Saturday 12th November 2016
First Brexit and now Trump. There’s a pattern here that we must try to understand.
Of course it’s disgusting that a racist, sexist property developer has won the presidency of the United States. But something bigger is happening.
Britain and the US were the two advanced capitalist societies that pioneered neoliberalism. This followed the election victories of Margaret Thatcher is British prime minister in 1979 and Ronald Reagan as US president in 1980.
Now we are seeing in both of these countries the cumulative effects of more than 35 years of globalised free market capitalism.
These effects have been greatly reinforced by what the Marxist blogger Michael Roberts calls the Long Depression that started in 2007-8.
So we’ve seen a kind of involution of the political system. On the one hand politics—whatever party is in office—has come to be dominated by a corporate elite deeply wedded to neoliberalism.
Perhaps the clearest example of ...