In the three decades since the end of the Cold War, economics has enjoyed a kind of intellectual hegemony. It has become first among equals in the social sciences and has dominated most policy agendas as well. Economists have been much sought after by businesses, governments, and society at large, their insights seen as useful in every sphere of life…That hegemony is now over.
It feels like déjà vu all over again. Reports of an Indian arms deal with Russia. Concerns in the United States about said deal, with threats about punitive measures and warnings about implications for U.S.-India relations. Voices in India insisting that the government go through with the deal and not succumb to American pressure. This is not a Cold War story, but, rather, a summary of the state of play over the last few months.
Television grab of the meeting in Helsinki between U.S. President Donald Trump and his Russian counterpart Vladimir Putin.
US President Donald Trump has defended Russia over claims of interference in the 2016 presidential election. After a meeting with Russian President Vladimir Putin, Trump contradicted US intelligence agencies and said there had been no reason for Russia to meddle in the vote. Putin reiterated that Russia had never interfered in US affairs.
Also Read – Trump-Putin Summit: US Seeks Better Ties With Russia
For the first time since the Cold War ended, air-raid sirens sounded in Hawaii on November 28, 2017. The exercise was part of the revival of the state’s emergency warning system in response to the possible threat of North Korean nuclear missile attack. But the wail of the siren could also symbolize the coming of Cold War II.
Howard’s trip to Havana in the winter of 1964 was pivotal in advancing one of the most unusual and consequential partnerships in the history of U.S.-Cuban relations. She became Castro’s leading American confidant, as well as his covert interlocutor with the White House—the key link in a top-secret back channel she singlehandedly established between Washington and Havana to explore the possibility of rapprochement in the aftermath of the Cuban missile crisis.
For about four years now, since Russia’s occupation of Crimea and China’s launch of the Belt and Road Initiative, there has been much speculation about whether another Cold War between East and West is coming. In the last month alone, headlines have proclaimed that “The New Cold War Is Here,” heralded “Putin’s New Cold War,” and warned that “Trump Is Preparing for a New Cold War.” But are we really returning to the past? Contemporary politics is full of false analogies, and the return of the Cold War seems to be one of them.
Friedman had discovered in human capital theory more than just a means for boosting economic growth. The very way it conceptualised human beings was an ideological weapon too, especially when it came to counteracting the labour-centric discourse of communism, both outside and inside the US.
Today, a quarter-century after the Cold War’s end, the West and Russia are again at odds. This time, though, at least on one side, the dispute is more transparently about geopolitical power, not ideology.
This year marks the 25th anniversary of Francis Fukuyama’s The End of History and the Last Man (1992). Rarely read but often denigrated, it might be the most maligned, unfairly dismissed and misunderstood book of the post-war era. Which is unfortunate for at least one reason: Fukuyama might have done a better job of predicting the political turmoil that engulfed Western democracies in 2016 – from Brexit, to Trump, to the Italian Referendum – than anybody else.
