Money is walking away from the GOP. (Shown, Washington Post owner Jeff Bezos.)
This has been going on for some time. Silicon Valley, Seattle, Boston and New York, the places where money is made, generally vote for Democrats. They do this because Democrats deliver what technology wants. Tech runs on brains. It’s always in the market for more of them. Brains need training, they need to be empowered, they want to be recruited, they like to be comfortable.
This is the big economic change of our time, a move from resources to brains as the gating factor to growth. Resources need force to secure them. Manufacturing needs hands to run machines. Tech needs brains.
The news hasn’t gotten to everyone. Wall Street sharpies think they know more than the market. There are tech executives who want to corner the market on brains and think other brains are a threat.
These views are wrong for the economy.
Still. It’s hard for money to switch sides. The Republican Party is the natural home of money. That’s been true since the 1860s. For generations, however, money sided with progress. Progress is the root of the word progressive. Both Roosevelts ran as progressives. They wanted progress. So did most businesspeople.
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