Thread title is a quote from the article
I imagine some of you won't like this one single bit as it brings the rise of 20th century fascism uncomfortably close to free market capitalism and surprisingly, populism. Would you rather redistribute wealth through taxation and social spending or higher wages?
I think it gives fair treatment to both sides of the economic aisle and is flat loaded with a bunch of great history.
Is Capitalism a Threat to Democracy?
The idea that authoritarianism attracts workers harmed by the free market, which emerged when the Nazis were in power, has been making a comeback.
By Caleb CrainMay 7, 2018
A new book blames authoritarianism on politicians entranced by the free market.Illustration by Alvaro
In London, in the nineteen-thirties, the émigré Hungarian intellectual Karl Polanyi was known among his friends as “the apocalyptic chap.” His gloom was understandable. Nearly fifty, he’d had to leave his wife, daughter, and mother behind in Vienna shortly after Austria lurched toward fascism, in 1933. Although he had long edited and contributed to the prestigious Viennese weekly The Austrian Economist, which published such celebrated figures as Friedrich Hayek and Joseph Schumpeter, he had come to discount his career as a thing of “theoretical and practical barrenness,” and blamed himself for failing to diagnose his era’s crucial political conflict. As so often for refugees, money was tight. Despite letters of reference from eminent historians, Polanyi failed to land a professorship or a fellowship, though he did manage to earn thirty-seven pounds co-editing an anti-fascist anthology, which featured essays by W. H. Auden and Reinhold Niebuhr. In his own contribution to the book, he argued that fascism strips democratic politics away from human society so that “only economic life remains,” a skeleton without flesh....
https://www.newyorker.com/magazine/2018 ... qPwyoawPrs
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Interesting read. Seems like the reviewer is pushing for a sort of “Keynesian-plus” solution to income inequality and international competitiveness. He cites the usual trope of a Scandinavian nirvana, but he doesn’t indicate how the US can get there politically. The subject book’s author, Bob Kuttner, has been a prolific writer on the left for years, and a reliable supporter of a managed economy. More managed than we have now, certainly.
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