If liberal public policy intellectuals are unable develop “a clear program to refashion capitalism and globalization for the twenty-first century,” Rodrik warns, “the field will be left wide open for populists and far-right groups who will lead the world – as they always have – to deeper division and more frequent conflict.”

If current trends continue, not only will there be a class inversion among the white supporters of the Democratic Party, but the party will become increasingly dependent on a white upper middle class that has isolated itself from the rest of American society.

Instead of serving as the political arm of working and middle class voters seeking to move up the ladder, the Democratic Party faces the prospect of becoming the party of the winners, in collaboration with many of those in the top 20 percent who are determined to protect and secure their economic and social status.