2 results for "Economic History"

The great debate: Edmund Burke, Thomas Paine, and the birth of right and left

Levin, Yuval
"In The Great Debate Yuval Levin explores the origins of the familiar left/right divide in American politics by examining the views of the men who best represent each side of that debate: Edmund Burke and Thomas Paine. In a groundbreaking exploration of the origins of our political order, Levin shows that our political divide did not originate (as many historians argue) in the French Revolution, but rather in the Anglo-American debate about that revolution. Burke and Paine were both utterly fascinating figures--active in politics, versed in philosophy, and two of the best, most effective and powerful political writers and polemicists in the history of the English speaking world. Levin sets the work of these two men against the dramatic history of their era and shows how they mixed theory and practice to advance their very different notions of liberty, equality, nature, history, reason, revolution, and reform. Paine believed in radical change and saw the American and French Revolutions as catalysts for creating a new society; Burke believed in a significantly more gradual approach with each generation acting merely as part of a long chain of history. These differing approaches to revolution and reform created a division that continues to shape our current political discourse--including issues ranging from gun control and abortion to welfare and economic reform"--
Basic Books 2014 275 pages

The populist temptation: economic grievance and political reaction in the modern era

Eichengreen, Barry J.
" In the last few years, populism--of the right, left, and center varieties--has spread like wildfire throughout the world. The impulse reached its apogee in the United States with the election of Trump, but it was a force in Europe ever since the Great Recession sent the European economy into a prolonged tailspin. In the simplest terms, populism is a political ideology that vilifies economic and political elites and instead lionizes 'the people.' The people, populists of all stripes contend, need to retake power from the unaccountable elites who have left them powerless. And typically, populists' distrust of elites shades into a catchall distrust of trained experts because of their perceived distance from and contempt for 'the people.' Another signature element of populist movements is faith in a savior who can not only speak directly to the people, but also serve as a vessel for the plain people's hopes and dreams. Going back to the 1890s, a series of such saviors have come and gone in the US alone, from William Jennings Bryan to Huey Long to--finally--Donald Trump. In The Populist Temptation, the eminent economic historian Barry Eichengreen focuses on the global resurgence of populism today and places it in a deep context. Alternating between the present and earlier populist waves from modern history, he argues that populists tend to thrive most in the wake of economic downturns, when it is easy to convince the masses of elite malfeasance. Yet while there is more than a grain of truth that bankers, financiers, and 'bought' politicians are responsible for the mess, populists' own solutions tend to be simplistic and economically counterproductive. Moreover, by arguing that the ordinary people are at the mercy of extra-national forces beyond their control--international capital, immigrants, cosmopolitan globalists--populists often degenerate into demagoguery and xenophobia. There is no one solution to addressing the concerns that populists raise, but Eichengreen argues that there is an obvious place to start: shoring up and improving the welfare state so that it is better able to act as a buffer for those who suffer most during economic slumps. For example, America's patchwork welfare state was not well equipped to deal with the economic fallout that attended globalization and the decline of manufacturing in America, and that played no small part in Trump's victory. Lucidly explaining both the appeals and dangers of populism across history, this book is essential reading for anyone seeking to understand not just the populist phenomenon, but more generally the lasting political fallout that follows in the wake of major economic crises. "--
Oxford University Press 2018 244 pages