Keen On America Cracked, Jagged and Leaderless: The World is No Longer Flat
Dec 24, 2025
Gary Gerstle, an economic historian and author of The Rise and Fall of the Neoliberal Order, discusses the decline of neoliberalism and the emergence of a jagged, leaderless world. He argues that Trump 2.0 signifies a shift from a flat world dominated by American ideals to one marked by rising borders and state capitalism. Gerstle examines the implications of presidential power, the challenges facing America's legal elites, and the chaotic nature of MAGA politics. He also expresses cautious optimism for a democratic response in this new landscape.
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The World Is No Longer Flat
- The neoliberal era's hallmark of borderless markets is ending as states reassert control over borders, production, and sovereignty.
- Tech giants remain globally powerful, creating a contradiction between nationalist states and globe-straddling firms.
China's Model Is Being Emulated
- Western admiration for China's opening has reversed into both fear and selective emulation of its state-capitalist tools and authoritarian efficiency.
- Trumpism copies state steering and executive power while mixing authoritarian tendencies with market control.
Executive Power Without A Congressional Mandate
- Trump represents a novel concentration of executive power that bypasses Congress and relies heavily on executive orders and unilateral action.
- Unlike FDR, Trump's power lacks broad legislative mandates and sidelines Congress rather than empowering it.