American politics is having a populist moment, with voters angry and frustrated with all big institutions in American life.

The populist backlash against big government found its expression on the right with the Tea Party. The tensions between that movement and the Republican establishment have been on full display.

This week saw similar tensions arise among Democrats, starting with an op-ed in the Wall Street Journal by the leaders of the centrist Democratic think tank Third Way. Jim Kessler, one of the co-authors, called economic populism a dead end for Democrats.

"We wrote this because there needs to be a serious discussion — and this seems to be the right time to have it — about what we're going to be doing with entitlements and inves ... Read more »