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End of 'The End of History'

46 1
16.07.2025

Year 2025 has seen immense turbulence. Since Donald Trump's formal inauguration as President of the United States, 60% of international development funds have been slashed, immigration controls in the West have multiplied exponentially, trade barriers have gone up, AI has wiped out hundreds of thousands of jobs, the Palestinian genocide has entered its final phase, and conflicts involving nuclear powers have intensified. In the words of Antonio Gramsci, "The old world is dying, and the new world struggles to be born: now is the time of monsters."

Following the end of WWII, America experienced 25 years of relatively inclusive growth. Real wages - adjusted for inflation - for both white and blue collar trades rose consistently until 1970. Technological breakthroughs were frequent and significant. The digital computer, data storage devices, microchip technology, and packet-switched networks, which served as precursors to the internet, all entered the fray during the '50s and '60s. In aviation, the sound barrier was broken, the first satellites went into orbit, and rockets landed on the moon. In biomedicine, the DNA structure was mapped, the polio vaccine discovered, and oral contraceptives approved. In media, portable radios and colour TVs were made ubiquitous. Perhaps most significantly, basic amenities like food, clothing, shelter, education, and healthcare were easily affordable for single-earner middle class families.

Simultaneously, a comprehensive international development architecture was set up. At the Bretton Woods Conference in 1944, the World Bank and IMF were formally established to foster macroeconomic stability in 'developing' countries - particularly following decolonisation - via policy formulation, short term credit agreements, and........

© The Express Tribune