Although originally a top blog in 2012, this posting is still very relevent today, especially in the US and the UK.
Since 2012, the hedgefund managers have got closer to shadowy right wing politicians, especially in the UK’s Conservative Party. The rest is history: Brexit referendum; Article 50; and a likely Hard Brexit.
Bottom line: massively leveraged gains for the 1% and the 99% face loss of wealth, income, services and opportunity, plus greater dependency on immigration to keep the country afloat.
In the summer, with little hard news, left wing papers like the Guardian are blaming neoliberalism, free trade and open markets but their argument is wobbly.
The thing is there is no robust alternative to free trade and liberal open markets. Totalitarian Far-Left and Far- Right regimes have all failed – Communism and Fascism only benefited their leaders and their cronies, the 1%. I have always believed in compassionate conservatism but the UK’s Conservatives have gone back to their unfashionable roots, namely ‘tradition’ and ‘Old Conservatism‘. For the Conservatives to champion the 99%, they must offer radical visions, strategies and delivery. Having spent most of my life delivering strategic change, it is crystal clear, the Conservatives need a massive cull at the top – the next leader must be young, telepathic and strong. In terms of political philosophy, a campassionate form of neoliberalism provides the methodology. Surely, it’s time for the return of the New Right?