible and useful information. Their recent report, which Yglesias ably takes apart here, is an attack on Jim Webb and the politics that won the election in 2006. I'm not particularly interested in the wonky flaws of Third Way; it's the politics are fascinating. Now, I've never liked Third Way because their research is slanted towards pro-corporate policies that make no sense. It's not just that Jonathan Cowan, the President, is an avid Social Security privatizer. Third Way is explicitly set against the Democratic Party in their very conception and name, and doesn't engage in a wider public debate about their policies and ideas. It's a closed shop that operates through quiet closed corridors.
Judging from the board members of the group, this shouldn't be a surprise. According to the Wall Street Journal, 14 out of 18 of them "are current or former CEOs or investors including several hedge fund managers and the cohead of global equity trading at Goldman Sachs" (hopefully these people will begin to think better of their association with this group). And one of the group's founding donors, Andrew McKelvey, may soon be indicted for backdating stock options. The Third Way site has been scrubbed of McKelvey references, but I found the press release on a message board somewhere. McKelvey has a long history with Jonathan Cowan and Matt Bennett, funding their wholly unsuccessful group Americans for Gun Safety, the DLC of the gun control fight which lost pitifully to the NRA earlier this decade.
Anyway, this is what the LieberDems are up to these days - writing hack reports against winning Democratic messages financed by billionaires who are under investigation for defrauding their investors.
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