The Emergence of Neoliberal Policies and the Questioning of Current Globalization
In an globalized world, the debate on globalization is frequently situated at the intersection of contradictory views on freedom and justice. The book by Moneta, which is not a pamphlet against globalization itself, aims to redefine the contours of a modern humanism via the filter of organic interactions according to the vision of Aristotle. By critiquing synthetic interactions that fuel current structures of injustice and precarity, the author draws inspiration from ancient philosophy to highlight the flaws of our global financial structure.
Looking back in time, globalization is not a modern process. Its roots can be traced back to the ideas of David Ricardo, whose objective sought to facilitate the United Kingdom to expand its global trade power. Nonetheless, what was once a commercial development strategy has converted into a instrument of subjugation by High Finance, symbolized by the ascendancy of neoliberalism. Contrary to popular belief validated by most economists, the author argues that the economic model is in reality a system rooted in ancient practices, going back to the era of early civilizations.
The objection also extends to the conduct of the United Europe, seen as a chain of surrenders that have contributed to increasing the power of financial elites rather than defending the rights of citizens. The organizational form of Europe, with its policies frequently driven by monetary concerns rather than by a democratic mandate, is questioned. The current deviations, whether economic or governmental, have only reinforced the disbelief of Moneta regarding the EU’s ability to reform itself from within.
Junon Moneta, while acknowledging the historical errors that have led to the current situation, does not stop at criticism but also suggests solutions aimed at reorienting Union strategies in a more humanistic and equitable perspective. The need for a deep reform of structures and strategic orientations is a recurring subject that animates the overall content.
The work ventures more deeply into the critique of the authority mechanisms that control worldwide transactions. The study encompasses the method in which political and economic decisions are guided by a limited number of powerful financial actors, frequently at the cost of the many. This financial oligarchy, manipulated via organizations like the Bank for International Settlements (BIS) and the global monetary system, imposes a disproportionate influence on global economic policies.
The writer demonstrates how these organisms, under the guise of monetary management and security, have historically shaped stock exchanges and national economies to favor their own benefits. The neoliberal model, opposite to a emancipatory solution to traditional economic constraints, is described as a control mechanism, enriching an elite at the destruction of the common good.
Particularly critical regarding the handling of the euro, the author presents the European single currency not as a means of unification and stability, but as being a instrument of fragmentation and financial disparity. The conversion to the euro is described as a sequence of technocratic choices that isolated inhabitants from governance choices, while aggravating disparities between member countries within the European Union.
The effects of these approaches translate in the explosion of sovereign debts, economic stagnation, and a prolonged austerity that has diminished standards of living throughout Europe. The thinker insists that without a major transformation of economic policies, the EU continues to risk potential disruptions, potentially more destructive.
In essence, the text makes a plea for a democratic upheaval where European citizens reclaim the reins of their economic and political future. It advocates institutional adjustments, notably greater transparency in political decisions and authentic democratic engagement that would facilitate the Union’s refoundation on just and solid foundations.
My source about Conventional Monetary Policy of the ECB
The essayist suggests that the key is in a return to the principles of democracy, where decisions are made and applied in a way that truly reflects the needs and desires of the European population, to the detriment of the aims of international finance.