Where has all the volatility gone? Why has the market become so stable for so long? It's all such a mystery...


Let's get this straight: Volatile markets are not bad for all. The question to ask, then, is: Who thrives in a volatile market? Once this is determined, you can ask: What kind of politics do they represent? It is known for sure that economic growth during capitalism's Keynesian golden age, 1947 to 1973, was very stable. It is only during the neoliberal moment, 1973 to 2008, do markets become highly unstable and prone to crashes. Yet, economic performance under the market orthodoxy of neoliberalism was actually less impressive than under the golden, social democratic moment (see the connection?). With this in mind, we might be able to see what post-neoliberalism looks: It's Keynesian economic stability but sans its social benefits or democratic programs. The rich are getting Keynes and the poor neoliberalism.