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I specifically highlight the fact that I don't think his conclusion is the best one. However, none can deny that there is truth in his diagnostic. To me, he's a
by AFrogInCanada 10y ago
I specifically highlight the fact that I don't think his conclusion is the best one. However, none can deny that there is truth in his diagnostic. To me, he's a guy who writes well and does his research on current phenomenons, hence why he is accurate on what is _currently_ happening. He has little education on economics though, and is just proposing ideas which he has gained through reading nostalgic essays on the glories of the past.
- eli_gottlieb 10y agoI take exception to the diagnosis! There was never a system of "national" capitalism under which nation-states could make totally independent economic decisions, except during the two world wars. Even in those times, those nation-states made those decisions not for the good of working-class people but for the survival and power of the nation-state itself. The social-democratic "reasonably golden" age was based upon the Bretton-Woods trade system, under which currencies were pegged to each-other and surpluses were recycled to prevent international debt crises. That was by no means an autarkhic capitalist system; it was internationalist social democracy.