The End of Globalisation

The rise of nationalistic right wing governments voted in by electorates around the world is a direct result of the failure of ‘globalisation’ to enrich all but a tiny minority of the world’s population. The neoliberal economic canon of unbridled deregulation to maximise corporate profit, is now being brought to account by increasingly aware electorates, who no longer trust mainstream media owned by such corporations, according to columnist Keith Lambe

The freedom from financial restrictions, tax avoidance, and relocation of production to countries where labour is much cheaper was supposed to benefit everyone. Only multinational corporations got richer at the expense of everyone else, but as their profits begin to fall they are also starting to doubt the orthodoxy. The new wave of politicians will not tolerate jobs going outside of their countries to foreign shores, while their supporters remain jobless at home.

The UK ‘Brexit’ revolt against big EU government and forty years of neoliberal economic policies, the US election of Trump, the rise of Le Pen in France, the Pirate revolution in Iceland, mass protests against the rule of corporate families in South Korea. The ‘Arab Spring’, Brazil…If you think it’s all been business as usual perhaps you should think about which media has been forming your worldview.

The ‘barbarians’ are rallying at the gates, this time it is the global institutions like the World Bank, IMF, US Federal Reserve, national banks, European Union and even the United Nations who are under siege. Their commitment to economic governance by corporate dynasties and bankers with policies that cause deprivation and poverty for so many of the planets population is coming under fire. The bought and paid for national politicians only repeat the same old solutions based on outdated failed doctrines. The ruling political parties of the last century are now seen as two sides of the same coin, minted by the global banking ‘elite’.

Can the new wave of nationalistic autocratic right wing governments deliver a better living standard to their voting publics than the Punch and Judy theatrics of democratic assemblies? Can we expect innovative economic and social solutions from leaders who have emerged from the same system, either as career politicians or multi-millionaires with their eye on limitless money making opportunities? Perhaps the ‘barbarians’ have already entered the citadel of the globalised neoliberalism. They intend to dismantle the supranational ambitions of the corporate and banking ‘elite’. Unless they can provide root and stem reform to the global banking system and money supply coupled with visionary economic solutions for the majority, we are condemned to repeat recent history.

Capital Media

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