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from the no-one's-leaving-until-we-have-unanimous-agreement dept.
The rise of populism has rattled the global political establishment. Brexit came as a shock, as did the victory of Donald Trump. Much head-scratching has resulted as leaders seek to work out why large chunks of their electorates are so cross.
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The answer seems pretty simple. Populism is the result of economic failure. The 10 years since the financial crisis have shown that the system of economic governance which has held sway for the past four decades is broken. Some call this approach neoliberalism. Perhaps a better description would be unpopulism.Unpopulism meant tilting the balance of power in the workplace in favour of management and treating people like wage slaves. Unpopulism was rigged to ensure that the fruits of growth went to the few not to the many. Unpopulism decreed that those responsible for the global financial crisis got away with it while those who were innocent bore the brunt of austerity.
2017 Davos says: The 99% should just try harder.
(Score: 0) by Anonymous Coward on Wednesday March 29 2017, @12:57PM
Low base rates and credit expansion as a band-aid for deeper structural problems are part of what people are voting against. When Obama took office student loan debt (or "asset" as these morons call it) was $640 billion. It now totals $1.6 Trillion and forms over 25% of the Federal Governments "assets". While education served this example, the pattern has been ubiquitous. Unsecured credit results in price inflation which is a disaster in an economic environment combining low inflation and low growth.