a change in consciousness
not the End of History
the image above from Twitter links to the article sent with this tweet:
A nationalist reaction against U.S. dominance is rising throughout European politics, and instead of America locking in its control over European policy, the U.S. may end up losing – not only in Europe but most crucially throughout the Global South.*
from the article by Michael Hudson:
What has occurred is a change in consciousness. We are seeing the Global Majority trying to create an independent and peacefully negotiated choice as to just what kind of an international order they want. Their aim is not merely to create alternatives to the use of dollars, but an entire new set of institutional alternatives to the IMF and World Bank, the SWIFT bank clearing system, the International Criminal Court and the entire array of institutions that U.S. diplomats have hijacked from the United Nations.
The upshot will be civilizational in scope. We are seeing not the End of History but a fresh alternative to U.S.-centered neoliberal finance capitalism and its junk economics of privatization, class war against labor, and the idea that money and credit should be privatized in the hands of a narrow financial class instead of being a public utility to finance economic needs and rising living standards.*
2023-07-06 / notes
*a link; see the about page for how posts – and copies on fw – use links
further notes are often appended to copies on fw