GM92: Politics in an Age of Hard Borders and Rising Hegemons ft. Gary Gerstle
Top Traders Unplugged
Is the Neoliberal Order Over?
Gary argues neoliberal principles like free movement and trade are weakened and a new state-centric era is emerging.
In this conversation, the veneer of political continuity is stripped back to reveal a world drifting toward harder borders, sharper identities and a reshaping of power once thought unthinkable. Gary Gerstle traces the erosion of the neoliberal order and the rise of a political logic that places national strength above universal norms. He examines how affordability stress, authoritarian impulses and fragmented parties are redrawing economic life and democratic expectations. The discussion widens into a global map of competing hegemons and the uneasy choices facing Europe and the United States. What emerges is a portrait of a century unsettled, yet not without agency.
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Episode TimeStamps:
00:00 - Opening remarks on a shifting world and national security visions
00:44 - Introduction to Top Traders Unplugged and context for the discussion
01:40 - Framing the global macro environment and the need for deeper perspectives
02:24 - Introducing Gary Gerstle and his work on political and economic orders
04:00 - Defining the end of the neoliberal era and what has replaced it
07:02 - The tension between authoritarian forces and liberal democratic hopes
08:17 - Democracy under strain and the implications of Trump’s second term
10:06 - Shock, discipline and the early strategic force of Trump 2.0
14:27 - The economic agenda redefining tariffs, reshoring and political constituencies
17:17 - Manufacturing limits, automation and long term structural realities
21:11 - Tariffs, tax politics and the competing factions within the Republican Party
21:50 - Deregulation, AI, Silicon Valley realignment and state influence
26:34 - The affordability crisis and political expectations around prices
31:23 - Prospects for Democrats in 2026 and shifting electoral dynamics
59:32 - A global lens on rising nationalism, new hegemons and the future of the EU
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