New Books in Economics
Populism, Power, and the Crisis of Globalism: A Conversation with Wolfgang Streeck
Apr 3, 2025
Wolfgang Streeck, former director at the Max Planck Institute for the Study of Societies, delves into the growing divide between elites and the public in democracies. He discusses the rise of populism as a backlash against centralized control, the educational and immigration divides shaping political sentiments, and the evolving geopolitical dynamics between the U.S. and Europe. Streeck's insights reveal the complexities of modern globalism and the urgent need for more democratic governance amidst shifting power balances.
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Quick takeaways
- The rise of populism reflects a reaction against elitism, as discontent grows due to market forces undermining national sovereignty and democratic engagement.
- The fundamental tension between democracy and capitalism suggests an ongoing struggle over control of economic resources and political power distribution.
Deep dives
The Rise of Populism in Politics
Populism is increasingly recognized as a significant force in contemporary politics, representing a shift towards grassroots empowerment in the face of centralized power structures. This dynamic arises from the historical tensions between elites and the masses, where populism serves as a reaction against elitism, which often leads to democratic shortcomings and technocratic governance. The argument suggests that as globalism falters due to its internal contradictions, real political movements are increasingly populist, focusing on restoring control and sovereignty to ordinary people. This necessitates a reevaluation of political frameworks to prioritize democratic engagement and counter the dominance of market-driven elitism.
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