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On the blogs

Was the 20th century long or short? -- Branko Milanovic on the political (Hobsbawm) versus economic (De Long) dating of the 20th century. I prefer the economic, but not Brad's timing, mine would go from the Great Depression to the oil shock (1929-1973), which roughly corresponds to the Keynesian era

Dealing with the Trade Deficit -- Josh Mason on the lack of need for the US of a favorable trade balance and the role of the dollar, something often discussed in this blog

Trump’s Carrier deal could permanently damage American capitalism -- Larry Summers, and I guess the neoliberal wing of the Dems, agree with Sarah Palin that the Carrier deal is crony capitalism

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A few brief comments on Brexit and the postmortem of the European Union

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There will be a lot of postmortems for the European Union (EU) after Brexit. Many will suggest that this was a victory against the neoliberal policies of the European Union. See, for example, the first three paragraphs of Paul Mason's column here. And it is true, large contingents of working class people, that have suffered with 'free-market' economics, voted for leaving the union. The union, rightly or wrongly, has been seen as undemocratic and responsible for the economics woes of Europe.

The problem is that while it is true that the EU leaders have been part of the problem and have pursued the neoliberal policies within the framework of the union, sometimes with treaties like the Fiscal Compact, it is far from clear that Brexit and the possible demise of the union, if the fever spreads to France, Germany and other countries with their populations demanding their own referenda, will lead to the abandonment of neoliberal policies. Aust…

A brief note on Venezuela and the turn to the right in Latin America

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