Originally posted October 25, 2018, 9:00 am by Said El Mansour Cherkaoui, Ph.D.
Originally posted October 25, 2018, 9:00 am
Creating new social strata to move out the old bourgeois that was from artisans, guilds, shop owners, and traders-financiers who were considered as heads of companies and rulers of governmental entities as the representatives of the imperialist era and the commercial overseas expansion.
This old bourgeoisie / middle class had procreated another stratum of international heads of companies that sought internationalism as a shield for the protection of national interests and as a source for the supply of primary goods first and second as a reservoir of labor and demand that were necessary to increase of their productivity.
Milton Friedman and his school of thought created a liberal doctrine based on monetarism and the instillation of a new Technocratie that will complete reform and rejuvenate the work of the aforementioned subclasses by providing their system with the missing link that has been the keen and the angular stone for the rise of communism which the management of The Capital.
Milton Friedman sought to limit the influence of Karl Marx and the reformers of Capitalism such as John Maynard Keynes to establish a layer and way to manage Capitalism that is closer the Hayek than Adam Smith or Ricardo by opening the door of the Central State with the key of monetarism and the making of the monetary new system with its direct impact on the circulation of money and the resolution of all the capital transactions by giving it a new form of management and definition as source of creation of value that is higher than the mobilised capital in machines and production of goods.
Liberalism for National Capitalism and Protectionism for International Trade
Said El Mansour Cherkaoui December 13, 2022 – updated on October 9, 2023 The preeminence of … Continue reading Liberalism Global: Conflict, Instability and Inflation
Mar 20, 2023 Said El Mansour Cherkaoui – Dear Readers and Friends: It is our pleasure to share with you this Dossier – Analytical Study addressing the present challenge of the financial system and the banking sector which we have titled: “Redefining Banking Globalization” Which we present it to you in the form and content as: “ Dossier – Analytical Study on Cranked Globalization, Tossed Financial Capitalism, Derailed Banking System “.. … Continue reading
Said El Mansour Cherkaoui June 18, 2023 – Originally posted October 25, 2018, 9:00 am Creating new social strata to move out the… Read More
“Laissez faire!”, said the champions of liberalism in the 19th century. In reality, the only nation which practiced, at that time, liberalism directly inspired by textbooks of political economy, was Great Britain. Even in the homeland of Adam Smith and David Ricardo, it took an intense lobbying effort involving business and working-class interests, and the terrible Irish famine of 1845-1846, for His Majesty’s government, led by Sir Robert Peel, to end up abolishing the Corn Laws.
These, enacted in 1815, restricted grain imports to the British Isles, benefiting large landowners, but heavily penalizing the growing urban working class.
I have no idea how they can put people in front of a camera and have nice looking studio around while talking with assertiveness. They are introduced to us as the creme de la creme working for these companies that are the Top of the Top in their fields of actions and operations. After all these superlatifs, when we are listening to their explanations, all I am obliged to do is to try to discern what is the explanation and where is the analysis or even just the expression of descriptive narrative in their talk and answer, as we say again in French, “on reste sur notre faim” with these talking heads not thinking heads.
La Creme de la Creme turn out to be real sour and profoundly moldy and has no flavor or taste of great thought. It is worse than those “torchons” not of the Kitchen but what we call in Parigot, the language of Paris, the Newspaper that are only good to clean with the grass left on the counter or on the pot before passing them under the water to be clean.
There is apparently nothing to clean, as we say in America: “Where is the Beef” yes indeed, there was no beef at all so the pot and casseroles are clean.
Given that Miss Clean has replaced Mr. Clean in the screen of these programs of TV Bidon, here is my predictions on what we are actually witnessing at the level of these assets that went South and wracked in Bahamas and Seoul before and in many other places around the world of the creepy and greedy ones that found their destiny drowned in a virtual world of supply chain of scams and Ponzi schemes with a plus: an Artificially Intelligent Scammer.
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The free trader’s argument was simple. It was necessary to increase the purchasing power of the workers to create an internal market capable of absorbing manufacturing production. Another argument, put forward in particular by Richard Cobden, was that of reciprocity and the need to push the governments of the Continent to lower their customs duties. Great Britain being the workshop of the world, customs duties and other quotas penalized its growth, which was highly dependent on external markets. At a time when Britain was gradually embracing the ideas of David Ricardo, the United States of America was beginning a protectionist turn. After the victory of the North over the South in the Civil War, the country of Abraham Lincoln embarked on a vast industrialization movement.
These historical developments remind us to be wary of a disembodied interpretation of economic policies. In reality, if ideas serve as arguments and intellectual guarantees for politicians to impose such and such a policy, the latter are very often the result of a calculation of interest. The new protectionist turn, initiated by the President of the United States Donald Trump, corresponds, in this respect, to a return to a situation that has prevailed for most of American history.
Liberalism, and its worldwide spread—known as globalization—has served America well as long as its corporations have dominated the world. Even today, the big American banks dominate the financial markets, even after the debacle of 2008, and the flagships of Silicon Valley – Google, Apple, Amazon, and Facebook – are at the forefront of the great global technological battle. But globalization has reshuffled the cards between States, and the balance between different social groups within States. It has especially benefited the wealthy, well-educated, and “connected” classes who have constituted a new transnational elite ranging from Los Angeles to Sao Paulo, and from Johannesburg to Shanghai.
Rising social inequality, and a sense that social progress has stalled, has fueled a growing demand for protection in Western democracies, catalyzed by the global financial crisis, which has been well-considered by some “political entrepreneurs”.
Rising social inequality, and a sense that social progress has stalled, has fueled a growing demand for protection in Western democracies, catalyzed by the global financial crisis, which has been well priced in by some “political entrepreneurs”. The latter, even if they are generally part of the elites, have found the right words to mobilize the damned of free trade and the disenfranchised of globalization.
Steve Bannon, the chief ideologue of Donald Trump’s campaign, has made economic patriotism a veritable leitmotif in his champion’s speeches. It is not surprising that the candidate Trump, once elected, does not carry out what was, ultimately, his most important commitment vis-à-vis his electoral base.
Faced with this, it is ironic to see that China, which has always protected its market in many ways, is now setting itself up as the standard-bearer of free trade. China has benefited immensely from its admission to the WTO in December 2001, made possible thanks to the consent of the United States. However, even today, China is anything but a market economy in the classic sense of the term. It is a country where the State retains strategic control over the economy, through a set of financial and organizational levers, declined from the central level to the provincial and local levels. If not state capitalism, it is capitalism run by the state. Even the giants of the Chinese digital economy, the Ali Baba, China Inc.
The debate between protectionism and liberalism is therefore only a modest fig leaf posed on far more ferocious political and geopolitical confrontations, within the framework of a race for world leadership. The real contribution of the institutions that emerged in Western Europe from the 17th century, which then spread to the rest of the world, is to have made it possible to regulate these confrontations. It is not the least paradox of economic liberalism to need a strong political authority – located outside the market – to impose the rules that allow it to function, as the historian Karl Polanyi. At the international level, this authority does not exist. The United States, thanks to its status as a hegemonic power, has in the past played the role of guarantor of the international order. They are turning away from them today, considering that these rules do not serve American interests as well as before.
Reports and Reportages by Said El Mansour Cherkaoui – October 1, 2022 🌎 Said El Mansour Cherkaoui … Continue reading Russia – Ukraine: Inter-Nationalism Versus Regional Subcapitalism
What is therefore more worrying than the defeat of liberal capitalism, which has never existed in a pure form, is this questioning of common rules, such as those of the WTO, which make it possible to regulate the inevitable tensions resulting from the confrontation between divergent and contradictory interests. It is both a consequence and a symptom of the emergence of a multipolar world, pending the foundation of a new multilateral order accepted by all.
This blog was originally published on the MEDays blogging platform, which will present its 11th forum from November 7 to 10 in Tangier, of which HuffPost Morocco is a partner.