This week, Americans will head to the polls to vote in the most important midterm elections in recent memory. The big question is whether we will see the predicted “blue wave” of angry Democrats take back control of the House of Representatives. If they do, pundits will proclaim the end of the Trump era. In fact, it will only be the next stage of a challenge for Democrats, who remain split between old establishment figures such as Nancy Pelosi, who could become the first House speaker in six decades to regain her position, and progressives, including Elizabeth Warren, Bernie Sanders and their younger acolytes such as Alexandria Ocasio-Cortez. It is a split that reflects a serious sin of the Democratic Party: failure to stand up to corporate interests. Since the 1990s, progressives have too often simply nipped and tucked Republican ideas about trade or capital markets or healthcare to make them a bit kinder and gentler. At other times, they have crafted policies that have backfired —...

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