One of the repeated phrases in the conservative blogosphere is, to paraphrase, ‘we should believe what they say’. This comes up in discussions about Iran’s desire to create the chaos required for the return of al-Mahdi, the 12th Imam. It is an equally valid tactic when assessing the intentions of the socialists within the American Democratic Party.
Taming Global Capitalism Anew: One of the greatest achievements of the twentieth century was a social contract that provided far more economic security and prosperity for working Americans than had existed in any previous period. But successive waves of changes in the world economy, together with the ascendancy of a strain of economic philosophy that puts the freedom of capital above the interests of society, have placed enormous strain on the postwar social contracts of all Western countries, resulting in stagnating wages, greater insecurity and levels of income and wealth inequality not seen since the early 1900s.UW-Madison’s very own Sociology Professor is clear the new socialist revolution needs to begin in the United States. Changing the world starts by seizing the power necessary to implement leftist ideas, because power achieves when persuasion fails.
JOEL ROGERS: American progressives have lots of ideas on the alternative international rules and institutions in monetary policy, finance, trade, human rights and development needed to make globalization work better for the North and South. What we lack is the power to implement them. … We should build a high-road--high-wage, low-waste, democratically accountable--economy right here. Doing so will give focus to domestic efforts, connect them practically to international ones and eventually yield the organization, experience and confident social base we want to contribute to global fights. Building the high road here should be at least half of any international strategy.A Columbia University Nobel Prize winning economist contributes his two cents.
JOSEPH E. STIGLITZ: Yet Sweden and the other Scandinavian countries have shown that there is an alternative way to cope with globalization. These countries are highly integrated into the global economy; but they are highly successful economies that still provide strong social protections and make high levels of investments in people. They have been successful in part because of these policies, not in spite of them. Full employment and strong safety nets enable individuals to undertake more risk (with the commensurate high rewards) without unduly worrying about the downside of failure. These countries have not abandoned the welfare state but have fine-tuned it to meet globalization's new demands. We should do the same.The good Professor may have a stable income, a good resume and a fancy circle of admirers, but as an economist offering Sweden as the model the United States should emulate he is simply wrong and wrong.
