Growing up, I was taught to dislike the American flag and all that it represented.
This year, for the first time, I hung one outside my house.
The Free Press
A populist revolt has been brewing among the American left since the global financial crisis dealt a severe economic shock to young college graduates.
The surprising primary win of 33-year-old Democratic Socialist Zohran Mamdani in New York City’s mayoral primary is the latest manifestation of their economic frustration.
Many children of middle- and upper middle-class households went to college expecting to have a career that brought wealth and status. But there are a limited number of “elite” jobs. The result is a surplus of aspiring elites who end up resentful and blame a system they deem unfair.
University of Connecticut professor emeritus and complexity scientist Peter Turchin argues that past periods of social unrest were due to an overabundance of disappointed elites. It also explains recent bouts of populism, including theOccupy Wall Street movement.
Allison Schrager Bloomberg 3 July 2025
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