|
Article Excerpt
Not surprisingly, the swift unraveling of the global economy combined with the ascent to the US presidency of an African-American liberal has left millions anticipating that the world is on the threshold of a new era. Some of President Barack Obama's appointees--in particular ex-Treasury Secretary Larry Summers to lead the National Economic Council, New York Federal Reserve Board chief Tim Geithner to head Treasury, and former Dallas Mayor Ron Kirk to serve as trade representative--have certainly elicited some skepticism. But the sense that the old neoliberal formulas are thoroughly discredited has convinced many that the new Democratic leadership in the world's biggest economy will break with the market fundamentalist policies that have reigned since the early 1980s.
One important question, of course, is how decisive and definitive the break with neoliberalism will be. Other questions, however, go to the heart of capitalism itself. Will government ownership, intervention, and control be exercised simply to stabilize capitalism, after which control will be given back to the corporate elites? Are we going to see a second round of Keynesian capitalism, where the state and corporate elites along with labor workout a partnership based on industrial policy, growth, and high wages--though with a green dimension this time around? Or will we witness the beginnings of fundamental shifts in the ownership and control of the economy in a more popular direction? There are limits to reform in the system of global capitalism, but at no other time in the last half century have those limits seemed more fluid.
President Nicolas Sarkozy of...
|
|
More articles from Synthesis/Regeneration
Getting catastrophe down to a science.(Thinking Politically)(Gaza stri..., March 22, 2009
A green path through hard times?(Thinking about Shrinking)(economic ac..., March 22, 2009
Obama and the military-industrial-scientific complex.(Less Energy)(Bar..., March 22, 2009
Energy, Environment and Exhortationism.('Renewable Energy Cannot Susta..., March 22, 2009
Climate Change Pollyannas.(Global Warming for Dummies)(Book review), March 22, 2009
Looking for additional articles?
Search our database of over 3 million articles.
Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication
name or publication date.
About Goliath
Whether you're looking for sales prospects, competitive information, company
analysis or best practices in managing your organization,
Goliath can help you meet your business needs.
Our extensive business information databases empower business
professionals with both the breadth and depth of credible,
authoritative information they need to support their business
goals. Whether it be strategic planning, sales prospecting,
company research or defining management best practices -
Goliath is your leading source for accurate information.
|
|
