This week’s Guardian ‘long read’ on Globalisation: the rise and fall of an idea that swept the world by Nikil Saval is well worth a read, outlining the failures of economic/political policy that have led to today’s dysfunctional world economy and its increasing inequalities.
How easy it is to propound abstractions and not consider the real world implications – free trade, free markets, globalisation – the apparent obsession of many economists and politicians over the last 40 years.
Of course, chickens eventually come home to roost. And this is what we see in the real world, with people in the West disillusioned with the effects of a failing globalisation system, just as in the early 20th century.
Deluded by these abstractions have politicians failed to act according to the interests of those they represent? It is after all their job to so act.
But of course we all have our own favourite abstractions, and our own view of what might have been better decisions…