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The Cold War has been followed by the class war. A transatlantic class war has broken out simultaneously in many countries between elites based in the corporate, financial, and professional sectors and working-class populists. Already this transnational class conflict has produced Brexit and the election of Donald Trump to the American presidency. Other shocks are…
Read MorePrior to the 2008 financial crisis, it was widely taken for granted that the U.S. economy was exceptional, at least in the developed world: it was the only one of the major developed economies that could grow. The Japanese economy had stagnated in the 1990s. Europe was on the road to similar stagnation on account of its pensioner-heavy demographic profile and an overregulated business sector…
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