The Right Side of History with Tyler Cowen

Quick Overview

The discussion concludes that Donald Trump's 'Trumpism' is a form of globalism, not isolationism, despite his rhetoric against institutions like Davos, while the recent aggressive enforcement actions by ICE in Minnesota backfired politically by shifting public opinion against tough immigration policies, forcing Trump to walk back the aggressive stance.

Key Points: Tyler Cowen argues that Donald Trump is 'fairly globalist' due to his global business empire and obsession with the US and China ruling the world, making his position compatible with Neil Ferguson's observation of Trump dominating global elites. The globalists at Davos view Trump as their sworn enemy, hating his contempt for institutions like the Paris climate accord and his desire to tear up the 'liberal international order,' but high tariffs have only caused a 'slight reconfiguration' of trading networks, not ended globalization. Cowen suggests that European leaders engage with Trump as a villain to legitimize their weak governments, citing Mark Carney's speech as an example where the US commitment guarantees Canada's safety regardless of rhetoric. HR McMaster argues that Trump is 'calling the Europeans bluff' regarding strategic autonomy, forcing them to realize they must increase defense spending because the transatlantic alliance risks vanishing, noting Biden's tenure was worse for relations than Trump's in some aspects. The aggressive ICE enforcement strategy in Minneapolis, intended to expose a nexus between the Democratic Party and the 'immigration political economy,' backfired, with two shootings leading to two-thirds of voters saying the first death was unjustified and 46% of voters saying ICE should be abolished. Cowen diagnoses the current ideological landscape as a 'great stagnation in ideology,' where the left resorts to democratic socialism and the right to nationalist crony capitalism, reflecting ideas from a century ago. The panelists agree that AI will displace many high-paid workers in professions like law and consulting, leading those displaced individuals—likely those with useless college degrees—to 'hate that' they will not automatically be 'masters of the universe,' even if real wages rise overall.