A New Progressive Political Economy
The 2008 financial crisis revealed major flaws in neoliberal capitalism, and the last 35 years have shown that the neoliberal model has not performed well relative to the previous 30 years in terms of economic growth, financial stability, and social justice. The time has come for a credible progressive alternative.
LONDON – In an article in Foreign Affairs entitled “The Future of History,” Francis Fukuyama pointed out that, despite widespread anger at Wall Street bailouts, there has been no great upsurge of support for left-wing political parties. Fukuyama attributed this – rightly, I believe – to a failure of ideas.