Branko Milanović – How the mainstream abandoned universal economic principles

Branko Milanović – How the mainstream abandoned universal economic principles

My recent Substack on Donald Trump’s election and his assumption of presidential powers has attracted quite a lot of attention as well as critique among people who misinterpreted the article to be a paean in favor of Donald Trump. I am very gratified that the article attracted the attention of Martin Wolf from the Financial Times who is one of the most respected analysts of domestic and international economic policies. You can find both his critique and my very short reply on the bottom (in the comments section) of the original article here. My point in the reply was to argue that the main principles of neoliberal globalization have been abandoned by the mainstream economists much prior to January 20th. The latter is only a symbolic event: on that day indeed will end the era of neoliberal globalization that has started (in this episode of globalization) with the fall of the Berlin Wall. Yet most of its elements have been dismantled much before and by the people who never openly acknowledged doing so.

Click here to view original web page at braveneweurope.com

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