Hugh McDermott for Prospect


Pages tagged "globalisation"

Progressive Entrepreneurship: A Work in Progress

by William A. Galston

A few years ago, the noted economist Benjamin Friedman laid out the moral case for a progressive commitment to robust economic growth. Growth, he argued, increases opportunity and mobility, makes fairness more likely, and strengthens support for tolerance and democracy. At the same time, he offered two caveats. First, to achieve these results, growth must be widely shared. If those at the top commandeer its fruits, opportunity and mobility will stagnate, and social tensions will rise. Second, if the right kind of growth is valuable in part because it provides public goods, then a basic tenet of public-choice theory holds that the market by itself will undersupply those goods. The right kind of collective action can improve on pure market outcomes.

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Mr Keynes and the Moderns

Keynes’ General Theory is 75 years old. In this column, Paul Krugman argues that many of its insights and lessons are still relevant today, but many have been forgotten. A broad swath of macroeconomists and policymakers are applying old fallacies to today’s crisis. As the nostrums being applied by the “pain caucus” are visibly failing, Keynesian ideas may yet make a comeback.

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Why Libertarians Are Wrong on Free Trade

by Ian Fletcher

I recently gave a podcast interview to Vox Day, a prominent Christian libertarian, explaining why free trade is bad for America. He followed it up with an article making many of the same points.

Finally, a libertarian gets it.

This did not go over well with some of his followers.

I'm not qualified to speak to the "Christian" aspects of free trade -- whatever those are -- beyond observing that globalism, of which free trade is a part, certainly looks like the Tower of Babel. But as one prominent libertarian has now seen through the free trade delusion that generally grips his fellow libertarians, this is probably a good time to explain what he got and they didn't.

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Organisations, too, need Love – Social Democracy ought to be more than just a Policy Choice

By Gabor Gyori

In analysing a key organisational challenge for social democracy,  I recently wrote that “[s]ocial democratic parties are for the most part unable to engage the identities of citizens; they are perceived as campaign vehicles and administrators of certain ideas rather than core institutions of an extended ideological community.” I promised to follow up on this idea in a later article, which you’ll find below.

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Ending "Too Big To Fail"

by Michael Barr

Over two years ago, the United States and the global economy faced the worst economic crisis since the Great Depression. The crisis was rooted in years of unconstrained excess on Wall Street, and prolonged complacency in Washington and in major financial capitals around the world. The crisis made painfully clear what we should have always known--that finance cannot be left to regulate itself; that consumer markets permitted to profit on the basis of tricks and traps rather than to compete on the basis of price and quality will, ultimately, put us all at risk; that financial markets function best where there are clear rules, transparency and accountability; and that markets break down, sometimes catastrophically, where there are not.

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Re-Energizing The Progressive Movement

By Zaid Jilani

This past Thursday, over 2,000 progressives — including the team from ThinkProgress (see )  — attended Netroots Nation 2011, where bloggers, elected officials, and activists came together to strategize about how to reinvigorate the US progressive movement and more effectively battle the right. During the four-day event, conference-goers attended panels on topics ranging from the Federal Reserve to the Arab Spring, heard speeches from members of Congress, peppered a high-ranking White House official with questions, and strategized with some of the nation’s biggest names in progressive politics. Although the blogosphere has often been derided by traditional media and the political class, Netroots Nation was a clear demonstration of a simple fact: the blogs and social media outlets that make up the netroots are a pivotal part of shaping not only the progressive movement but the very future of America.

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The New Social Democracy – Towards Pluralist Network Parties

By Robin Wilson

The expert on western European politics Peter Mair hasdiagnosed a ‘hollowing out’ of politics in recent decades, as parties have become less representative voices for diverse groups of the citizenry and more mediatised vehicles for members of a detached political class to insert themselves into government.[1] This is particularly clear in France, with its presidential system: Dominique Strauss-Kahn’s fall from grace demonstrated that the future of French socialism had effectively been reduced to a decision by a latter-day medieval political prince as to whether he would deign to subject himself to popular election.

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The Need for a UN Mechanism to Enforce International Labour Law Standards



by Hugh McDermott

Globalisation is an important and vital element of the new world economy.  Not only does it allow companies to access competitively priced labour markets, it redistributes employment opportunities and can provide significant economic benefits to workers in emerging markets.

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Reviving a Progressive Economics: A new Organization for a Long and Distinguished Tradition

By John Weeks

The explicitly conservative nature of mainstream (“neoclassical”) economics might give the impression that all economists line up on the political spectrum somewhere between the moderately and extremely reactionary. This is especially the case with the vast majority of the profession in North America and Europe supportive of fiscal austerity.

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Another Socialist Failure

by Bob Carr

Remember when Cuba enjoyed favoured status with the left? The Soviet Union edged towards collapse. China had no alternative but to go for markets and private ownership. But there was still some romance in a leader with a beard and a cigar who had stood up to the tyrannical, imperialist giant.

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