Anatole Kaletsky — When Things Fall Apart

The world is in a phase transition. What the new order will look like is uncertain, but dialectically, there is a reaction to neoliberal excesses. Just as Keynes's fiscalism was supplanted by Friedman's monetarism, an alternative to the neoliberal theory and policy based on it is unfolding. Thomas Piketty's Capitalism in the 21st Century delivered a shot across the bow, couched in neoclassical terms while undercutting the assumptions on which the model is based.

What is certain is that the old order is breaking down. Every breakdown presents an opportunity for a breakthrough. The chief alternative route lies through conflict.

Project Syndicate
When Things Fall Apart

Anatole Kaletsky | Chief Economist and Co-Chairman of Gavekal Dragonomics

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