In a new article for the London Review of Books, economic historian Adam Tooze argues that the era of globalisationGlobalisation Full Description:While Globalization can refer to cultural exchange and human interconnectedness, in the context of neoliberalism, it is an economic project designed to facilitate the frictionless movement of capital. It creates a single global market where corporations can operate without regard for national boundaries. Key Mechanisms: Capital Mobility: Money can move instantly to wherever labor is cheapest or taxes are lowest. Offshoring: Moving manufacturing and jobs to countries with fewer labor protections. Race to the Bottom: Nations compete to attract investment by lowering wages, slashing corporate taxes, and weakening environmental laws. Critical Perspective:Neoliberal globalization creates a power imbalance: capital is global, but labor and laws remain local. This allows multinational corporations to pit workers in different countries against one another, eroding the bargaining power of unions and undermining the ability of democratic governments to regulate business in the public interest. that existed up to the great financial crisis of 2008 has finally died and instead an era of great power politics has returned. This existed under Biden equally as it did under Trump’s first and now second administration.

You can read the article here.

UPDATE

• I will be now be running a livestream Q&A for students on Friday November 22nd. You can access it here, subscribe to the channel to get your reminder.
• https://youtube.com/live/knBuNLBD-bU?feature=share (in case the link doesn’t work)

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