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FOCUS: Hegemony Ending: One of the Ends of the Long 20th Century:
a€oedeep dream Far-called, our navies melt away;/On dune and headland sinks the fire:/Lo, all our
pomp of yesterday/Is one with Nineveh and Tyre!/Judge of the Nations, spare us yet/Lest we
forgeta€”lest we forget !a€D via Stable Diffusion on NightCafe
The estimable Nick Gruen reminds me of this passage:
Brad DeLong: Slouching Towards Utopia’. In 2003, the era in which the United States was the trusted
leader of the global-north a€oeWestern alliancea€D came to an end. At the end of the 1980s, after
the end of the Cold War, George H.W. Bush reassured the world that US military supremacy was benign
because the US military would be deployed only in support of an overwhelming majority vote of a
countrya€™ s people, or according to the will of the UN
a€oeTrusted leadera€D is perhaps laying it on too thick.
But it is the case that from 1870 to 2010 first the United Kingdom and then the United States
believed that it was a benevolent hegemon, guiding the world militarily, diplomatically, and
economically toward an ever-brighter future of prosperity, peace, and civilization. On the military
side, preventing the growth of an authoritarian or radical power that could upset the liberal
order; on the diplomatic side, a concert of liberal powers or of united nations; and on the
economic side globalization and trade. This meant that often the hegemonic power had to, or
perceived itself as having to, submerge its own short-run national interests in order to keep the
global international system on course.
All this fell apart in 2003, and more sale in 2017, as the United States shifted to acting much
more like simply another normal great powera€”and an erratic and ill-governed one at that.
Share
MUST-READ: Karl Marx in Perspective:
Branko Milano vic: The unexpected immortality of Karl Marx: Socrates and Jesus... would not have
become worldwide... had it not been for people who propagated their thought... Plato, and...
Paul.... [For]] Marx, that role was played by Friedrich Engels. Had not Engels spent more than a
decade putting Marxa€™ s papers in order and producing, out of dispersed notes, two additional
volumes of Das Capital, Marxa€™ s fame would
have ended at the point where it was in 1883. It would have been rather minimal....
Had there not been the Great War... Marxa€™ s influence would have steadily gone down as the
social-democrats in Germany moved toward reformism and a€oerevisionisma€n. His picture would have
probably been displayed among the historical a€oemaA®tres A pensera€D of the German
social-democracy but not much of his influence would have remained. But then the October
Revolution and Lenin came (the second event),
totally transforming the scene....
Then as the Comintern began to abandon its Eurocentrism and to get engaged into anti-imperialist
struggles in the Third World, Marxa€™ s influence expanded to the areas no one could have predicted
it would (the third event). This decisive turn away from Eurocentrism and towards the Third World,
including, of momentous importance, to China, transformed Marx from a German and European thinker
into a global figure. Who
could have imagined that two bearded 19th century German exiles would on special occasions adorn
the Gate of Heavenly Peace in Beijing?
Responsibility. But with the success goes responsibility. As communisma€™ s crimes became better
known, and gradually increasingly laid at Marxa€™ s door, and as communist regimes sputtered and
their mournful and poorly educated ideologues regurgitated predictable phrases, Marxa€™ s thought
suffered an eclipse. And the question was asked: were Marxa€™ s ideas, his a€oespirita€D,
responsible for many of the atrocities
committed by the regimes that ruled in his namea€’’perhaps his a€ceghostsa€D?... The ideas that
were implemented in the 1920s Soviet Union, and after the Second World War in most of Eastern
Europe and China were very much the ideas that Marx expressed in his writings even if his
discussion of the post-capitalist society was scarce....
The influence did not end: the Chinese governments™ s decision in the early 1980s concerning how
far to allow the growth of the private sector was justified by Marxa€™ s true or apocryphal
statement that workersa€™ exploitation was acceptable if the total number of employees hired by a
capitalist does not exceed seven. Even the violence which often accompanied communist revolutions
or policies cannot be simply ascribed to
historical contingencies or the non-democratic past of the countries that implemented Marxist
ideology.... His was not exactly the language of reformism, conciliation, and Seethe long march
through the institutionsSn....
Did we thus establish his responsibility and should we stop there? Not really. Because it is wrong
to draw a direct line, or to entirely reject, an ideology because of its real-world
consequences.... The ideas of the French Revolution of liberty, equality, and fraternity are not to
be dismissed because that revolution quickly degenerated into reign of terror. MarxS™ s ideas have
indeed to be held responsible as much as the ideas of other
economists and political scientists but that responsibility cannot obliterate the importance of his
core ideas of human progress, equity, and revolution.
The rebel, the critic, and the analyst. There are two features of Marxa€™ s that will, guarantee
his influence.... The first is rebellion or revolution in its most primordial meaning of dramatic
and thoroughgoing change.... Marx will always appeal to people who want to change the existing
order of things. So long as capitalism exists, Marx will be read as its most astute analyst. He
identified two crucial and historically original features
of capitalism: insatiable need for gain (a€oe Accumulate, accumulate, this is Moses and all the
prophetsa€D), and the need for perpetual expansion to new territories or areas of production.... If
capitalism ceases to exist, however, Marx will be read as its most prescient critic. So whether we
believe that in another 200 years, capitalism will be with us or not, we can be sure that Marx
will...
Very nicely donea€’’although I still prefer my own:
iBrad DeLong's Grasping Reality
Understanding Karl Marx
I greatly enjoy and am, in fact, driven to write Grasping Realitya€”but its long-term viability and
quality do depend on voluntary subscriptions from paying supporters. I am incredibly grateful that
tha€!
Read more
6 months ago A- 2 likes A- 3 comments A- Brad DeLong
And I would especially call to your attention: Jonathan Sperber: Karl Marx: A 19th-Century Life
<https://archive.org/details/karlmarxnineteenOOOOsper>
HOISTED FROM AzE ARCHIVES: Five Books on A34e Classical Economists (2020-09-29)
The Best Books on the Classical Economists recommended by Brad DeLong They were an eclectic bunch,
including, among others, a stock market speculator, a moral philosopher, a cleric, a lawyer and a
joura€!
Read more
2 years ago A- 4 likes A- Brad DeLong
Plus here are some ideas for a book that somebody someday should write:
Brad DeLong's Grasping Reality
Trying to Take "Modes of Production" Seriously
I greatly enjoy and am, in fact, driven to write Grasping Realitya€”but its long-term viability and
quality do depend on voluntary subscriptions from paying supporters. I am incredibly grateful that
the great bulk of it goes out for free to what is now well over ten-thousand subscribers around the
world. If you are enjoying the newsletter enough to wish to join the group receiving it regularly,
please press the button below to sign up for a free subscription and get
(the bulk of) it in your email inbox. And if you are enjoying the newsletter enough to wish to join
the group of supporters, please press the button below and sign up for a paid subscription^!
Read more
7 months ago A- 2 likes A- 2 comments A- Brad DeLong
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OA34er Things Azt Went Whizzing bya€!
Very Briefly Noted:
• Quantian: a€~Dear Reddit: A friend of mine ran into some trouble with the law and was arrested
Friday. The cops came around to my house and asked if we saw him Thursday night, but even though we
had dinner together I denied knowing him 3 times. Now my friends are on my case about this.
AITA?a€!
• Paul Krugman: Nobody cares about Bidena€™ s energy policy. Great!: a€~Bidena€™ s
Carrots-Not-Sticks Approach to Climate Policy Is Looking Pretty Gooda€!
• Martin Wolf: Central banks are right to act decisively: a€~The worst possibility would not be
for disinflation to be done too slowly but for policymakers to give up too quicklya€!
• Ben Collins: a€~I am blocked by a man named CatTurd2 on the internet, making it considerably
harder for me to figure out the business strategy of the richest man in the worlda€!
• Aaron Rupar: 40 seconds from Trump's mess of a campaign launch speech that stuck with mea€!
• Brooke Masters: How not to fire people: a€~Badly done lay-offs at Twitter and elsewhere could
wound the tech sector for years to comea€!
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AJs:
John Ganz: A Fascism and Far Right Reading List: a€~The Anatomy of Fascism - Robert Paxtona€!. A
History of Fascism, 1914-1945 - Stanley G. Paynea€!. The Civic Foundations of Fascism in Europe a€”
Dylan Rileya€!. Fascists - Michael Manna€!. Fascism (Oxford Readers) - Roger Griffin, eda€!.. The
Occult Roots of Nazism: Secret Aryan Cults and their Influence on Nazi Ideology - Nicholas
Goodrick-Clarkea€!. The Crisis of German
Ideology: Intellectual Origins of the Third Reich - George L. Mossea€!. The Politics of Cultural
Despair - Fritz Sterna€!. Reactionary Modernism: Technology, culture, and politics in Weimar and
the Third Reich - Jeffrey Herfa€!. Neither Left nor Right: Fascist Ideology in France and The Birth
of Fascist Ideology: From Cultural Rebellion to Political Revolution - Zeev Sternhella€!.
Nationalism, Antisemitism, and Fascism in France - Michel
Winocka€!. The Politics of Resentment: Shopkeeper Politics in Nineteenth Century France - Philip
Norda€!. A History of Fascism in France: From the First World War to the National Front - Chris
Millingtona€!. Italian Fascism: Its Origins and Development - Alexander De Granda€!. The Seizure of
Power: Fascism in Italy 1919-1922 - Adrian Lytteltona€!. The Fascist Ego: A Political Biography of
Robert Brasillach - William R. Tuckera€!. The
Appeal
of Fascism: A Study of Intellectuals and Fascism, 1919-1945 - Alistair Hamiltona€!.
Avant Garde Fascism: The Mobilization of Myth, Art, and Culture in France, 1909a€“1939 - Mark
Antliffa€!
Milky Eggs: What happened at Alameda Research: a€~If you want to read a poorly researched fluff
piece about Sam Bankman-Fried, feel free to go to the New York Times(PDF). If you want to
understand what happened at Alameda Research and how Sam Bankman-Fried (SBF), Sam Trabucco, and
Caroline Ellison incinerated over $20 billion dollars of fund profits and FTX user deposits, read
this article.... Tentative[ly]. Alamedaa€™s market-making
edge decayed and they started punting longs.... Alameda was an incredibly disorganized, poorly run
trading firm.... Sam Bankman-Fried was erratic, rash, and potentially incompetent.... Collusion
between Alameda and FTX caused huge losses from algo failures.... Loans collateralized by FTT/SRM
resulted in reflexive liquidations. We dona€™t actually have a great idea of exactly how Alameda
and FTX burned through as many billions
of dollars as they did...
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