Maurice Glasman, Paul Johnson, Faiza Shaheen, and Llŷr Powell debate the tariffs imposed by Donald Trump and their impact on the national and global economy, as well as geopolitics.
Is liberal economics a failed experiment?
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When Fukuyama infamously declared ‘the end of history’, it summed up his view that liberal economics had won the battle against socialism and would remain the dominant economic framework for all time to come. The success of Chinese state capitalism has been an obvious challenge to the claim. But now, from Trump to Le Pen, Reform to the AfD, there is within the West a challenge to traditional liberal economics that comes not from socialism but from populist economic nationalism. It takes issue with central elements of liberal economics, arguing against free trade and in favour of tariffs and state intervention, while at the same time proposing tax cuts. Economic history, it would seem, isn't over yet.
Are we seeing the emergence of a new and credible economic theory in support of populist nationalism? Or is this no more than a combination of popular policies that make no economic sense? More fundamentally, is this evidence that liberal economics is not a coherent economic theory in the first place and that a grand overall economic theory is neither necessary nor possible?
#economy #economics #politics #trump
Faiza Shaheen is an economist, author, and activist whose work analyses the structural forces behind inequality. She is Executive Director of Tax Justice UK, and the author of Know Your Place.
Llŷr Powell is a member of Reform’s shadow cabinet in the recently elected Senedd, where he is responsible for Business and is also Chief Whip.
Maurice Glasman is the founder of Blue Labour and a life peer whose political thought draws on Jewish socialism, Christian democracy, and guild association to make the case for a conservatism rooted in working-class culture.
Paul Johnson is an economist currently serving as Provost of Queen's College Cambridge, having spent fourteen years as Director of the Institute for Fiscal Studies analysing tax, spending, and public policy across successive governments.
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00:00 When Glasman met Trump
00:46 Paul Johnson: the American economic model creates both enormous growth and enormous inequality
03:38 Maurice Glasman on tariffs, state investment, and socialism
07:09 Faiza Shaheen on the war in Iran, gas prices, and austerity
11:04 Llŷr Powell defends tariffs and national interest
12:45 Has globalism failed?
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