Sometimes It Isn’t the Economy, Stupid
Whether in Hong Kong or Kashmir, government handouts aren’t going to quell protests.
Protesters fear the loss of their autonomy and identity.
Photographer: Billy H.C. Kwok/Getty Images
Across the world, a misapprehension about politics seems to unite the authoritarian right and the neo-socialist left. And it is one that has long been associated with centrists, ever since Bill Clinton rode a pithy aphorism to the White House in 1992: It’s the economy, stupid.
Last week, the Hong Kong government put forward a stimulus package that, in spite of denials, was clearly designed to address the economic grievances officials see as the root cause of weeks of street protests. Students will receive an annual subsidy of HK$2,500 (around $320), while a onetime HK$2,000 handout will help households pay their electricity bills. Taxes were cut. Low-income tenants in public housing will have their rents forgiven for a month.