Why Capitalism Needs Populism – Raghuram Rajan

“Ethical Markets recommend this thoughtful analysis of why capitalism (more precisely, financialization!)  needs populism. Of all the obsolete “isms” we still throw around, none are more outdated than the hot and cold wars fought over the two  vague concepts of “capitalism” v. “ socialism”  and the equally inane “left-right”  monikers!
As I have written so often, all economies are mixed (mixtures of markets and rules), always embedded in their respective cultural values and societies. I love the German Greens campaign slogan  “We are neither left nor right  …we are ahead! “Let’s bring this tired old debate into the 21st century, as Raghuram Rajan does in this article.  

~Hazel Henderson, Editor”

MAY 12, 2019  
This week at Project Syndicate, Raghuram Rajan argues that populist criticism can be useful for protecting the balance between markets and the state; Elizabeth Drew explains why US politics are about to get very ugly; Amin Saikal lays out the disastrous consequences of a military confrontation between Iran and the US; and more. Join the conversation.   Economics & Finance

Why Capitalism Needs Populism
Raghuram Rajan argues that grassroots pressure preserves an economic system that tends toward its own destruction.   Politics & World Affairs

Trump Is Now Above the Law
Elizabeth Drew traces the implications of US Attorney General William Barr’s duplicitous defense of the president.  
 From Oxford University Press & Hurst Publisher

Anglo Nostalgia: The Politics of Emotion in a Fractured West

By Edoardo Campanella and Marta Dassù

The past is the new future: a wide-ranging analysis of how the nostalgia virus is infecting politics worldwide, including Brexit.

“A penetrating, stimulating critique of the nostalgia underlying Brexit, and its wider context in a fractured West.”
— Timothy Garton Ash, Oxford University

“Nostalgic nationalism is a powerful concept for understanding current political trends around the world. Campanella and Dassù’s ideas have great force.”
— Lawrence Summers, Harvard University  Politics & World Affairs

A Confrontation from Hell
Amin Saikal says that a war between the United States and Iran could result in an uncontrollable regional conflict.   Economics & Finance

Explaining Inflation Inertia
Carmen Reinhart points out that policymakers who want to boost price growth or rein it in are wrestling with the same problem.