There was a mistake in the text: 77 million Americans voted for Trump, not 75. Thank you to the person on BlueSky that corrected me on that….Also I could kick myself for not thinking of air traffic control as an example of regulatory democracy, as Maggie Mason suggests below. Doh.!
Amen, don't disagree with a word. Whilst people instinctively calculate that fewer rules equate to more freedom, in reality nature abhors a vacuum. Someone has to be in charge and without rules it's the powerful.
For me the causal problem is that 'liberals' no longer comprehend what the project is – what constitutes the common good? They are incapable of explaining what rules do and who they protect. So if things turn south, rudderless technocrats simply go through the motions through force of habit.
Is Trump getting rid of traffic lights so that the few who own tanks do what they like as everyone else scatters, or, is he fixing the lights permanently to green in one direction? Anarchy, a police state, or maybe a bit of both?
I think a strong case against American democracy is its tolerance of abusive American foreign policy, including the recent genocide in Gaza and unrestrained NATO expansion that threatens the security of non-NATO countries. Look at how the US overthrew democratically elected governments in various countries (including Iran, Latin America an Ukraine) while upholding authoritarian regimes (Egypt, Jordan, Saudi Arabia, Ukraine).
Some liberals I respect have been criticising their fellow Americans for voting in Trump. But they seem to ignore completely how Trump secured a ceasefire in and is now trying to end the Ukraine-Russian conflict through negotiations. Do these count for nothing? It seems not to this American liberal (whom I respect).
I myself would not vote for Trump or Biden, but it’s because I care about human rights and the environment, and then tragedy of American “democracy” is that it gives its electorate an awful choice between two equally awful administrations.
The thing about complex systems is that once a threshold has been reached, the impact of the cascade is multiplicative not linear. Everything he identified in 1995 is now an order of magnitude worse than it was back then. He repeatedly warned: if we don't change, we're on the path to fascism. It is so depressing that a well-written, engaging bestseller from 1995 did precisely nothing to slow this cascade of monopoly power.
Agreed. Whilst equilibriums can exist, I think the economy (if there is such a thing) is best thought of in terms of a 'complex' rather than equilibrium system, with deterministic linear equations (of neoclassical economics) the wrong tool for the job. Like trying to cut you hair with a spoon.
Any non-linear system of with three or more dimensions is complex by definition. It is made worse because the metrics of economics, of inflation, of wage increases, of CPI and GDP are useless junk.
“ Acting on behalf of “lending institutions and moneyed incorporations” they are demolishing the slow, regulatory process of holding back rampant, extractive capitalism.”
If only we were dealing with something as simplistic as bandit capitalism or our daddy‘s era of fascism. This fascism is different than the fascism of Germany, Italy or Spain.
The men that bankrolled project 2025 that bank rolled the Heritage foundation that wrote it, bank rolled the economists who formulated neoliberalism, which was always an ask that a people surrender their sovereignty to totalitarian rule by wealth, they are organized with over 50 years of institutional / ideological development and social indoctrination under their belt.
But there are at least two factions to this ascendant fascism. The first is the Koch network, “old” wealth and its coalition of negatives (christo nationalists, paleo conservatives etc) and the second (progeny) clearly dominant faction, the PayPal mafia, an apartheid eugenist contingent with delusions of extinctionist Orwellian techno monarchy / colonialism
That mafia was directly motivated to ensure the GOP’s total victory in the 2024 election cycle because their fraudulent enterprises had come under investigation and threat of criminal prosecution by the Biden administration. They lavished hundreds of millions of dollars in support of Donald Trump and the GOP and leveraged their social platforms to frame and manipulate public opinion. Their desperate gambit paid off, paid off in spades.. the GOP is in total control of the federal government.
Elon Musk is the most obvious example of this with his many endeavors being investigated for all sorts of irregularities. The rest of the Silicon Valley gang are up to their eyeballs in crypto scams. David Sacks, Andreessen are clear examples of this.
But they aren’t simply replacing the federal government to their liking. They are not simply engaged in garden variety oligarchy, pillage or blood and soil fascism. They out for global genocide, so their seed inherits the earth. They repurpose the US government to wage war.
Musk has said Trump’s policies will destroy the US economy. They understand the consequences of what they are engaged in, and they are doing it deliberately to achieve that end. Normalizing this austerity, as if it’s a lack of comprehension, is sane washing genocide.
Great article, but I’m not sure why you put Milei and the Trump-Musk alliance in the same frame. I’m assuming you’re not advocating for a return to the Peronist - Kirchner populism that ruined Argentina? But on the USA, the direction and speed of change is terrifying. Trump is 78 and doesn’t have long to exploit the current world situation to the advantage of him and his cabal. You can see that an alliance of convenience with Russia would suit his aims. The traditional “western” allies, fractured and mired in their own populisms and ineffective leadership, can go swivel. Democracy is a messy and inconvenient business; here we are seeing at first hand how one change in a powerful partner turns the landscape upside down.
I certainly do not believe that a loose association of billionaires and millionaires are roto rooting and re plumbing all the non elected and regulatory sectors of the federal government at once for the sole benefit of WORKING CLASS people. Never happened before, ain't what's happenin' now.
Populism growing organically from the lower ranks, I'd be interested in checking out what THAT might look like. Populism inflicted from the top of our economic dogpile down, steered by silver spoon babies and employees of nouveau riche tech billionaires, not so much.
Ann good article. I do think our major political parties and virtually all our media are captured by moneyed interests. So I can't see much hope for democracy at present. I can't see the UK being able to resist following the US at present either. Neither of our major UK parties have enough independent thought or access to safe pools of money to finance and present a different way forward. Liberalism it seems contains the seeds of its own destruction while creating more social & ecological harm.
Great article! The only thing I'd quibble with is that I believe we are governed by oligarchic kleptocrats who have purchased elected politicians around the world who steal our public natural resources & commodities while enacting laws that perpetuate their power and wealth via tax loop (black)holes. Then, they take a chainsaw to any regulations that might crimp their monopolistic styles and markets in any way, shape, or form
To me what is going on looks like a split within the capitalist class as capitalists operating on the national market are out-competed by global operators. The neo-liberal framework was put in place to benefit the globalists. The nationalists now struggle to pull this framework down even if they do not have any clear concept of what is to follow. In Europe the 'Maastricht-EU' is hitting the wall.
I think there's a bargain going on here. The capitalist class of the US need the $$ to retain its value. If the BRICS (now 55% of the global population) figure out a trading system, the US will suffer a severe currency depreciation because there is very little production left once you take away the power of the dollar - a couple of defunct car companies. An airline that can't keep planes aloft. Some tech that has been outcompeted by China and *should* be heavily regulated in Europe. So, for me, I think they figured out a bargain - for the social conservative, traditional right (Bannon land), there is the promise of colour revolutions in Europe, tipping centrist Govs into fascist, authoritarian modes. For the capitalists - most of whom preside over financialised companies - my guess is that they're going to try & get Russian to sell gas using $$s. This will drive up demand & keep them safe while dropping global inflation in time for the midterms. I honestly see this as the bargain: authoritarian social conservatism throughout the West for Bannon, coupled with enhanced $$ demand to undermine the BRICS. If they get inflation down, they will do well in the midterms & then they can start extracting from their vassals (Canada, Mexico, Europe etc;). Thank God the new German chancellor appears to understand the threat and is not going to fall for it.
Thank you Ann. maybe issues with air traffic control as well as traffic lights?
There was a mistake in the text: 77 million Americans voted for Trump, not 75. Thank you to the person on BlueSky that corrected me on that….Also I could kick myself for not thinking of air traffic control as an example of regulatory democracy, as Maggie Mason suggests below. Doh.!
Amen, don't disagree with a word. Whilst people instinctively calculate that fewer rules equate to more freedom, in reality nature abhors a vacuum. Someone has to be in charge and without rules it's the powerful.
For me the causal problem is that 'liberals' no longer comprehend what the project is – what constitutes the common good? They are incapable of explaining what rules do and who they protect. So if things turn south, rudderless technocrats simply go through the motions through force of habit.
Is Trump getting rid of traffic lights so that the few who own tanks do what they like as everyone else scatters, or, is he fixing the lights permanently to green in one direction? Anarchy, a police state, or maybe a bit of both?
I think a strong case against American democracy is its tolerance of abusive American foreign policy, including the recent genocide in Gaza and unrestrained NATO expansion that threatens the security of non-NATO countries. Look at how the US overthrew democratically elected governments in various countries (including Iran, Latin America an Ukraine) while upholding authoritarian regimes (Egypt, Jordan, Saudi Arabia, Ukraine).
Some liberals I respect have been criticising their fellow Americans for voting in Trump. But they seem to ignore completely how Trump secured a ceasefire in and is now trying to end the Ukraine-Russian conflict through negotiations. Do these count for nothing? It seems not to this American liberal (whom I respect).
I myself would not vote for Trump or Biden, but it’s because I care about human rights and the environment, and then tragedy of American “democracy” is that it gives its electorate an awful choice between two equally awful administrations.
Not sure if you've read David Korten? I bought his book "How corporations rule the world" after seeing a random post by his wife on Bluesky. He wrote this book in 1995 and it explains everything that is wrong with our system today: https://www.awesomebooks.com/book/9781887208048/when-corporations-rule-the-world-uk-professional-business/used?gad_source=1&gclid=CjwKCAiAzvC9BhADEiwAEhtlN_heM3Df23BscQZEiRS2A0t9LN3nnf1qVQaFcicAafwz4IoWAHexOBoCG9sQAvD_BwE
The thing about complex systems is that once a threshold has been reached, the impact of the cascade is multiplicative not linear. Everything he identified in 1995 is now an order of magnitude worse than it was back then. He repeatedly warned: if we don't change, we're on the path to fascism. It is so depressing that a well-written, engaging bestseller from 1995 did precisely nothing to slow this cascade of monopoly power.
I have indeed read it Claire, but a long time ago…probably the late 90s, which seem an age away now...
Agreed. Whilst equilibriums can exist, I think the economy (if there is such a thing) is best thought of in terms of a 'complex' rather than equilibrium system, with deterministic linear equations (of neoclassical economics) the wrong tool for the job. Like trying to cut you hair with a spoon.
Any non-linear system of with three or more dimensions is complex by definition. It is made worse because the metrics of economics, of inflation, of wage increases, of CPI and GDP are useless junk.
“ Acting on behalf of “lending institutions and moneyed incorporations” they are demolishing the slow, regulatory process of holding back rampant, extractive capitalism.”
If only we were dealing with something as simplistic as bandit capitalism or our daddy‘s era of fascism. This fascism is different than the fascism of Germany, Italy or Spain.
The men that bankrolled project 2025 that bank rolled the Heritage foundation that wrote it, bank rolled the economists who formulated neoliberalism, which was always an ask that a people surrender their sovereignty to totalitarian rule by wealth, they are organized with over 50 years of institutional / ideological development and social indoctrination under their belt.
But there are at least two factions to this ascendant fascism. The first is the Koch network, “old” wealth and its coalition of negatives (christo nationalists, paleo conservatives etc) and the second (progeny) clearly dominant faction, the PayPal mafia, an apartheid eugenist contingent with delusions of extinctionist Orwellian techno monarchy / colonialism
That mafia was directly motivated to ensure the GOP’s total victory in the 2024 election cycle because their fraudulent enterprises had come under investigation and threat of criminal prosecution by the Biden administration. They lavished hundreds of millions of dollars in support of Donald Trump and the GOP and leveraged their social platforms to frame and manipulate public opinion. Their desperate gambit paid off, paid off in spades.. the GOP is in total control of the federal government.
Elon Musk is the most obvious example of this with his many endeavors being investigated for all sorts of irregularities. The rest of the Silicon Valley gang are up to their eyeballs in crypto scams. David Sacks, Andreessen are clear examples of this.
But they aren’t simply replacing the federal government to their liking. They are not simply engaged in garden variety oligarchy, pillage or blood and soil fascism. They out for global genocide, so their seed inherits the earth. They repurpose the US government to wage war.
Musk has said Trump’s policies will destroy the US economy. They understand the consequences of what they are engaged in, and they are doing it deliberately to achieve that end. Normalizing this austerity, as if it’s a lack of comprehension, is sane washing genocide.
Great article, but I’m not sure why you put Milei and the Trump-Musk alliance in the same frame. I’m assuming you’re not advocating for a return to the Peronist - Kirchner populism that ruined Argentina? But on the USA, the direction and speed of change is terrifying. Trump is 78 and doesn’t have long to exploit the current world situation to the advantage of him and his cabal. You can see that an alliance of convenience with Russia would suit his aims. The traditional “western” allies, fractured and mired in their own populisms and ineffective leadership, can go swivel. Democracy is a messy and inconvenient business; here we are seeing at first hand how one change in a powerful partner turns the landscape upside down.
I certainly do not believe that a loose association of billionaires and millionaires are roto rooting and re plumbing all the non elected and regulatory sectors of the federal government at once for the sole benefit of WORKING CLASS people. Never happened before, ain't what's happenin' now.
Populism growing organically from the lower ranks, I'd be interested in checking out what THAT might look like. Populism inflicted from the top of our economic dogpile down, steered by silver spoon babies and employees of nouveau riche tech billionaires, not so much.
Ann good article. I do think our major political parties and virtually all our media are captured by moneyed interests. So I can't see much hope for democracy at present. I can't see the UK being able to resist following the US at present either. Neither of our major UK parties have enough independent thought or access to safe pools of money to finance and present a different way forward. Liberalism it seems contains the seeds of its own destruction while creating more social & ecological harm.
Great article! The only thing I'd quibble with is that I believe we are governed by oligarchic kleptocrats who have purchased elected politicians around the world who steal our public natural resources & commodities while enacting laws that perpetuate their power and wealth via tax loop (black)holes. Then, they take a chainsaw to any regulations that might crimp their monopolistic styles and markets in any way, shape, or form
To me what is going on looks like a split within the capitalist class as capitalists operating on the national market are out-competed by global operators. The neo-liberal framework was put in place to benefit the globalists. The nationalists now struggle to pull this framework down even if they do not have any clear concept of what is to follow. In Europe the 'Maastricht-EU' is hitting the wall.
I think there's a bargain going on here. The capitalist class of the US need the $$ to retain its value. If the BRICS (now 55% of the global population) figure out a trading system, the US will suffer a severe currency depreciation because there is very little production left once you take away the power of the dollar - a couple of defunct car companies. An airline that can't keep planes aloft. Some tech that has been outcompeted by China and *should* be heavily regulated in Europe. So, for me, I think they figured out a bargain - for the social conservative, traditional right (Bannon land), there is the promise of colour revolutions in Europe, tipping centrist Govs into fascist, authoritarian modes. For the capitalists - most of whom preside over financialised companies - my guess is that they're going to try & get Russian to sell gas using $$s. This will drive up demand & keep them safe while dropping global inflation in time for the midterms. I honestly see this as the bargain: authoritarian social conservatism throughout the West for Bannon, coupled with enhanced $$ demand to undermine the BRICS. If they get inflation down, they will do well in the midterms & then they can start extracting from their vassals (Canada, Mexico, Europe etc;). Thank God the new German chancellor appears to understand the threat and is not going to fall for it.
Very very true, sadly