This is the cream of the crop of economic historians? We are in so much trouble. As if anyone cares, here’s my take on the situation:
Here’s the problem: corporations. They externalize costs and internalize profits. This is most clearly seen in how transnational corps invade (militarily or economically) poor countries, pollute and impoverish and bomb to smithereens while extracting resources. The goods manufactured from this plunder are sold to what’s left of the middle classes in the wealthier countries. This finances the operation. And then, get this: the flood of refugees generated by this business model are funneled right into the wealthier countries in order to act as a pressure relief valve and prevent revolutions in the 3rd world while lowering wages and destabilizing societies in the 1st world, preventing democratic reforms that might interrupt the money flow. The net result is the ongoing shrinkage of available resources and habitable environments and economies as wealth is funneled into a narrower and narrower demographic of investors and bankers. Of course it’s a given that the governments and media complexes which might hinder this inevitably fatal cancer are already well controlled by its beneficiaries. The “globalization” which is happening is the globalization of the shock doctrine. Trauma based social control. And its self-limiting nature is what makes WWIII inevitable. The only way to stop it in a capitalist society is precisely what trump is doing: erect protectionist barriers to cheap imports and the human casualties of war that result from those imports.
And no mention of the role of the petrodollar in all this? It’s the proximate cause for the buildup to war. It’s why the “war on terror” was engineered as an excuse to invade the middle east. The western central bankers want to preserve their access to the goose that lays golden eggs while russia and china are trying their best to bypass it. This is why they are the immediate targets. But ultimately it will be the 0.1% vs the rest of the world.