01-03-2017, 11:11 PM
It isn't actually that difficult to understand
The funny thing is, those on the wrong side of neo-liberalism, the ones that are now revolting, vote for the party who will double down on it. And there is more to it:
Quote:When a particular model of capitalism is working successfully, material progress relieves political pressures. But when the economy fails – and the failure is not just a transient phase but a symptom of deep contradictions – capitalism’s disruptive social side effects can turn politically toxic.The Crisis of Market Fundamentalism by Anatole Kaletsky - Project Syndicate
That is what happened after 2008. Once the failure of free trade, deregulation, and monetarism came to be seen as leading to a “new normal” of permanent austerity and diminished expectations, rather than just to a temporary banking crisis, the inequalities, job losses, and cultural dislocations of the pre-crisis period could no longer be legitimized – just as the extortionate taxes of the 1950s and 1960s lost their legitimacy in the stagflation of the 1970s.
The funny thing is, those on the wrong side of neo-liberalism, the ones that are now revolting, vote for the party who will double down on it. And there is more to it:
Quote:Yet the concerns of people from the U.S. Midwest to Greece, where a populist, anti-austerity government has been in power for almost two years, are only partially rooted in a sense of abandonment in a global economy. There’s a deeper discontent with the way they are governed that a fiscal stimulus program, import tariffs or a stock-market rally won’t quickly soothe.Outrage Over the Economy Doesn’t Explain Surging Global Populism - Bloomberg
Unemployment where Heinzelman lives is 3.2 percent, matching the lowest level since 2000. His beef is with undocumented immigrants, so the retired small-business owner backed Trump. Durand, whose family farm is in a moderately prosperous region between Lyon and the Alps, said bureaucrats in Brussels who are “totally removed from the real world” have solidified his loyalty to France’s National Front party, which could help propel the anti-euro party under Marine Le Pen to power next spring. "Whether they’re virtual or real, the reality is we’re going to see a world with more walls," said Ian Bremmer, president of Eurasia Group, a New York-based risk consulting firm.

