Neoliberal capitalism emerged after the Great Depression and World War II, and led to the offshoring of jobs to Asia, hollowing out the old working class.
The disappearing jobs, opportunities, and standards of living created militant labor movements, and a shift from globalized neoliberal expansion to economic nationalism.
Capitalism has a private and state form, and economic systems are a different combination of private and state ownership. The emerging global working class will change everything, and the new economic order depends on whether this working-class turmoil congeals into its own notion of where the future lies.
Neoliberal capitalism emerged after WWII, offshored jobs to Asia, and hollowed out the old working class
The disappearance of jobs created militant labor movements and a shift from globalized neoliberal expansion to economic nationalism
Capitalism has a private and state form, and economic systems are different combinations of private and state ownership
The emerging global working class will change everything and depends on whether this turmoil congeals into a notion of the future
America's Empire has peaked and is in decline
China's hybrid system shows that a blend of state and private ownership can lead to rapid economic growth
The rising militancy of the labor movement in the US led by service workers among the lowest paid should be no surprise.
Even in China and India, working classes were reacting to the hard times they were facing.
The fact that France, as a whole country, is shut down by the demand of its working classes not to have the problems of French capitalism taken out on them by taking away the pensions they've already paid for.
The Germans who last month shut down the transportation system in their country as a protest against the inflations attacking the working class.
There has been a shift from globalized neoliberal expansion to its opposite retraction.
Countries are fighting against one another, and the United States is hobbling interactions with China.
Economic nationalism has replaced neoliberal globalization.
Europe is caught between figuring out what to do. Should it still stay with the United States, doing a lot of its dirty work politically as in Ukraine, or is the future of Europe better with the new centers? That issue is being fought out in Europe, even if the media in this country pretends otherwise.
The isolation of the United States is important to understand.
Economic Update is produced by Democracy at Work, a small donor-funded non-profit media organization.
Democracy at Work has been producing critical system analysis and visions of a more equitable and democratic world for 10 years.
Richard Wolff's book, Understanding Socialism, is available on their website, which reveals the hidden histories of socialism and presents democracy in the workplace as a way to move forward without the destruction and tragedy of capitalism.
The ecological movements are struggling to answer the big question of whether we need a multinational, multipolar world in which different countries work out a livable arrangement for all on this planet with its limitations.
The political forces, national forces, and economic realities are just as important in changing and shaping questions and answers.