Sukh's Thoughts: Oh, all the things we are going to "learn" (AGAIN), now that the benefits of hegemony, developed-world-led globalization and control over oil-producing countries is coming to an end.....



To think that this "threat" was not well understood when a shift was made towards neoliberalism (which was the pragmatic option to pursue while hegemony and developed-world-led globalization were in play). Things change as one's position as printer of the world's reserve currency comes to an end.



Wealth will be taxed, not because this money is needed to fund government spending (see MMT), but because, with the end of hegemony, it is no longer pragmatic to implement policies that ensure wealth becomes concentrated domestically (the vast majority of a country's wealth parked in the hands of its 0.1%). So, taxing this wealth back is about creating a more just, fair, and cohesive society. AFTER the end of hegemony, this is the pragmatic option to pursue.