They have backed all three major parties in general elections in the last twenty years [2].
[1] https://en.wikipedia.org/wiki/The_Orange_Book:_Reclaiming_Li...
[2] https://en.wikipedia.org/wiki/The_Economist_editorial_stance...
For the UK i see them clearly as hardcore liberal democrats.
I think that in the south Europe political landscape they would be orphaned as there even the center parties are not very economically liberal.
the economist takes a conventional stance of promoting policies that favor the already wealthy. that facet of it is rather banal and certainly not where the exciting ideas for the next millennia are going to emerge from.
I think it’s unfair to say they support policies that favor the already wealthy. Certainly they do sometimes, but they’ve opposed tax cuts, supported minimum wage increases, etc. I’m ready to be proven wrong but I haven’t got that impression when I read it.
it's not unfair to call a spade a spade. opposing tax cuts can be done for a myriad of supportive or unsupportive reasons, so that doesn't provide a useful counter-argument.
and "minimum wage increases" sounds great on the surface. but the underlying purpose of a minimum wage is to paper over gross systemic equities that have only grown over time and keep us from even discussing policies for creating more fair and dynamic markets that would naturally distribute wealth more widely and efficiently, and neatly obviate such a distortion-producing bandaid of a policy.
but the central point is that no significant party and nearly no politician is addressing systemic issues that has promoted winner-take-all dynamics in our politicoeconomy for at least the last 50 years. even obamacare was so browbeaten and laden with special interest provisions, our healthcare costs have only soared, all to append zeroes onto bank accounts that abosolutely don't need, and more pointedly don't deserve, them.
This is a made up problem that came from economists high on their own models. Empirical evidence shows that minimum wage increases in the US have almost none of the distorting effects they would supposedly have. The response from economists has been to make up new models that show it's okay actually, up to ~60% of median wage.
Some countries like the Nordics have high incomes despite no minimum wage (they have sectoral bargaining unions instead) but they should probably get one since it increases productivity a little. And Australia's federal minimum wage is still higher than any locality in the US and yet causes no problems.
I imagine there is 'evidence' out there but the empirical claim is quite intriguing. Do you have any sources for this?
https://noahpinion.substack.com/p/why-15-minimum-wage-is-pre...
https://noahpinion.substack.com/p/the-minimum-wage-pushback
One thing that might disappoint people is that increasing minimum wage isn't the best way to reduce poverty in the US, for the simple reason that most poor people aren't wage laborers. And not unemployed either - they're children and the elderly. Child allowances seem like they'll be very effective here, unless you don't trust their parents to use it well.
(Not /s, but also not not /s?)