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Special Episode: Thomas Fazi on the ECB, Pavel Durov, and America's End of Empire Moment
Multipolarity
National Elites Steer Global Shifts
The historical transfer of power from national to supranational levels, particularly marked by the rise of the European Union, was driven not by external forces but by national elites themselves. This raises questions about their motivations in seemingly undermining their own power. The backdrop for this transfer is linked to the crisis in Western democracies that began in the late 1970s, where the collapse of the post-war Keynesian economic regime prompted capitalists to embrace neoliberalism. This shift reflects a strategic response from national elites who sought to adjust to changing economic realities despite losing some control.
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