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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Populism vs. Elitism
- Populism contrasts elitism, centralization, and technocracy with demands for democratic self-rule.
- Current globalism's top-down governance suppresses democratic self-rule, fueling populist movements.
Democracy vs. Capitalism
- Democracy and capitalism have inherently opposed principles: one-person-one-vote versus one-dollar-one-vote.
- Their historical alignment was precarious and remains contested, especially over property rights.
Education Drives Divide
- Education was meant to enable equal citizenship but has become a source of class division.
- Access to education increasingly separates elites from masses, reinforcing inequality politically and socially.