John, the current globalised market economy is unsustainable as resources start to become scarce, global trade networks crack up and oil spikes higher and shortages emerge.
Key resources will not be available on the free market, trade disrupted and global supply chains destroyed.
Something will have to change.
I think it will be similar to WW1 or WW2, you had establishment politicians reacting to a wartime crisis and inadvertently bringing in a form of socialism e.g. massive state intervention in the economy to keep things going.
https://forecastingintelligence.org/201 ... y-america/
Few people are aware that the German military has also investigated the emerging era of resource scarcity, in particular oil, in a far-reaching report. As the magazine Spiegel notes, the report “…uses sometimes-dramatic language to depict the consequences of an irreversible depletion of raw materials. It warns of shifts in the global balance of power, of the formation of new relationships based on interdependency, of a decline in importance of the western industrial nations, of the “total collapse of the markets� and of serious political and economic crises.� Whilst the full report, at 112 pages, is a long read, it is worth reading to understand the multitude of challenges facing the industrial world. One can be sure that other similar reports are circulating among military and security policymakers around the world.
This has already being explored by the German military as per my blog article above.
I see no alternative to some kind of post-growth and post-market economy but I don't think it will be the big welfare/70's style social democracy of Corbyn and his merry friends.
It will be a different type of beast.
Peace always has been and always will be an intermittent flash of light in a dark history of warfare, violence, and destruction
Still, I'll take it where ever it is.