Krugman writes in today's NYTimes:
If Mr. Wolfowitz says that some free-market policy will help economic growth, he'll be greeted with as much skepticism as if he declared that some country has weapons of mass destruction. ..... rightly or not, developing countries will see Mr. Wolfowitz's selection as a sign that we're still trying to impose policies they believe have failed.
Krugman correctly notes that Latin America is now turning to the political left for solutions to their problems. Is Castroism now on the rise...after all these years?
But there are other signs of the rise of Neo-Left politics.
In Russia, for all of the harping about reversing privatization, Putin remains popular "on the street" if not with Russia's New Rich.
The Blair/Clinton style of pro-capital liberalism seems to be on the decline too.
Indeed, the amazing benefits of deregulation have by-passed America's airlines which are now pitiful economic basket cases...!
The world's long experiment with Reaganomics seems to be ending. From Reagan to Dubya the world was run "as if" only capital mattered. And the high priest of this cult was Greenspan. The end result of Reaganism has been a disaster....in the US and Globally.
In the US the structural problems of Reaganism are now considered beyond all hope of repair.....the debt and deficits are simply "faith based" finance now.
THE NEOCONS ARE YESTERDAY'S MEN..... WOLFIE AND DUBYA ARE TOTALLY OUT OF STEP WITH THE TIDES OF HISTORY NOW.
THE WORLD IS SLOWLY TURNING TO THE LEFT AGAIN......
