EP 833 Globalization Gives Way to Country First Policies Around the Globe and in the U.S.

EP 833 Globalization Gives Way to Country First Policies Around the Globe and in the U.S.

Our guest today suggests that globalization as we know it may be over, closing the books on a significant chapter in modern economic history and an interconnected world order.  Industrial policies dismissed as obsolete for decades are being embraced once again by governments worldwide.  Could that be the reason that geopolitical tensions are rising?  Jamie Merchant traces the roots of this change and economic decline around the globe in the book, “Endgame: Economic Nationalism and Global Decline.”  He argues that the greatest political and economic changes of the last decade are due not to globalization but to long-term decay of the market-based economic order.  No matter how you look at it the period ahead, with interdependence coming undone, is going to be unsettling or as he says ‘weird’.  Even Senator Mitch McConnell recently said that an America First policy, somewhat apart from the economic global order and institutions America built after WWII to keep order, is reminiscent of calls for go it alone policies in the 1930’s.  Very unsettling, indeed.


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