Wiping the slate clean

Finding answers was always hard but it’s now in a different league of difficulty.

I began this blog a few years back wanting to write about how we could make liberal democracy function better. Now the issue is how liberal democracy can survive in the face of China, illiberal democracies in Hungary and Turkey, the Republican right in the USA, and, just recently, the ideas promoted by the recent National Conservatism Conference here in the UK.

The issue for many is a sense of lost power. Ideas of ‘nation’ muddled with social conservatism, as if this could be the way we Brits might claw back lost influence. Language and the Premier League mislead us.

Many on the other side of the spectrum would like to renounce power altogether, renounce capitalism, renounce politics, head for utopia.

What if we could go back in time. Start again. Wipe the slate clean.

Gillian Tett, writing in the Financial Times, refers to what she describes as ‘the ancient Mesopotamian idea of a wiping the slate clean’ – a wiping out of debts to allow a society to reboot. McKinsey estimates it would ‘wipe out $48trn of household wealth in the coming years’. That I assume is just the USA.

That takes me to another theme, growth, or the absence of it, the post-growth advocates and as the Economist describes them, ‘the actual de-growers’. We stop caring about growth targets and GDP. Or we go further and actively ‘shrink the pie’.

Only, it won’t happen, can’t happen. For one we’d have to rein in population growth. And if we take that too far we’ll have a massively reduced younger generation to fund the lifestyles of a vastly increasing older generation. The answer – we voluntarily cut back on our lifestyles. Which isn’t going to happen. More likely, the world economy would implode.

Tett quotes a biologist Peter Turchin, ‘a biologist and complexity scientist who employs Big Data to study ecosystems’. Studying reams of data over thousands of years he identifies a fundamental pattern whereby an elite grabs power and ‘tries to protect itself by grabbing more and more resources’. This leaves poor people even poorer and an ’over-production of the elite’. It’s a recipe for a social explosion. Is this what we’re currently seeing in the USA?

Tett suggests the only way ‘to shift this trajectory is to re-play the New Deal policies of the 1930s and the immediate post-war years in the USA, using redistribution to reduce inequality’. She’s not saying that Turchin is right, but that the symptoms he describes are indeed deep-rooted in modern American society.

There are many other parts to this jigsaw. Climate change, generative AI, China, Ukraine. Regarding China it’s been interesting to listen to what Henry Kissinger, who recently celebrated his 100th birthday, has to say. Lowering the temperature is key, contrary to what the new breed of American hawks, and a good few British, are arguing. That requires building confidence step by step. Establishing and maintaining a conversation, however deep the divide.

There is in all this one constant – our liberal democracy. Hold to that and we can still find answers.

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