This is one of the most clear-eyed analyses of I have seen on the state of global empire to date, and why it produces populist reactions on both the left (Syriza/Podemos) and the right (Trump, etc ..).
We recommend watching at least the first fifty minutes of this stellar presentation by Mark Blyth. At the end of his lecture, he notes both of these reactions to the current crisis, for which no clear escape seems at hand, are in fact about a return to local control by national governments. What is missing therefore is a new global outlook that is not neoliberal globalization, nor simple localism. This is I believe, what the analysis of the P2P Foundation actually provides, which keeps global cooperation intact, while aiming for the ‘subsidiarity of material production’. You’ll here much more about this in the course of this year.
Dear Michel,
Do you know Modern Monetary Theory? It is becoming not just a post-keynesian school but a movement and probably it could become something similar to what keyneisianism meant in the 30s and 40s… have a look
http://www.retemmt.it/
https://jardin.lasindias.com/por-que-la-teoria-monetaria-moderna-puede-cambiar-europa-mas-que-el-keynesianismo
Totally agree that Blyth’s presentation is one of the best….A post of mine a month ago picked out its key points and tried to put the presentation in a slightly wider context http://nomadron.blogspot.ro/2016/12/tina-and-little-trumpets.html
Brilliant thanks Michel. I love Blyth’s critique of the soft left and their ‘defenestration of working class prospects,’ his interest in Kirkegaard and that I recognise the mantra from New Zealand of inflation as the bogeyman – to justify fierce unemployment – taught to us as schoolchildren in the 80s.
Will watch again and will follow up on your presentation Ronald.
@David — I am not yet convinced by MMT. One warning sign is the name itself, “Modern”. That does not bode well. But are you really sure that the assumptions on which MMT is based are sound? I doubt it, personally. I read the Wikipedia article, https://en.wikipedia.org/wiki/Modern_Monetary_Theory
Blyth’s presentation, however, brilliant, thanks for flagging it for us, Michel!
Great video, I’ve referenced it in my article here:
http://theprisma.co.uk/2017/03/06/trumps-cabaret-of-broken-dreams/