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Trump Victory Comes With A Silver Lining For The World’s Progressives

Monday, November 14, 2016 17:49
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from The Conversation

– this post authored by Yanis Varoufakis, University of Athens

The election of Donald Trump symbolises the demise of a remarkable era. It was a time when we saw the curious spectacle of a superpower, the US, growing stronger because of – rather than despite – its burgeoning deficits. It was also remarkable because of the sudden influx of two billion workers – from China and Eastern Europe – into capitalism’s international supply chain. This combination gave global capitalism a historic boost, while at the same time suppressing Western labour’s share of income and prospects.

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