Consent Manufactured? Bill Clinton, Treasury, and Russia

27/09/2020

In his 2002 book, Globalization and Its Discontents, Joseph Stiglitz goes over how he believes Russia’s transition from “communism” to a “market economy” failed after the collapse of the Soviet Union. Despite his mistake in stating that Russia was somehow “Marxist” in nature beforehand, it does explain how, with US assistance, the country continued to freefall to levels below what they were under the Soviet regime. The minute point I want to dissect from this, however, is his faith in then President of the United States, Bill Clinton, to have taken stronger action if he “had been confronted with the arguments”.

I doubt it.

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Globalisation Conveniently Works When People Lose

07/09/2020

I am reading Globalization and Its Discontents (damn Americanisation’s), the updated version with the advent of Donald Trump, written by Joseph E. Stiglitz. In it he describes how globalisation has seemingly failed the world, producing discontents with the system. In the 2002 edition, it was mostly the developing world that suffered, but more recently developed countries have increasingly opposed globalisation. Stiglitz argued this is due to gross mismanagement, but as he admits later, even well managed globalisation results in “losers” in the system.

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