This is one of the best Op-Eds you will read this year, though it deliberately deemphasizes the personal (no one is attacked) in a manner that will result in less attention. Better to write the truth! Excerpt: Why has this [voter discontent} happened? Some of it is economic. Expensive housing, stagnant incomes and widening inequality have fueled public […]
The post The common sense of Fareed Zakaria appeared first on Marginal REVOLUTION.
This is one of the best Op-Eds you will read this year, though it deliberately deemphasizes the personal (no one is attacked) in a manner that will result in less attention. Better to write the truth! Excerpt:
Why has this [voter discontent} happened? Some of it is economic. Expensive housing, stagnant incomes and widening inequality have fueled public anger. But economics is only part of the story. America has enjoyed stronger growth than most other advanced economies. France under President Emmanuel Macron has lowered unemployment, and it has attracted more foreign investment projects than any country in Europe for seven straight years, according to an Ernst & Young analysis. South Korea is an economic success story. Japan was experiencing a comeback. Yet democratic governments almost everywhere are unpopular.
The larger explanation is that we are living through one of history’s great technological revolutions. And these transformations always produce deep anxiety and fear.
The last technological transformation on this scale came between roughly 1880 and 1920. Electricity, the telephone, railroads, the automobile and movies overturned entire industries and ways of life. Millions left farms for cities. Global trade disrupted local economies. New fortunes appeared overnight, while old occupations disappeared. In this turmoil, frustration and anger found political pathways. The left turned to communism, the right to fascism. What followed were new mass movements, cultural upheavals and world war.
Do read the whole thing. You can be a victim of these processes, or keep your wits about you. The choice is yours.
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