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In many Western democracies, this is a year of revolt against elites. The success of the Brexit campaign in Britain, Donald Trump’s unexpected capture of the Republican Party in the United States, and populist parties’ success in Germany and elsewhere strike many as heralding the end of an era. As Financial Times columnist Philip Stephens put it, “the present global order – the liberal rules-based system established in 1945 and expanded after the end of the Cold War – is under unprecedented strain. Globalization is in retreat.”
In fact, it may be premature to draw such broad conclusions.
Some economists attribute the current surge of populism to the “hyper-globalization” … (to read more)
Joseph S. Nye, Jr ©2016