

Markets vs. National Interest: Why the Old Order is CRUMBLING w/ Ralph Schoellhammer
Jul 24, 2025
Ralph Schoellhammer, an Austrian political scientist and Head of Center for Applied History at MCC Budapest, shares his insights on the crumbling post-World War II order. He discusses the shift from military might to economic power, the implications of consumerism on society, and the disenfranchisement felt by many Americans. Ralph challenges the idea of market efficiency versus national interest and critiques the failure of European institutions in connecting with everyday citizens. His perspective encourages a reconsideration of identity and the evolving nature of conservatism in today's world.
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End of Liberal World Order
- The post-World War II liberal order is crumbling as nationalism and national interests regain prominence.
- Markets no longer fully align with political interests, prompting economic policies prioritizing national strength over pure market efficiency.
GDP vs. War Capability
- Economic size measured by GDP alone is misleading; the ability to produce war materials is crucial for national power.
- Western countries have undermined their industrial capacities necessary for defense compared to competitors like Russia.
Trade's Social Consequences
- Global free trade policies hollowed out domestic industries, causing economic and social distress among working classes.
- The political backlash, such as the rise of populism, stems from people feeling left behind despite overall global economic growth.