Joseph Stiglitz : The end of neoliberalism and the rebirth of history

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56. "Neoliberal" is a smear aimed at centrist Democrats,

who have been the core of the party for the past 30 years.

Globalism was/is inevitable, due to technology and travel allowing fluidity of production, and Dems like Bill Clinton and Barack Obama were wise to embrace that, to seek a balance.

The Dem party changed not because of some DLC conspiracy, but because the Dem base changed due to civil rights - became more diverse and metropolitan, and such people/areas benefit from global trade and immigration, and feel a connection to world as a whole and not some nostalgic version of True America which has never included everyone (economically or otherwise).

As many analysts have noted, the rise of populism on the right and left is heavily driven by white resentment at the idea of jobs/money going to non-white countries - whose resources were historically exploited by the West anyway, and who are entitled to participate in the global economy and have jobs just like white people.