See also specific countries
Declaration of Independence (US), 94
declinism, 152, 155
democracy
and Agreements of the People, 13
decline and crisis, 12, 106, 109
emergence and spread, 3, 4, 107
inspiration in Levellers, 4, 93, 94, 95
and intangible infrastructure, 161
old order breakdown, 5, 7
and political dislocation, 52–53
vs. republic, 278
small-sized nations, 260
Democracy Index, 106, 260
Democratic Party (US), 35, 36
demographics, and economic growth, 147–148
dental care, inequalities, 45
Detroit, 163–164
development economics, 70
Diggers Party (fictional), 121–122
dollar (US), 154, 155, 226, 267
Dornbusch, Rudiger, 67
Downing, Kate, 44
Draghi, Mario, 128, 170, 174, 176, 180, 283
Drezner, Dan, 74
Duggan, Mike, 164
Durkheim, Émile, 147
Duverger, Maurice, 115
Duverger’s Law, 115
Eastasia, as pole in multipolar world, 225, 226–230
Ebola crisis, 27
ECB (European Central Bank), 177, 195, 268, 286
economic growth
as challenge and problem, 14–15, 24–25, 148
cycle and current end of cycle, 136–138
financialized growth, 137–138
lack in current cycle, 141–142
long-term factors, 147–148
and next levelling, 76–77, 305
organic growth, 141–142
as promise by politicians, 155–156
solutions, 14–15, 149–151, 165
Economic Policy Institute, 40
economics and world economy
change and crises, 66, 104, 105–106
Colbertian approach, 227
conformist views and groupthink, 69–70, 177
cycle and cycle in business, 136–140, 142
eastward shift, 212
expansion in, 139–141, 142
flow-based view, 283–284
forecasting and long-term trends, 66–71, 76, 192
forecasting and next levelling, 76–79, 304–305
and institutions, 161–162
and intangible infrastructure, 159–160, 161–162
interconnections worldwide, 8–9
investment, 145–147
jargon, 134–135
Levellers as model, 96, 97
levelling, 76–79, 212–213, 304–305
next recession and crisis, 66, 76, 185–186, 192–193, 198, 291
old order breakdown, 4–5, 11, 24, 304
“out of control” world, 24
and politics, 51–52, 105–106
and productivity, 141, 142–144
profit margins, 31–32
rent economy, 142
and rule of law, 161–162
small-sized nations, 260–261
state involvement, 227–228
technology in, 214
transition to multipolar world, 185, 218
unipolarity, 218
US influence and power, 226, 267
See also specific countries and regions
Economist, 106, 260
education, 15–16, 44, 45, 46, 160
Eichengreen, Barry, 154–155
elections and voters
accountability, 78
discontent, 12
estrangement from politics, 108–109
involvement, 306
loyalty and allegiances, 111–112
political dislocation, 52–54
radical and right-wing parties, 55
and religion, 90
self-identification in US, 52
voter turnout, 54
Elizabeth II (Queen), 68
email accounts, 49
emerging countries
condescension from West, 257
debt, 186, 187
inequality and globalization, 38, 41
new political parties, 115–116
wealth and expectations, 25, 39, 116
English Civil War, 3, 81–82
English history
Constitution, 82
First Civil War and post–Civil War, 81–82, 92
Putney Debates, 3–4, 12, 82, 84–85, 91
See also Levellers
equality, 85, 86, 87, 96
equity valuations in US, 65
Erdoğan, Recep Tayyip, 101, 154
Eritrea, 281
ETFs, 67
EU Treasury, 283, 285–288
Eubanks, Virginia, 46
Eugénie, Empress, 227
Eurasia, as pole in multipolar world, 225, 233–237
Europe
constitutional reform for multipolar world, 280–283
debt and restructuring, 188, 194–197
education, 15–16
financial reform for multipolar world, 283–288
Hanseatic League 2.0, 245, 260–261
media, 107
national governments and fiscal rules, 284–285
new political parties, 54–55, 110–111
as pole in multipolar world, 279, 280–288
political dislocation and pessimism, 52–54
politics, 107, 108, 109
QE and markets, 181–183
right-wing parties, 54–55
soft power, 219–220
voter turnout, 54
European Central Bank (ECB), 177, 195, 268, 286
European Commission, 236, 284–285
European Union (EU)
commonalities and identity, 281–283
constitution, 280–282
debt restructure, 195
description and aims, 233, 235
foreign policy, 236
immigration, 233–234, 237
as independent entity, 235–236
members and membership, 237, 278
pessimism in, 53–54
as pole in multipolar world, 221, 222–223, 233–237
problems, 233–235, 236, 237–238
setting up of businesses, 287–288
taxation, 286
treasury, 283
eurozone
crisis and euro crisis, 104, 182, 234, 265
debt, 188, 195, 196
economic mechanisms and policy, 284–285
membership, 237, 278
stabilization levy, 286–287
exceptionalism, 247
Federal Reserve System (the Fed)
establishment, 172
and financial crisis of 2008, 69, 175
and QE, 175, 176–177, 183
role in multipolar world, 267, 268
Federalist Papers, 278
finance
crises in history, 172
and globalization, 267–268
knowledge, 167
macroprudential policy, 285
reform for multipolar world, 283–288
risk (see risks (financial))
See also economics and world economy
financial crisis of 2008
as bubble, 173
central banks, 173–174, 175, 179
and change, 105
description and parallels, 64, 65–66
financialized growth, 137–138, 146
forecast and signs, 68–69, 71, 173
Greenspan approach, 171
financial markets
bubbles, 172, 173–174
and first globalization, 60–62
and governance, 203–204
origin and spread, 226
and QE, 181–183
rise and fall of nations, 153
financialized growth, 137–138, 146
Findlay, Ronald, 59–60
first wave globalization (1870–1913), 57, 58, 59–64
Firth, Charles, 85
Flake, Jeff, 126
food and calories, 48
foreign direct investment (FDI), 62
France, 117, 227
Franklin, Benjamin, 277
Freedman, Lawrence, 67
freedom and liberty, 85, 168, 169
freshwater, 48–49
Fukuyama, Francis, 162
future outlook
Agreements as model, 13–14
challenges, 12, 14–15, 16–17, 18
economic forecasting, 66–70
history as reference, 2, 11, 57, 65
levelling as solution to challenges, 12–16, 17–18, 19–21, 117
warning and scenarios from trends, 6–7, 10–12
G7, and trade, 24
g20 countries concept, 261
Galbraith, John Kenneth, 66
Galka, Max, 217
Galvin, Alyse, 129
GDP, and rule of law, 161–162
General Data Protection Regulation (GDPR) initiative, 273
genetics and gene editing, 297–298
geopolitics
and currency, 155
future dominance model, 18–19
hard vs. soft power, 219–220
next levelling, 77, 243, 303–304
old order breakdown, 5–6
as problem, 18
respect in, 256, 257
trends in future, 243
See also poles in multipolar world
Germany, 118, 191–192
Gibbon, Edward, 152
Gilbert, Dan, 164
Gini coefficient, 38
Giscard d’Estaing, Valéry, 154
Glass-Steagall Act (1933), 214
Global Britain, 246, 249–251
globalization
and business cycle, 139
China, 216
criticisms and attacks, 28–29, 38
definition, 7, 59
in finance, 267–268
first wave (1870–1913), 58, 59–64
governance and institutions, 62–64
and inequality, 37–41, 44–47
and investment, 146–147
as only way forward, 7
origins, 225–226, 241
parallels with first wave, 57, 61–62, 64–65
positions on, 36–37
as positive force, 28, 29, 30, 38–39, 41, 139, 241–242
preservation of, 213–214, 215
problems with, 25, 26–28
replacement and transition, 8, 9, 36, 57, 185, 215, 242, 261, 304
retreat, 28, 30–32, 51, 55–56, 57, 63–64, 106, 136–138, 213–215, 238–239, 304
side effects, 28, 34–37, 55–56
small-sized nations, 261
and technology, 213–214
and trade, 30, 31, 32–33
transition to multipolar world, 238–239
trilemma, 237–238
warning from trends, 11, 30
wealth inequality, 41–44
Good-Bye to All That (Graves), 29–30
Goodhart, David, 79–80
Gordon, Robert, 141–142
governance
bubble in, 204
corporate governance, 203–205
and financial markets, 203–204
and globalization, 62–64
Levellers vs. Leviathan concept, 168–169
sortition, 109–110
Governance Party (fictional), 123–124
Grandees
in First Civil War, 81–82
vs. Levellers, 82–83, 91, 93
Graves, Robert, 29
Great Depression, 64, 65
greatness of countries and empires, 153, 157
Greece, 15–16, 109, 278
Greenspan, Alan, and approach, 170–171, 174
Hacker, Jim (character), 133
Haldane, Andy, 145
Hamilton, Alexander
deeds in US, 280, 281, 283, 284, 286, 295
impact on US history, 277–278, 279
as shorthand for levelling, 20, 279, 302
and US Constitution, 281
Hanseatic League 2.0, 245, 260–261
happiness, 156
hard vs. soft power, 219–220, 223–224
Hart, Robert, 256–257
Hawley, Willis, 65
health care, 44–45, 46, 48, 160
heimat, 27
Heimat Party (fictional), 120–121
Hill, Christopher, 4, 92
Hillbilly Elegy (Vance), 35–36
history, as reference for future, 2, 11, 57, 65
Hobbes, Thomas, 124, 168
Hoover, Herbert, and government, 64–65
Hopkirk, Peter, 18
household debt, 186–187
housing affordability, 44
housing sector crisis, 138, 173
ideas
and change, 104
dissemination and mixing, 74
establishment and process, 71–72, 73–74
lack of productivity, 142–143
and levelling, 76
new ideas in politics, 110–111, 116
If Crisis or War Comes, 6
IMF (International Monetary Fund), 264–266
immigration, 50, 217, 233–234, 237
income, 38, 40–41
India, 217, 220, 244, 257–258
inequality
causes, 37
developed vs. emerging countries, 38
in education and health, 44–45, 46, 48
and globalization, 37–41, 44–47
in income, 38, 40–41
as issue, 10
measurement, 38
social aspects, 46–48
in US, 40, 41, 43–47, 299–300
in wealth (see wealth inequality)
infrastructure programs, 149–151
innovation. See ideas
institutions (international)
and climate change, 270
decline in influence, 244, 262–265, 304
and economy, 161–162
future in multipolar world, 262, 265–266, 304
institutional quality, 152, 153
Levellers as model, 96
power, 62–64
intangible infrastructure
description and factors, 15, 159, 162, 305
economy and economic growth, 159–160, 161–162
and national development, 160–161, 164–165
policy, 266
as solution to breakdown, 305
international relations. See geopolitics
internet, 264, 272–276
Investigation of a Citizen Above Suspicion (movie), 68–69
Iraq, 118
Ireland, 110, 157–158, 251–252, 254–256, 285
Italy, 47, 181–182, 194–197
Japan
birthrates, 51
corporate reform, 204
debt and debt restructuring, 188–189, 193, 202–203
postwar transition, 118
QE, 177
Jefferson, Thomas, 90
Johnson, Boris, 127
Kagan, Robert, 293
Kanter, Rosabeth Moss, 149
Kennedy, John, 107
Keynes, John Maynard, 58, 59, 66, 265
Kim, Jim Yong, 263
Kindleberger, Charles, 173, 294
Knudsen, Gunnar, 293–294
Kuestenmacher, Simon, 151
Kuhn, Thomas, 71, 73
Lafontaine, Oskar, 107
Latin America, 190–191, 220–221
law equality, 85, 86–87, 96
law reforms, 97, 98–99
Le Claire, Lesley, 84
Left-versus-Right debate, 113, 114
The Leveller Party (fictional), 120
Levellers
arguments and agreements, 3–4, 87–89, 95
in China, 232–233
description and goal, 82–84, 88, 91, 94, 95
vs. Grandees, 82–83, 91, 93
historical context, 3, 13, 81–82, 92
importance, 92
as inspiration and example, 3–4, 12–13, 82, 83, 91–92, 103
Leviathan as concept, 168–169, 240, 306
parallels with today, 7, 92–97, 100
political thought, 89–91, 94
and politicians, 85–86, 87, 95–96
and productivity, 146–147
sentiments and demands, 81–82, 85–89, 94, 95–96, 103
shortcoming, 103
women in, 83, 87
See also “Agreements of the People”
levelling
and accountability, 79
Brexit and Global Britain, 246, 247–248
in contemporary situation, 75–80
definition and description, 20, 116, 212
and economy, 76–79, 212–213, 304–305
as framework and process, 71, 72–73, 304
and multipolar world, 20, 212–213, 239–240, 243
and new ideas, 76
next levelling, 77–79, 80, 116–119, 243, 303–306
poles of multipolar world, 238, 243
political example (fictional), 119–125
and political transition, 116–119
as replacement and transition, 8, 12, 20–21, 116
as solution, 12–16, 17–18, 19–21, 117
US in, 246
Leviathan concept, 124, 168–169, 240, 306
Leviathan (Hobbes), 124, 168
Leviathan Party (fictional), 124–125
liberty and freedom, 85, 168, 169
Lilburne, John, 85, 87, 88
Lilburne, Katherine, 87
Lindsay, A. D. “Sandie,” 94
Locke, John, 85
Long Term Capital Management (LTCM) hedge fund, 206
Loughlin, Martin, 95
MacKay, Charles, 173
Macron, Emmanuel, 117
macroprudential policy, 285
“made in” labels, 219–220
Mair, Peter, 52
Manchester United football club, 27–28
Mantega, Guido, 177
manufacturing, 34–35
marriage, 49–50
Marx, Karl, 156, 228
maskirovka, 296
Massie, Thomas, 128
Maudling, Reginald, 249
Mazarin, Jules, 240
McKinsey Global Institute, 7, 38
McMullin, Evan, 128
media, and politics, 107
medium-sized nations in multipolar world, 244, 245
Mian, Atif, 176
microlevel of countries, 163–164
Middle East, 212, 263
migration, 50, 217, 233–234, 237
Milanovic, Branko, 40, 41
Miller, Rory, 158
Moltke, Helmuthe von, 227
Monnet, Jean, 194
Montesquieu, 85
Morris, Ian, 151
Morris, Robert, 208, 209
Mulford, David, 191
Müller, Jan-Werner, 101
multinationals, 31–32, 214
multipolar world
Britain and Brexit, 248–256
central banks, 266–267
characteristics, 218
debt conference, 17, 192–193
debt restructuring, 203
and economy, 185, 218
emergence, 8, 18–19
and globalization’s end, 238–239
and institutions, 262, 265–266, 304