{"id":7150,"date":"2015-04-07T06:47:00","date_gmt":"2015-04-07T11:47:00","guid":{"rendered":"http:\/\/olduvai.ca\/?p=7150"},"modified":"2015-04-07T06:47:00","modified_gmt":"2015-04-07T11:47:00","slug":"the-school-of-globalism","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=7150","title":{"rendered":"The School of Globalism"},"content":{"rendered":"<h3 class=\"title\"><a title=\"The School of Globalism\" href=\"http:\/\/kunstler.com\/clusterfuck-nation\/the-school-of-globalism\/\" rel=\"bookmark\">The School of Globalism<\/a><\/h3>\n<p><em>\u201c\u2026we may be headed into a world where capital is abundant, deflationary pressures are substantial and demand could be in short supply for quite some time<\/em>.\u201d<\/p>\n<p>\u2014Lawrence Summers, former Secretary of the Treasury<\/p>\n<p>Professor Summers must be reading Ben Bernanke\u2019s new blog. Or maybe he\u2019s writing it for walking-around money. At $250,000 a pop for making a speech, Mr. Bernanke can certainly afford to pay high-toned hacks to polish his spin-o-nomics. Raillery aside, Mr. Summers\u2019 utterance provokes some pretty fundamental questions: what exactly is this world we\u2019re heading into, and what exactly\u00a0does that capital consist of?<\/p>\n<p>It is, first, a world of unraveling globalism. So many people who should know better \u2014 members of the supposed thinking class who have suspended their thinking \u2014 swallowed Tom Friedman\u2019s dictum that globalism was here to stay, a permanent new feature of the human condition. File that idea in the dead letter office, along with Francis Fukuyama\u2019s\u00a0<em>The End of History<\/em>. With the help of competitive central bank racketeering, desperate nations have propelled themselves from financial disorder to geopolitical turmoil and history marches on \u2014 lately to the ululations of gleeful beheaders. Friedman\u2019s flat world was predicated on a dominant and sound American polity, and we\u2019ll have neither in that world Mr. Summers says we\u2019re moving into.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The School of Globalism \u201c\u2026we may be headed into a world where capital is abundant, deflationary pressures are substantial and demand could be in short supply for quite some time.\u201d \u2014Lawrence Summers, former Secretary of the Treasury Professor Summers must be reading Ben Bernanke\u2019s new blog. Or maybe he\u2019s writing it for walking-around money. At [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[109,4672,4670,449,3284,4671,3100],"class_list":["post-7150","post","type-post","status-publish","format-standard","hentry","category-economics","tag-capital","tag-francis-fukuyama","tag-globalism","tag-james-howard-kunstler","tag-larry-summers","tag-secretary-of-the-treasury","tag-tom-friedman"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/7150","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7150"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/7150\/revisions"}],"predecessor-version":[{"id":7151,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/7150\/revisions\/7151"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}