The West's moral and political crisis

The West is in the grip of a moral panic with unforeseeable political consequences. After four decades of neoliberalism, cracks are beginning to appear in the form of nationalist challenges from the right and a youthful insurrection from the left, both frequently described as ‘populist’ by establishment figures. The Faustian compact made with finance capital by the traditional parties of the centre‐left in the 1990s now leaves them on the verge of extinction. The underlying conditions for this disarray are a massive demographic shift at the global level which will see Asians and Africans with over four‐fifths of the world's population in 2100. This editorial briefly reviews the Cold War and the transformations that have occurred since. A world revolution after 1945 was overthrown by a counter‐revolution in 1979–1980 which is itself under threat now. The American Empire is sustained by mercantilism, militarism, the world currency, intellectual property and the Internet economy. Free markets are just an ideological fig leaf for this. The editorial concludes with a review of recent political events in the US, France and Britain: Trump's presidency, Macron's improbable rise and Corbyn's surge in May's snap election. In Britain's case, the terrorist attacks, hung parliament and Grenfell Tower fire constitute a perfect storm that could sink the British political right.