Non-stop talk about the post-globalization world
Are we headed for a post-globalization world? I don't know but I'm sure that one of the hottest commodities in the post-globalization world will be commentary on how to survive in the post-globalization future.
Martin Wolf writes in the FT today, warning that global elites must heed the warning of populist rage.
His take, that the remedies of populist leaders like Trump and Le Pen are bogus. But the illnesses are real. He writes that the financial crisis and stagnating incomes "have destroyed popular confidence in the competence and probity of business, administrative and political elites."
He continues on with solutions:
- Global cooperation must be oriented towards things countries can't do themselves, like managing climate change
- Reform capitalism to diminish finance and the excessive power of shareholders
- Co-operate on taxation
- Spend for stimulus and raise minimum wages
- Fight protectionism
- Above all, he writes, don't deny the problem and continue on the current path
Another article today focuses on "Trumpenproletariats" which is a Macquarie Group take on the Marxist word "Lumpenproletariat" which described the cast-asides in the economy. They also touch on automation.
"Past technological evolutions were aimed to supplement humans, the Third Industrial revolution is aiming to replace them completely, and hence we continue to view it as intrinsically far more disruptive," Macquarie writes.
Finally, a KeyBanc analyst is out with a note upgrading Papa John's pizza on the thesis that diners will order in more because of political and civil unrest.
"After speaking with several large operators and industry contacts, we believe the recent decline in casual dining restaurant segment fundamentals-traffic down 3% to 5% the past several weeks-may be the result of consumers eating more at home amid the current political/social backdrop, which we believe could last through the November election," KeyBanc analysts wrote in a note published Tuesday.