The WSJ editors explain that despite Mike Bloomberg’s “down-the-line cultural liberal,” his success in business may sink him as a candidate in the Democrat Party, which is now “increasingly detached from the private economy and wealth creation.” They write (abridged):
Mr. Bloomberg thinks he might have a chance.
As three-term mayor of New York, he has more executive experience than anyone of the field. As a successful entrepreneur, he understands the private economy better than any candidate other than John Delaney, also a former CEO. Those would both be significant campaign assets against Mr. Trump in a general election.
His bigger challenge would be getting the Democratic nomination.
Success in business is a liability on the Democratic left that is increasingly detached from the private economy and wealth creation. Progressives resent his wealth more than see it as a sign of ability.
Mr. Bloomberg also clashed with the teachers unions by promoting charter schools and teacher accountability in New York. And his stellar record in reducing crime, including support for such policies as stop-and-frisk, isn’t popular with the social-justice left.
On the other hand, Mr. Bloomberg is no conservative. He is a down-the-line cultural liberal, he has become the leading national financier for candidates who support gun control.
He is a zealot on climate change who would regulate coal out of business (we’re not sure about natural gas).
Read more here.