"The centrists want elected, democratic governments to get well out of the way of the economy (markets). They subvert organised resistance to globalisation" ...with losers deemed acceptable collateral damage? This is essentially Hayek's elevator speech. If the 'centre' is now firmly on the right and we lurch further in that direction... yikes.
Hey Ann, curious here, what changes did Clinton bring about in 2000 that led to the deregulation of global commodity markets? Not heard as much about this, pardon my ignorance.
Apologies for this belated response. Clinton, on the advice of Larry Summers and Alan Greenspan, ‘modernised’ the 1936 Commodity Exchange Act. It became the The Commodities Futures Modernization Act of 2000 (CFMA). (I write about this in my new book_) Whereas before, the law recognised the difference between sensible hedging and speculation, enforcing hedging contracts but not enforcing speculative contracts - after Clinton et al, speculative contracts are now enforced by the state.
Gabriel Rockhill makes a very, very compelling argument that fascism was the bad cop and "liberalism" was the good cop of capitalism.
It is so strange that neither Adam Tooze in his latest post about UK election, neither here, mentions the elephant in the room, the desire of the oligarchy to spread its wings uncontrolled everywhere, and thus the war against Russia via proxy and the slow (attempt) strangling of China. Can't have oligarchy restrained by political power, can we?!
Vance is a henchman of Peter Thiel, one of the most malignant anti democracy and pro monopoly forces in the Valley and a distinct plutocratic faction from the Koch network. The Koch network itself has operated for a half century, pouring hundreds millions each year to seize control of society to reduce the population to a permanent underclass.The subversion has been the culminating of 50 years of very deliberate effort. The network has largely succeeded in it. The GOP rules, it does not represent.
Resistance to tyranny has long been cowed by neoliberal arguments which boil down to an ask that a people surrender their sovereignty to totalitarian rule by wealth. This is the essence of privatization and deregulation. It does not grant freedom or prosperity. It simply hands power to wealth and their interests.
While I have plenty of issues with Biden, and he has come late realizing that his precious institutions are only as good as the purpose of the people filling them, he has done two things to thwart the far right’s claim on workers. He’s restored a pro union stance and invigorated anti-trust.
Vance is bright - unlike the Biden mob who simply repeat platitudes. There will be and IS a resonance between the blue collar working class and Trump and I noted that the President of the USA's biggest Union (CIO) spoke in support of Vance type regulation at the recent Iowa Republican Caucus where the VP was announced. Trump will be a problem BUT frankly, Biden and his team are so appalling things can't get any (politically) worse. I wonder how long the 'alliance' between the hard right , the Trump supporting globalists and the US 'working class' will last. Trump is an opportunist - Vance seems to believe what he says. He'll eat Kamala Harris for breakfast. So we'll have to see how long Vance lasts and how cleverly he negotiates the Republican Party.
"The centrists want elected, democratic governments to get well out of the way of the economy (markets). They subvert organised resistance to globalisation" ...with losers deemed acceptable collateral damage? This is essentially Hayek's elevator speech. If the 'centre' is now firmly on the right and we lurch further in that direction... yikes.
I think this article has it right
Technology is in charge; the global industrial machine of infinite biosphere death will not be denied and all sides support it. 🌲💀🌲
Yes. Join a union! Everyone, now!
Hey Ann, curious here, what changes did Clinton bring about in 2000 that led to the deregulation of global commodity markets? Not heard as much about this, pardon my ignorance.
Apologies for this belated response. Clinton, on the advice of Larry Summers and Alan Greenspan, ‘modernised’ the 1936 Commodity Exchange Act. It became the The Commodities Futures Modernization Act of 2000 (CFMA). (I write about this in my new book_) Whereas before, the law recognised the difference between sensible hedging and speculation, enforcing hedging contracts but not enforcing speculative contracts - after Clinton et al, speculative contracts are now enforced by the state.
Hey thank you so much for this, love your work and content in general. Gonna be ordering the new book.
Gabriel Rockhill makes a very, very compelling argument that fascism was the bad cop and "liberalism" was the good cop of capitalism.
It is so strange that neither Adam Tooze in his latest post about UK election, neither here, mentions the elephant in the room, the desire of the oligarchy to spread its wings uncontrolled everywhere, and thus the war against Russia via proxy and the slow (attempt) strangling of China. Can't have oligarchy restrained by political power, can we?!
Vance is a henchman of Peter Thiel, one of the most malignant anti democracy and pro monopoly forces in the Valley and a distinct plutocratic faction from the Koch network. The Koch network itself has operated for a half century, pouring hundreds millions each year to seize control of society to reduce the population to a permanent underclass.The subversion has been the culminating of 50 years of very deliberate effort. The network has largely succeeded in it. The GOP rules, it does not represent.
Resistance to tyranny has long been cowed by neoliberal arguments which boil down to an ask that a people surrender their sovereignty to totalitarian rule by wealth. This is the essence of privatization and deregulation. It does not grant freedom or prosperity. It simply hands power to wealth and their interests.
While I have plenty of issues with Biden, and he has come late realizing that his precious institutions are only as good as the purpose of the people filling them, he has done two things to thwart the far right’s claim on workers. He’s restored a pro union stance and invigorated anti-trust.
As always, Well Said.
Vance is bright - unlike the Biden mob who simply repeat platitudes. There will be and IS a resonance between the blue collar working class and Trump and I noted that the President of the USA's biggest Union (CIO) spoke in support of Vance type regulation at the recent Iowa Republican Caucus where the VP was announced. Trump will be a problem BUT frankly, Biden and his team are so appalling things can't get any (politically) worse. I wonder how long the 'alliance' between the hard right , the Trump supporting globalists and the US 'working class' will last. Trump is an opportunist - Vance seems to believe what he says. He'll eat Kamala Harris for breakfast. So we'll have to see how long Vance lasts and how cleverly he negotiates the Republican Party.