In Quest of a Multi-Polar World

In this second round of conversation, Professor Michael Hudson and Pepe Escobar discuss the emerging economic world order which they define not so much as a conflict between nations, but a rivalry between two competing models of the economy. The finance capital driven model of the West with a domination of the FIRE sector, versus the mixed economy model represented by China and Russia which seeks to rein in rent seeking, combined with public banking and state funded infrastructure to support market compliant industrial development. In Professor Hudson’s view, this model was advocated by classical economists, from Mill, Ricardo, to Henry George; and is largely responsible for the West’s past successes.

3 Responses

  1. Mary Rose Kaczorowski says:

    can you address the following

    Why Populists Want a Multipolar World
    Aspiring authoritarians are sick of the liberal order and eager for new patrons in Russia and China.
    By Alexander Cooley, the Director of Columbia University’s Harriman Institute and the Claire Tow Professor of Political Science at Barnard College, and Daniel Nexon

  2. David Harold Chester says:

    This explanation is unclear. The claim that Russia and China are following a model of mixed economy and that this is according to the classical economists is very strange and is not the actual situation. These two countries are dictator-led which means that the way their economies are organized is not according to these past clasical writers but that instead the central government is not well adapted to the local conditions and needs of the populations. To maintain the power of the dictatorship, the methods used for controlling the political asperations of the people are brutal and unjust.

  3. We in the United States are in a desperate struggle to preserve and strengthen the institutions of participatory democracy. I have recently attempted to examine the differences in the systems of values and beliefs held by factions in our society. My analysis and my conclusions can be viewed and listened to in a recorded lecture titled: Liberalism: Victim of Ideologies Embracing Moral Relativism” on my personal Youtube channel:

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