Posts Tagged ‘values’

The rise and fall of the ‘free market’

by David Hetherington

Ideas, like fashion, move in waves. A big idea will form, expand, dominate, and fade. Along the way it will accrue adherents and opponents, leaving a trailing wake of subsidiary ideas.

The last century has seen the rise and fall of communism, fascism, and socialism. Democracy has proven more enduring, still expanding if not dominating.

Yet the idea closest to the inflection point between domination and fade is the ‘free market’, the most influential concept in political economy over the past 40 years. Outlined in its modern form by the Austrian school of economists and expanded by Milton Friedman, the free market was the bedrock of the Thatcher/Reagan reforms. It defined the political orthodoxy for both right and left until the financial crash of 2008.

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Do New Democracies Support Democracy?: The Multilateral Dimension

by Ted Piccone 

The world’s six most influential rising democracies—Brazil, India, Indonesia, South Africa, South Korea, and Turkey—are at various stages of democratic consolidation. Freedom House ranks them all as Free in terms of political rights and civil liberties except for Turkey (which is at the top of the Partly Free category), and all six have enjoyed remarkable economic growth and improved standards of living in recent years. Yet when it comes to supporting democracy and human rights outside their borders, they have differed quite a bit from one another, with behavior ranging from sympathetic support to borderline hostility.

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Social media and the Arab Spring: Where did they learn that?

by Will Stebbins

In my work as an external affairs consultant in the Middle East North Africa (MENA) division of The World Bank, I have had the opportunity of becoming very familiar with the region’s development literature. One of the key questions the literature attempts to answer is the source of the incredibly high unemployment rates in Middle East and North Africa: Far higher than any other developing region, and especially high among college graduates.

This is a key economic context for the ‘Arab Spring,’ and one of the sources of the mass frustration that led to the protests. The literature identifies a number of well known culprits: non-diversified economies, highly dependent on oil, both for those that have it and those that don’t, and very small private sectors, as the state continues to dominate MENA economies and hence the labor markets. Yet, it’s the  public sector that is under stress as a result of the global financial crisis.

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Europe’s democracy shock

by Olaf Cramme 

The outcry over EU legitimacy only diverts attention away from the real challenges to democracy and sovereignty in our capitalist system. We deserve a better debate.

The seismic social and economic aftershocks of the global financial crisis have raised a new awareness among citizens: democracy is in a pretty bad shape and national sovereignty is under siege. It is not so much the widely-reported violent demonstrations in Greece which embody this growing unease, but rather hardening cynicism and wide scale disenchantment with politics in the liberal West. We are in a situation where representational power looks worryingly distorted, the most basic demands and concerns of citizens are often ignored and the emotional gap between the elite and the population at large seems to be growing. At the same time, questions of belonging, identity and nationalism have re-emerged on the agenda – and with it a new surge in populist rhetoric.

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A Challenge to Social Democrats: Where Is Your Blueprint for Europe?

by Steven Hill

When I spoke last June in Barcelona at the annual conference of the Social Democrat/Socialists in the European Parliament, I asked the audience a rather pointed question: what is your political program and solutions for the economic crisis that distinguishes you from the center-right? Because when I read various writings and websites from social democrats, I can’t really tell. The Social Democratic message is not clear, the program is too vague, indecisive and hedging. And I don’t just mean about how to deal with the current crisis — what is your blueprint for Europe going forward?

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