This is an incredibly important point of view from not a usual suspect. Late stage unfettered and global capitalism has destroyed the security AND FUTURES of millions of working families. Unless that reality is addressed, people will grasp for answers from right-wing demagogues.
On Sep 5, 2017 7:44 AM, "John Case" <email@example.com> wrote:
Raghuram Rajan: Populist Nationalism Is "the First Step Toward Crony Capitalism"--
com/economistsview/2017/08/ raghuram-rajan-populist- nationalism-is-the-first-step- toward-crony-capitalism.htmlRaghuram Rajan: Populist Nationalism Is "the First Step Toward Crony Capitalism": The wave of populist nationalism that has been sweeping through Western democracies in the past two years is "a cry for help from communities who have seen growth bypass them."So said Raghuram Rajan, the former governor of the Reserve Bank of India, during a keynote address he gave at the Stigler Center's conference on the political economy of finance that took place in June.Rajan, a professor of finance at the University of Chicago Booth School of Business, spoke about the "concentrated and devastating" impact of technology and trade on blue-collar communities in areas like the Midwest, the anger toward "totally discredited" elites following the 2008 financial crisis, and the subsequent rise of populist nationalism, seen as a way to restore a sense of community via exclusion.In his talk, Rajan focused on three questions related to current populist discontent: 1. Why is anger focused on trade? 2. Why now? 3. Why do so many voters turn to far-right nationalist movements?"Pointing fingers at these communities and telling them they don't understand is not the right answer," he warned. "In many ways, the kind of angst that we see in industrial countries today is similar to the bleak times [of] the 1920s and 1930s. Most people in industrial countries used to believe that their children would have a better future than their already pleasant present. Today this is no longer true." ...
-- via my feedly newsfeed
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