Article Title: My Patriot Versus Yours
This interesting article named ‘Good Politics, Bad Economics’ makes the main point that advocates of liberalism find it hard to accept that populist and authoritarian governments could ever formulate sound economic policies, and they often assume that “free markets” will always provide widespread prosperity and accountability. They’re mistaken on both counts. This article explains how they are mistaken in these two points. The first point in the article is that bad economics breeds bad politics.To be sure, this explosion of political extremism cannot be explained by economic distress alone. But the correlation between bad economic events and bad politics is too striking to be ignored.
Additionally, the article explains through examples that bad politics can produce good economics, and that good politics can produce bad economics. Finally the article says that the rapid rise of extremism today should serve as a wake-up call. We must uncouple the good politics of liberalism from the bad economics of neoliberalism that produced the disaster of 2008. That means reinstating the kind of economics that prevailed from the 1940s to the 1970s and there is also a need of preserving today’s good politics.
Words to learn from this Article:
Xenophobic: having or showing a dislike of or prejudice against people from other countries. Progeny: a descendant or the descendants of a person, animal, or plant
Fascism: It is a form of radical authoritarian ultranationalism, characterized by dictatorial power, forcible suppression of opposition and strong regimentation of society
Populist: a member or adherent of a political party seeking to represent the interests of ordinary people.
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