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Posts Tagged ‘Fukuyama’

The End of Neoliberalism and the Rebirth of History

Posted by hkarner - 5. November 2019

Joseph E. Stiglitz, University Professor at Columbia University, is the co-winner of the 2001 Nobel Memorial Prize, former chairman of the President’s Council of Economic Advisers, and former Chief Economist of the World Bank. His most recent book is People, Power, and Profits: Progressive Capitalism for an Age of Discontent.

For 40 years, elites in rich and poor countries alike promised that neoliberal policies would lead to faster economic growth, and that the benefits would trickle down so that everyone, including the poorest, would be better off. Now that the evidence is in, is it any wonder that trust in elites and confidence in democracy have plummeted?

NEW YORK – At the end of the Cold War, political scientist Francis Fukuyama wrote a celebrated essay called “The End of History?” Communism’s collapse, he argued, would clear the last obstacle separating the entire world from its destiny of liberal democracy and market economies. Many people agreed.

Today, as we face a retreat from the rules-based, liberal global order, with autocratic rulers and demagogues leading countries that contain well over half the world’s population, Fukuyama’s idea seems quaint and naive. But it reinforced the neoliberal economic doctrine that has prevailed for the last 40 years.The credibility of neoliberalism’s faith in unfettered markets as the surest road to shared prosperity is on life-support these days. And well it should be. The simultaneous waning of confidence in neoliberalism and in democracy is no coincidence or mere correlation. Den Rest des Beitrags lesen »

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Kapitalismus: Aus dem Gleichgewicht

Posted by hkarner - 18. Juni 2019

Date: 17-06-2019
Source: Die Zeit: Ein Essay von Wolfgang Merkel

Der Kapitalismus agiert heute schneller als die Demokratie, das goldene Zeitalter der fruchtbaren Koexistenz beider Systeme ist abgelaufen. Wie konnte es so weit kommen?

Kapitalismus: „Das Finanzkapital ist auf den Fahrersitz gesetzt worden“ (George Soros 1998)

Wolfgang Merkel ist Direktor der Forschungsabteilung Demokratie und Demokratisierung am Wissenschaftszentrum Berlin für Sozialforschung (WZB) und Professor für Politikwissenschaft an der Humboldt-Universität zu Berlin.

Kapitalismus und Demokratie sind heute höher entwickelt denn je. Gleichzeitig sind sie fragiler und verwundbarer geworden. Die Balance zwischen Politik und Ökonomie ist aus dem Gleichgewicht geraten. Ein Rückblick auf die Entwicklung und drei Thesen sollen verdeutlichen, wie es dazu kam. Den Rest des Beitrags lesen »

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The New Tribalism and the Crisis of Democracy

Posted by hkarner - 19. August 2018

Date: 17-08-2018
Source: Foreign Affairs By Francis Fukuyama
Subject: Against Identity Politics

Beginning a few decades ago, world politics started to experience a dramatic transformation. From the early 1970s to the first decade of this century, the number of electoral democracies increased from about 35 to more than 110.

Over the same period, the world’s output of goods and services quadrupled, and growth extended to virtually every region of the world. The proportion of people living in extreme poverty plummeted, dropping from 42 percent of the global population in 1993 to 18 percent in 2008.

But not everyone benefited from these changes. In many countries, and particularly in developed democracies, economic inequality increased dramatically, as the benefits of growth flowed primarily to the wealthy and well-educated. The increasing volume of goods, money, and people moving from one place to another brought disruptive changes. In developing countries, villagers who previously had no electricity suddenly found themselves living in large cities, watching TV, and connecting to the Internet on their mobile phones. Huge new middle classes arose in China and India—but the work they did replaced the work that had been done by older middle classes in the developed world. Manufacturing moved steadily from the United States and Europe to East Asia and other regions with low labor costs. At the same time, men were being displaced by women in a labor market increasingly dominated by service industries, and low-skilled workers found themselves replaced by smart machines. Den Rest des Beitrags lesen »

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How the West Surrendered Global Infrastructure Development to China

Posted by hkarner - 26. Mai 2018

Date: 22-05-2018
Source: Foreign Affairs By Bushra Bataineh, Michael Bennon, and Francis Fukuyama
Subject: Beijing’s Building Boom

Scholars and pundits in the West have become increasingly alarmed that China’s planned Belt and Road Initiative (B&R) could further shift the global strategic landscape in Beijing’s favor, with infrastructure lending as its primary lever for global influence. The planned network of infrastructure project—financed by China’s bilateral lenders, the China Development Bank (CDB) and the Export-Import Bank of China (CEXIM), along with the newly formed and multilateral Asian Infrastructure Investment Bank—is historically unprecedented in scope. But the B&R is only the natural progression of a global sea change in developing economy infrastructure finance that has already been under way for more than two decades.

The truth is that the West long ago ceded leadership in this area to China, a phenomenon that was largely driven not by foreign policy but by domestic infrastructure policy. The same factors that keep large infrastructure projects from getting off the ground in the United States and Europe make Western-sponsored projects in developing countries less viable than their Chinese counterparts.

China’s approach to infrastructure abroad mirrors its approach at home. Projects are evaluated more on their impact than on the specific viability of the project in question. The Chinese tend to overvalue the beneficial economic spillover effects of infrastructure projects, while undervaluing the potential harms, whether economic, social, or environmental. The Western approach, by contrast, is more transactional and focuses on painstaking due diligence concerning the economic, social, and environmental consequences of a given project. These safeguards are in the interests of ordinary people in developing countries. But Western institutions have become so risk averse that the cost and time to implement such projects have skyrocketed. Western governments and the multilateral institutions over which they exert influence, such as the World Bank, must consider making their safeguarding process more flexible if they are not to leave the field open to Chinese monopoly. Den Rest des Beitrags lesen »

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China’s Challenge to Democracy

Posted by hkarner - 28. April 2018

Date: 27-04-2018
Source: The Wall Street Journal

Mr. Runciman is a professor of politics at Cambridge University. This essay is adapted from his new book, “How Democracy Ends,” which will be published in early June by Basic Books.

The democratic cause is on the defensive today, and China’s pragmatic authoritarianism now offers a serious rival model, based on economic progress and national dignity

In his 1992 book “The End of History and the Last Man,” Francis Fukuyama famously declared the triumph of liberal democracy as the model of governance toward which all of humankind was heading. It was a victory on two fronts. The Western democracies held the clear advantage over their ideological rivals in material terms, thanks to their proven ability to deliver general prosperity and a rising standard of living for most citizens. At the same time, to live in a modern democracy was to be given certain guarantees that you would be respected as a person. Everyone got to have a say, so democracy delivered personal dignity as well.

Results plus respect is a formidable political mix. The word “dignity” appears 118 times in “The End of History,” slightly more often than the words “peace” and “prosperity” combined. For Mr. Fukuyama, that is what made democracy unassailable: Only it could meet the basic human need for material comfort and the basic human desire for what he called “recognition” (a concept borrowed from Hegel, emphasizing the social dimension of respect and dignity). Set against the lumbering, oppressive, impoverished regimes of the Soviet era, it was no contest.

Yet today, barely two decades into the 21st century, the contest has been renewed. It is no longer a clash of ideologies, as during the Cold War. Western democracy is now confronted by a form of authoritarianism that is far more pragmatic than its communist predecessors. A new generation of autocrats, most notably in China, have sought to learn the lessons of the 20th century just like everyone else. They too are in the business of trying to offer results plus respect. It is the familiar package, only now it comes in a nondemocratic form. Den Rest des Beitrags lesen »

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The Emergence of a Post-Fact World

Posted by hkarner - 13. Januar 2017

Francis FukuyamaFukuyama cc

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Economists Brace for a Donald Trump Rewrite of Global Financial Diplomacy

Posted by hkarner - 28. November 2016

Date: 27-11-2016
Source: The Wall Street Journal

If the president-elect shifts away from post-World War II international institutions, ‚chaos will rule the day,‘ one says

Leaders of the Group of Seven nations take part in a dialogue with other invited world leaders in Japan in May. Some economists worry a Trump White House will shift away from such international diplomacy forums.

Could Donald Trump upend seven decades of U.S. international economic diplomacy? That what some economists fear, taking the president-elect’s trade threats at face value.

In the wake of World War II, the U.S. and its allies established several global institutions to help stabilize the world economy and prevent spasms of interstate violence. Now, some political scientists and economists fear Mr. Trump risks turning more countries inward if he disengages from the World Trade Organization, the International Monetary Fund and other cooperative forums Washington has long relied on to help preserve world security. Den Rest des Beitrags lesen »

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‘End of History’ Author Says Donald Trump Could Signal a Shift From the Liberal World Order

Posted by hkarner - 27. November 2016

Date: 27-11-2016
Source: The Wall Street Journal

Francis Fukuyama says the U.S.’s role depends on whether Mr. Trump rules like a businessman or a ‘mafia boss’

Fukuyama ccFrancis Fukuyama, an American political scientist, political economist and author.

Francis Fukuyama, the Stanford University professor who famously said Western-style liberal democracy was triumphing in an “End of History” global political evolution, now says Donald Trump’s coming presidency could usher in the collapse of the postwar world order. Here are excerpts from a recent interview:

Q: You have said Donald Trump’s winning the White House is a watershed moment for world order. Why?

A: The bottom line of Trump’s policy is quite consistent: He’s a nationalist, both in terms of economic policy and global political order. He’s not going to buy into the type of cooperative arrangements that have been the underpinning of the liberal world order since the late 1940s.

But the real question that people have to pay attention to is, when he can’t get his way, which I suspect is going to be the case, is he going to escalate to more serious things like protective tariffs or punitive actions against companies that invest overseas?

This is tremendously dangerous because there’s a lot of economic nationalism already out there, and the U.S. has played a role in keeping this under wraps. If the hegemonic power shifts sides to a populist nationalist platform, the impetus towards maintaining that liberal order is potentially going to collapse. Den Rest des Beitrags lesen »

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Jürgen Habermas on how to derail right-wing populism

Posted by hkarner - 24. November 2016

Date: 24-11-2016
Source: http://conversations.e-flux.com/

Habermas CCInterviewed by Blätter für deutsche und internationale Politik, Jürgen Habermas speaks about authoritarianism, populism, and new alt-right politicians and parties such as Marie Le Pen, Alternativ für Deutschland, Putin and Trump.

After 1989, all the talk was of the “end of history” in democracy and the market economy and today we are experiencing the emergence of a new phenomenon in the form of an authoritarian/populist leadership – from Putin via Erdogan to Donald Trump. Clearly, a new “authoritarian international” is increasingly succeeding in defining political discourse. Was your exact contemporary Ralf Dahrendorf right in forecasting an authoritarian 21st century? Can one, indeed must one speak of an epochal change?

After the transformation of 1989-90 when Fukuyama seized on the slogan of “post-history” as coined originally within a ferocious kind of conservativism, his reinterpretation expressed the short-sighted triumphalism of western elites who adhered to a liberal belief in the pre-established harmony of market economy and democracy. Both of these elements inform the dynamic of social modernisation but are linked to functional imperatives that repeatedly clash. The trade-off between capitalistic growth and the populace’s share – only half-heartedly accepted as socially just – in the growth of highly productive economies could only be brought about by a democratic state deserving of this name. Such an equilibrium, which warrants the name of “capitalist democracy”, was, however, within an historical perspective, the exception rather than the rule. That alone made the idea of a global consolidation of the “American dream” an illusion. Den Rest des Beitrags lesen »

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„Es gibt Grenzen, was Neuankömmlinge anbetrifft“

Posted by hkarner - 1. August 2016

Date: 01-08-2016
Source: Die Welt

Fukuyama ccIslam und Demokratie? Überhaupt kein Problem, sagt der US-Politologe Francis Fukuyama. Die größte Gefahr für Europa sieht er woanders. Besonders deutlich rechnet er mit Angela Merkel ab.

Francis Fukuyama gehört zu den bekanntesten Historikern und Politologen unserer Zeit. Berühmt wurde er mit seiner These vom „Ende der Geschichte“. Kurz nach dem Fall der Mauer in Berlin prophezeite Fukuyama, die liberale Demokratie werde bald für eine dauerhaft sichere politische Zukunft der Menschheit sorgen

Frage: Professor Fukuyama, sie vertreten die These, dass man gegen die Terrormiliz Islamischer Staat (IS) keinen Krieg führen dürfe. Aber wäre das nicht eine plausible Lösung, angesichts der immer häufigeren Attacken?

Francis Fukuyama: Nein. Die wahre Bedrohung wäre eine Überreaktion unsererseits. Das ist doch genau das, was der Terrorismus erreichen will, vor allem der Islamische Staat. Wir dürfen den fürchterlichen Fehler des Irakkriegs von 2003 nicht wiederholen. Die Bürger wollen eine schnelle Lösung für dieses Problem. Doch ganz ehrlich: So eine Lösung gibt es nicht.

Kleine, aber heftige Attentate von labilen Individuen, wie bei den letzten, die wir erlebt haben, und wie sie auch in den USA immer wieder passieren, sind nicht vorhersehbar. Alle zu beschützen ist vollkommen unmöglich. Den Rest des Beitrags lesen »

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