Economist Branko Milanovic argues that neoliberalism, as the dominant model, will not return after the rise of national-liberalism and the financial crises in Asia and the West. For citizens, this implies a shift in tax, employment, and public service policies, moving towards a more protectionist and less globalized system that redefines the rules of the economic game.
How technology adapts to a less globalized world 🌍
Emerging protectionism forces a rethink of supply chains and technological development. Companies seek resilience through local automation and additive manufacturing, reducing dependence on distant markets. Artificial intelligence optimizes resources in closed economies, while cybersecurity gains weight amid trade restrictions. Innovation becomes decentralized, prioritizing regional solutions over global standards.
Neoliberalism retires, but without a pension 😅
Milanovic announces the end of neoliberalism, but no one told the politicians who still promise magical tax cuts. Now national-liberalism arrives with tariffs and patriotic speeches, like that friend who embraces flags but charges a toll at every border. Citizens expect fairer taxes, but will surely end up paying the protectionism bill with a forced smile.