The Search for a New Order
The Chinonomist
21

Interesting …

Recommend a very good article in Foreign Affairs by Jeff Colgan and Robert Keohane, The Liberal Order is Rigged. Foreign Affairs, May/June 2017.

Problem is that capitalism hijacked globalization. “Economic elites designed international institutions to serve their own interests and to create firmer links between themselved and governments. Ordinary people were left out.” [p. 37]

Elites have taken advantage of global order to enrich themselves while they have not shared the wealth with middle and lower classes.

“The result of such policies has been to undermine what the political scientist John Ruggie once called “embedded liberalism”: a global order made up of free-market societies that nevertheless preserved welfare states and labor-market policies that allowed for the retraining of people whose skills became obsolete, compesation for those who lost out from trade liberalization, and validation of the self-worth of all citizens, even if they were not highly productive in economic terms.” [pp 38–39] Elites supported and benefited from the first part but ignored the second part. Hence here we are. The rich benefit from globalization at the expense of the middle and lower classes.

Remember the French Revolution…

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