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@daicing @gaodawei An interesting question I do not have an answer to:
The Thirty Glorious Years 1945-1975 in the Global North that were the Age of Social Democracy were the best years that North Atlantic economy and society had ever seen. They hit a speedbump from 1973-1979, yes. But that... 1/
The Thirty Glorious Years 1945-1975 in the Global North that were the Age of Social Democracy were the best years that North Atlantic economy and society had ever seen. They hit a speedbump from 1973-1979, yes. But that... 1/
@daicing @gaodawei ...speedbump was of very small magnitude compared to all of those we have experienced since. Yet somehow that speedbump was enough to cause Social Democracy to fail its political-stability test, and lead to its replacement by Neoliberalism.
Neoliberalism has, in the Global... 2/
Neoliberalism has, in the Global... 2/
@daicing @gaodawei ...North, durably delivered on none of its promises save to greatly enrich the rich. And it has hit many speedbumps, and more than speedbumps. Yet it, with its many failures, has proved remarkably durable in a way that its predecessor, Social Democracy, did not.
I find... 3/
I find... 3/
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Timothy O'Reilly @timoreilly
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Jan 27, 2022
This is a fascinating thread. Well worth reading? Why did the 1945-1975 experiment, which produced such broad based prosperity, give way to neoliberalism, which created such wealth disparities? And why has neoliberalism been so sticky, despite its evident failures?