We now have the first post-neoliberal administration in power in Washington. The Biden administration has explicitly disavowed all aspects of neoliberalism, including the assumptions about free trade and the alleged efficiency of outsourcing, the lack of support for trade unions, and the bipartisan contempt for industrial policy … Biden managed to get through Congress the most expansive technology and industrial policies since World War II.²

We live, as some have suggested, in an interregnum between a dying regime and some unknown successor.

Kafka’s unfinished final novel, The Castle, can be read as a parable about the misrecognition of power.

The apparition of a general trade war stalks the global economic order. In the United States, it recently manifested itself in the debate over the issue of sanctions leveled against Chinese companies. Bernie Sanders, the unofficial standard bearer of neo-social democracy in the U.S., excoriated the Trump administration for walking back on sanctions against the telecommunications firm ZTE.

Over the past few years, financial power has become a political black hole, collapsing ideological space into itself. Common ideas on the left, right, and center trace confused and overlapping trajectories as they spiral towards it.