The Western Capitalist Countries and the World’s Economic System Since the End of the Cold War

This book examines the profound transformations in the global economic system, focusing on the rise of neoliberalism, the spread of capitalism, the financial crises, and the emergence of populist movements. Beginning with the post-Cold War era, it traces the widespread adoption of market-oriented reforms, as advocated by institutions like the IMF and World Bank, which reshaped economies in the Global South and Eastern Europe. However, these changes were accompanied by growing inequality, deindustrialization, and environmental degradation, leading to the financial crises of the 2000s and the growing backlash against globalization. The financial meltdown of 2008 revealed the contradictions within the neoliberal model, highlighting the risks of deregulated markets and deepening economic divisions. This backlash fueled the rise of populist leaders who challenged the global economic order, often advocating for nationalism, anti-elitism, and skepticism towards global institutions. The text explores how populism reshaped political landscapes in the Global North and South, emphasizing the widening gap between the elite and the working class and critiquing the uneven distribution of the benefits of globalization. The conclusion reflects on the implications of these movements for the future of global capitalism and governance, suggesting that the rise of populism signals a shift towards a more fragmented, protectionist, and nationalistic world.