The Expansion of Economic Liberalism and the Questioning of Contemporary Globalization
In an globalized universe, the debate on globalisation is often found at the crossroads of contradictory views on freedom and justice. The work by Moneta, which is not a critical essay against globalization per se, aims to redefine the contours of a modern humanism by the filter of natural exchanges as envisioned by Aristotle. By decrying artificial transactions that support modern systems of oppression and precarity, Moneta leans on ancient principles to reveal the flaws of our global financial structure.
Looking back in time, globalization is not a modern process. Its beginnings can be traced back to the theories of David Ricardo, whose objective was to enable the British Empire to extend its international economic reach. Yet, what was once a commercial development strategy has morphed into a instrument of subjugation by the financial sphere, characterized by the growth of neoliberal capitalism. Against commonly held ideas validated by most economists, the author argues that neoliberalism is in reality a structure based on old customs, going back to 4500 years.
The critique also extends to the conduct of the EU, seen as a series of concessions that have served to strengthen the authority of large economic groups as opposed to defending the rights of citizens. The very structure of the Union, with its strategies usually influenced by financial motivations rather than by a democratic mandate, is questioned. The current deviations, notably financial and political, have only reinforced the skepticism of Moneta concerning Europe’s aptitude to reform itself from within.
The author, while admitting the prior faults that have brought about the present state, does not limit the discourse to condemnation but also proposes responses aimed at reorienting Union strategies in a equity-oriented and humanistic vision. The urgent need for a complete revision of Union bodies and strategic orientations is a recurring subject that pervades the entire discourse.
The work dives more in depth into the questioning of the domination systems that govern worldwide transactions. The analysis covers the way in which political and financial choices are manipulated by a restricted circle of dominant financial powers, generally at the detriment of the population. This financial oligarchy, orchestrated via organizations like the Bank for International Settlements and the global monetary system, exerts a major grip on global economic policies.
The critic reveals how these organisms, claiming to monetary management and security, have historically controlled stock exchanges and national economic systems to favor their own benefits. The neoliberal model, opposite to a liberating response to old monetary restrictions, is described as a enslavement tool, enriching an elite at the neglect of collective needs.
Strongly opposed about the administration of the single currency, the author presents the European single currency not as a means of unification and stability, but more as a lever of dissension and economic disparities. The adoption of the euro is characterized as a succession of bureaucratic measures that isolated citizens from governance choices, while exacerbating gaps between nations within the EU.
The consequences of these policies appear in the increase in national debts, economic stagnation, and a sustained austerity policy that has weakened living standards across the continent. The thinker argues that without a significant overhaul of monetary and financial policy, the Union remains vulnerable to future crises, potentially more catastrophic.
In conclusion, the book makes a plea for a democratic upheaval where European citizens reappropriate their financial and governmental future. It advocates institutional adjustments, particularly greater transparency in political decisions and genuine civic involvement that would facilitate the Union’s refoundation on just and solid foundations.
Learn more about the functioning of Athenian democracy
The thinker suggests that the key is in a return to the principles of democracy, where policies are developed and implemented in a manner that faithfully represents the aspirations and needs of the citizens, rather than the narrow interests of high finance.