The Crisis of Globalization: Democracy, Capitalism and Inequality in the Twenty-First Century

Description

In recent years, the effects of economic openness and technological change have fuelled dissatisfaction with established political systems and led to new forms of political populism that exploit the economic and political resentment created by globalization. This shift in politics was evident in the decision by UK voters to leave the European Union in June 2016, the November 2016 election of Donald Trump to the presidency of the United States, as well as the rise of populist movements on left and right throughout much of Europe. To many voters, the economy appears to be broken. Conventional politics is failing. Parties of the left and centre-left have struggled to forge a convincing response to this new phase of globalization in the aftermath of the 2008 crisis. This book examines the challenges that the new era of globalization poses for progressive parties and movements across the world. It brings together leading thinkers and experts including Andrew Gamble, Jeffry Frieden and Vivien Schmidt to debate the structural causes and political consequences of this new wave of globalization. Cover......Page 1 Title Page......Page 4 Copyright......Page 5 Contents......Page 6 Contributors......Page 8 List of Tables......Page 10 Preface......Page 11 The Great Globalization Disruption: Democracy, Capitalism and Inequality in the Industrialized World......Page 12 The ‘Trilemma’ of Globalization......Page 18 Globalization and the Post-War Social Contract......Page 19 Progressive Movements and Forces......Page 21 Chapters......Page 22 Conclusion......Page 32 References......Page 33 Part I: Taking Stock – the Rise of the New Populism......Page 36 1. Globalization and the New Populism......Page 38 Populism......Page 40 Globalization......Page 43 Conclusion: Embedded Populism?......Page 50 References......Page 52 2. The Backlash Against Globalization and the Future of the International Economic Order......Page 54 The World Economic Order: the Past 70 Years......Page 55 The Globalization Backlash......Page 56 Implications for the International Economy......Page 59 What Might be Done?......Page 61 References......Page 62 Introduction......Page 64 Centre-Left Parties and Populism in Western Europe......Page 65 Into the Mainstream? Populism as a Form of Political Communication......Page 69 Labour, the Social Democrats and the Populist Contenders......Page 71 Populist Political Communication going Mainstream?......Page 72 Comparative Analysis......Page 77 Conclusion......Page 78 References......Page 79 Introduction: Europe and Globalization......Page 84 Europeans’ Attitudes towards Globalization......Page 86 Policy Initiatives......Page 90 Investment Plan......Page 91 Youth Guarantee......Page 93 Conclusion......Page 97 Notes......Page 98 References......Page 99 Introduction: Social Democracy in Crisis......Page 102 The Great Recession and its Impact on Social Democratic Ideas and Ideology......Page 104 Consequences of the Social Democratic Decline......Page 106 Searching for Solutions: The Difficulty of Defining a Social Democratic Electoral Offer......Page 108 Laying out a New Social Democratic Agenda......Page 110 Modernization of the Welfare State......Page 113 Reforming the Organization and Functioning of Social Democratic Parties......Page 115 References......Page 116 Part II: Brexit, Populism and the Future of the European Union......Page 118 6. Brexit and Globalization: Collateral Damage or an Accident Waiting to Happen?......Page 120 No Love Lost......Page 121 A Divided Country......Page 123 Renegotiation and High Stakes......Page 125 Questions Not Asked and the Unholy Alliance......Page 128 Who’s Next?......Page 132 Notes......Page 134 References......Page 136 Introduction......Page 138 The EU Response to Brexit: Unity with a Purpose......Page 139 The European Union’s Key Challenges......Page 141 The Populist Challenge......Page 147 Conclusion......Page 151 References......Page 153 8. Brexit: A Consequence of Globalization or a Case of British Exceptionalism?......Page 156 Conclusion......Page 172 References......Page 173 Part III: What is to be Done? Domestic and International Policies to Deal with Globalization......Page 176 9. Where Might the Next Generation of Progressive Ideas and Programmes Come From? Contemporary Discontents, Future Possibilities for Europe......Page 178 Contemporary Discontents and their Sources......Page 179 Where Do Progressive Ideas Come From? And Who are the Agents of Change?......Page 184 How Do Progressive Ideas Bring About Change: Revolutionary or Incremental?......Page 186 Toward a Next Generation of Progressive Ideas for Europe......Page 189 Progressive Ideas for the Eurozone......Page 190 Progressive Ideas for (Re)Envisioning the Future of the EU......Page 191 References......Page 193 10. Globalization as a Losing Game? Reforming Social Policies to Address the Malaise of Globalization’s Losers......Page 198 Problematising the Globalization Winners-versus-Losers Debate......Page 199 The Limitations of Social Investment......Page 202 Encouraging Private Investment in Higher Education......Page 204 Overcoming the Insider–Outsider Divide......Page 205 The Way Forward for Social Democracy......Page 207 Conclusion......Page 211 References......Page 213 Introduction......Page 218 Beyond Trade-Offs and Trilemmas......Page 220 Social Investment Synergies and the Matthew-Effect Fallacy......Page 232 The Ambivalent Politics of Social Investment and the Crisis of Social Democracy......Page 237 References......Page 243 ‘The Force of Globalization’: An Unsatisfactory Account......Page 246 The EU and Social Cohesion: An Optimistic and a Pessimistic View......Page 248 The Erosion of Mature Welfare States......Page 253 A True Insurance Union......Page 256 Investment in Human Capital......Page 258 Fair Mobility......Page 260 Conclusion: A European Social Union is Part of the Equation......Page 264 Notes......Page 265 References......Page 267 13. Social Democracy in an Era of Automation and Globalization......Page 270 The Post-Industrial Challenge: Skills and Communities......Page 272 Social Democracy Constrained......Page 276 The Post-Industrial Responses: Effective, Visible and Cross-Class?......Page 283 References......Page 285 Introduction......Page 288 Universal Basic Services......Page 290 Conclusion......Page 291 References......Page 292 Index......Page 293