The political crisis of globalization

Luiz Carlos Bresser-Pereira

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The Brexit, Donald Trump's election and rise of the extreme right express the political crisis of globalization. National solidarity, first, and social-democracy, later on, have mitigated Capitalist exploitation. The demise of these two institutions led global capitalism to the present political crisis. After more than forty years of globalization, the idea of nation has turned much weaker in the West. As to social democracy, the shift of the political center to the right, which defined the Neoliberal Years of Capitalism (1979-2008), has detracted it from its own character, as it became difficult to differentiate the social-democratic from the conservative political parties.

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