The Old is Dying and the New Cannot Be Born: From Progressive Neoliberalism to Trump and Beyond

The problem at the end of the Reagan cycle is that capital has successfully expanded, but is no longer able to drive the economy, and has left a large part of society increasingly unequal.

The Reagan era has reached its limits and can’t sustain the economy. The failure is in the process of creating a new set of competing social classes. This is reflected in the intensifying political crisis of the Trump presidency, in which the new social forces begin battling each other. This crisis will last through to the 2020s. In 2024, a new pre

We can, therefore, interpret neoliberalization either as a utopian project to realize a theoretical design for the reorganization of international capitalism or as a political project to re-establish the conditions for capital accumulation and to restore the power of economic elites. In what follows I shall argue that the second of these objectives

We were promised economic dynamism in exchange for inequality. We got the inequality, but dynamism is actually declining. Call it stagnequality—lower growth combined with rising inequality rather than inflation. It is no surprise, then, that the public has rejected conventional economic wisdom.