1- surprising white pill from this episode since I've been fearing the next decade being like Russia in the 90s but I suppose you're right, the US has basically no public institutions, price control or anything like that. It may be rough, but I guess it won't be as pronounced of a fall in the same way.
2- I'm curious to hear if you discuss in later episodes the degree to which you think China is still communist today. I've read different things and I'm still undecided.
3- comrade Trump? Are we going to have a big, beautiful, 5 year plan? I agree there would need to be more state run industry to go along with tariffs, but I do wonder if his administration ends up being an accidental reformer. That, or things get much, much, worse.
Accidental reformer is very possible imo but I almost think anyone in power during this time (even Biden) is going to be forced to be radical by forces of world history
Could you remind me of the book mentioned early in the pod on the effects of 'shock therapy' in post-Soviet Russia (and any other books you'd recommend about this period) - thanks
One of the many great episodes of In Our Time with Melvyn Bragg is on Mercantilism (first broadcast in March 2023). I think it is an episode that compliments your discussion very well.
It looks at the history of Mercantilism, discussion on it's current form (or replacement such as it is), and also interesting contrasts between its history in China, Europe, and America.
One interesting comment towards the end of the discussion is that you can have any 2 of the following 3: Free Elections, National Sovereignty, Free Trade, but you can't have all 3.
At the time you posted this, the British state was actually in the process of quasi-nationalising the Chinese owned British Steel Scunthorpe works, because its owner - Jingye - had attempted to shutdown the plant's two, and Britain's last, blast furnaces.
The reason they were Britain's last two blast furnaces is because Indian owned (Tata) Port Talbot Steelworks had shut the other two in their possession 6 months previously. The government had begged Tata (and offered them a lot of money) to keep them open, but were ignored. Interesting dynamic going on whereby the government was loathe to nationalise a Tata plant (who also happen to own Jaguar Land Rover), but felt politically able to intervene against the Chinese owned Jingye. A great example of geopolitics shaping the contours of domestic economic policy.
The government have signalled their intention to reprivatize Scunthorpe as quickly as possible, although the likelihood is it will fall into public ownership by default, because it isn't viable as a commercial entity, and only has value as a sovereign-strategic one.
Good show! A few thoughts/questions
1- surprising white pill from this episode since I've been fearing the next decade being like Russia in the 90s but I suppose you're right, the US has basically no public institutions, price control or anything like that. It may be rough, but I guess it won't be as pronounced of a fall in the same way.
2- I'm curious to hear if you discuss in later episodes the degree to which you think China is still communist today. I've read different things and I'm still undecided.
3- comrade Trump? Are we going to have a big, beautiful, 5 year plan? I agree there would need to be more state run industry to go along with tariffs, but I do wonder if his administration ends up being an accidental reformer. That, or things get much, much, worse.
Accidental reformer is very possible imo but I almost think anyone in power during this time (even Biden) is going to be forced to be radical by forces of world history
谢谢
Is there a part two that I am somehow missing?
just posted https://open.substack.com/pub/angelanagle/p/rocinante-episode-9?r=vzjd&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true
Great show by the way. I am actually reading that book based on the recommendation from last week
Part 2 is live here
https://open.substack.com/pub/angelanagle/p/rocinante-episode-9?r=vzjd&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true
Thanks Angela
Could you remind me of the book mentioned early in the pod on the effects of 'shock therapy' in post-Soviet Russia (and any other books you'd recommend about this period) - thanks
The Godfather of the Kremlin: Boris Berezovsky and the Looting of Russia
thanks
One of the many great episodes of In Our Time with Melvyn Bragg is on Mercantilism (first broadcast in March 2023). I think it is an episode that compliments your discussion very well.
It looks at the history of Mercantilism, discussion on it's current form (or replacement such as it is), and also interesting contrasts between its history in China, Europe, and America.
One interesting comment towards the end of the discussion is that you can have any 2 of the following 3: Free Elections, National Sovereignty, Free Trade, but you can't have all 3.
I haven’t heard it but will listen. Best show on the radio!
"we can all share the ashy and irradiated means of production" lol
At the time you posted this, the British state was actually in the process of quasi-nationalising the Chinese owned British Steel Scunthorpe works, because its owner - Jingye - had attempted to shutdown the plant's two, and Britain's last, blast furnaces.
The reason they were Britain's last two blast furnaces is because Indian owned (Tata) Port Talbot Steelworks had shut the other two in their possession 6 months previously. The government had begged Tata (and offered them a lot of money) to keep them open, but were ignored. Interesting dynamic going on whereby the government was loathe to nationalise a Tata plant (who also happen to own Jaguar Land Rover), but felt politically able to intervene against the Chinese owned Jingye. A great example of geopolitics shaping the contours of domestic economic policy.
The government have signalled their intention to reprivatize Scunthorpe as quickly as possible, although the likelihood is it will fall into public ownership by default, because it isn't viable as a commercial entity, and only has value as a sovereign-strategic one.
Very interesting. Thanks.