The banking system we take for granted is unfixable. The good news is that we no longer need to rely on any private, rent-seeking, socially destabilizing network of banks, at least not the way we have so far.
shows why the current private system is unfixable – and why we don’t need to tolerate it anymore.
Like Vladimir Putin, China's leader is so steeped in a narrative of victimhood and fearful of appearing weak that it is hard to imagine him ever leading China out of the mess he has created. He could well be remembered as the leader who squandered history's most remarkable economic success story.
about the country's increasingly worrisome trajectory, both at home and abroad.
Artificial IdiocyFrank Rumpenhorst/picture alliance via Getty Images
华盛顿—英国新任首相特拉斯正在翻开自我毁灭的民粹主义的一页。与此同时,美国继续沉迷其中。如果她能在首相职位的波诡云谲中游刃有余,安然渡难,那么最后可以成为可供美国保守派效仿的模式。
故事要从 2008 年的全球金融危机开始,这场危机造成美国劳动力市场如此疲软,以致于经通胀调整后的底层一半的工人工资连续数年下降。直到 2015 年,实际工资中位数才恢复到 2007 年的水平,直到 2016 年,底层 20% 的实际工资才恢复。
正如通常发生的那样,危机的这些经济后果导致美国民粹主义激增。在左翼,像佛蒙特州参议员伯尼·桑德斯(Bernie Sanders)这样的民主社会主义者对富人怒目而视,宣称“不应该有亿万富翁”。而在右翼,特朗普以民族主义民粹主义者的身份竞选总统并获胜,击败了一位与“建制派”关系密切的候选人。
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