The Coming of Neo-Feudalism by Kotkin Joel;

Author:Kotkin, Joel;
Language: eng
Format: epub
Publisher: Lightning Source Inc. (Tier 3)
Published: 2020-05-14T16:00:00+00:00

CHAPTER 21

Can We Challenge Neo-feudalism?

The hope that we might see a global convergence toward democracy, as was once predicted by Francis Fukuyama and Thomas Friedman among others, seems increasingly remote. As China has grown both richer and more powerful, it has not become more like us, but instead has developed an authoritarian form of state capitalism.1 Globally, democratic governance appears to have peaked in 2006, and many countries—including Turkey, Russia, and China—have become far more authoritarian. Even democratic India and many European countries have seen their own constitutional order frayed by internal dissension and racial and religious divisions.2

China’s “civilization state,” deeply rooted in thousands of years of history, represents the most profound philosophical challenge to liberal values since the end of the Cold War.3 Jorgen Randers, a professor emeritus of climate strategy at the BI Norwegian Business School, predicts a Chinese-dominated global future, despite the country’s many environmental and other challenges. “Western nations are not going to collapse, but the smooth operation and friendly nature of Western society will disappear, because inequity is going to explode,” Randers argues. “Democratic, liberal society will fail, while stronger governments like China will be the winners.”4

Even without the Chinese challenge, Western countries are already seeing more economic centralization, albeit in private hands. Over the past few decades, a small group of oligarchs, like Warren Buffett, have made vast fortunes by buying up businesses with little competition as a way to ensure monopoly profits.5 More important still, the technological elite, highly adept at manipulating the tax code for their own benefit, continue to consolidate power in critical market sectors, making themselves into overlords more influential and powerful than most governments.6

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