In 1930, the great economist John Maynard Keynes delivered a speech he called “Economic Possibilities for Our Grandchildren.” Keynes concluded economic problems were not humanity’s most “permanent problem,” but instead speculated that once our economic problems were solved, the real difficulty would be “how to use..freedom from pressing economic cares…to live wisely and agreeably and well.” (p. 519-520)
J. Bradford Delong’s Slouching Toward Utopia: An Economic History of the Twentieth Century (2022) captures the turbulence of the past century with its World Wars and seemingly unceasing violence. Delong starts with 1870 as the point where industrialization and technology began to transform economies. One of the main reasons for the massive changes was ideology.
“Macbeth’s self-justifications were feeble. …Iago was a little lamb… The imagination and spiritual strength of Shakespeare’s evildoers stopped short at a dozen corpses. Because they had no ideology. Ideology–that is what gives evildoing its long-sought justification and gives the evildoer the necessary steadfastness and determination. That is the social theory which helps to make his acts seem good instead of bad in his own and others’ eyes, so that he won’t hear reproaches and curses but will receive praise and honors. …Thanks to ideology, the twentieth century was fated to experience evildoing on a scale calculated in the millions. This can’t be denied, not passed over, nor suppressed. ” (p. 259)
Stalin murdered over 50 million Russians during his time in power. Hitler’s death count also numbers in the millions. Stalin and the communists offered a Marxist vision of Utopia. Hitler promised a “Thousand-Year Reich” with Germany ruling the world. Economics played key role in both horrors.
Right now, the world is dealing with rampant Inflation and energy shortages. The Pandemic caused much of the Inflation and the Ukraine War caused much of the energy problems. Both persist so we can expect Inflation and high energy prices to continue. How are you dealing with Inflation? Our gas prices are $3.65, but are expected to go up as the Saudis cut their oil production by 2 million barrels per day. Are you driving more or less? GRADE: A
TABLE OF CONTENTS:
Introduction: My Grand Narrative 1
1 Globalizing the World 27
2 Revving Up the Engine of Technology-Driven Growth 59
3 Democratizing the Global North 85
4 Global Empires 115
5 World War I 141
6 Roaring Twenties 165
7 The Great Depression 205
8 Really-Existing Socialism 235
9 Fascism and Nazism 259
10 World War II 283
11 The Cold War of Hostile Yet Coexisting Systems 311
12 False (and True) Starts to Economic Development in the Global South 339
13 Inclusion 373
14 Thirty Glorious Years of Social Democracy 395
15 The Neoliberal Turn 427
16 Reglobalizatlon, Information Technology, and Hyperglobalization 461
17 Great Recession and Anemic Recovery 485
Conclusion: Are We Still Slouching Towards Utopia? 519
Acknowledgments 537
Notes 539
Index 579
