About Making of the 21st Century

About Making of the 21st Century

This paper involves two parts. The first part examines which of the two, neoliberalism and cold war had a greater impact on making the 21st century. The second part entails the most problematic elements in 1945, 1991, and today between predictability, stability, legitimacy, and enforcement.

Part A: Question A

Neoliberalism had a more significant impact on the making of the 21st century compared to the Cold War.

The 21st century is characterized by several factors, including trade relations, economic growth, established relationships between states, and quality leadership. According to the National Intelligence Council (NIC), global trends in 2020 can be categorized into three dimensions of megatrends, game changes, and possible worlds (National Intelligence Council, 2020). Presently, the world is concerned with individual empowerment, which is aimed at addressing the rising cases of poverty and the middle class. Also, educational attainment and new communication technologies are among the key trends in the 21st century. Further, the world is concerned with the diffusion of power, demographic patterns, and water, energy, and food nexus. The global population has also increased, which informs the strategies to address the rising concerns. The game changes in the 21st century are crises in the global economy, governance gap, increased conflict, and regional instability. The role of the United States in establishing an international system is also a significant concern.

The issues mentioned above are influenced more by neoliberalism compared to the Cold War. Neoliberalism is concerned with competition as the defining factor of human relations. The citizens are the consumers, whose democracy is based on selling and buying of commodities. Other aspects, including the trade unions and organization of labor, are based on limiting the hierarchies of losers and winners. The 21st century is not centered more on global power, which is associated with the cold war. Rather contemporary society focuses on ensuring equality in accessing services, education, and eradicating poverty. The Cold War that commenced in 1946 involved various regions, including Iran, China, France, Germany, and Turkey. The setting involved rapid demobilization of the US and the communist movements in Asia. Also, the security dilemma and mistrust were the foundation of the Cold War, rather than economics. Besides, the Cold War was influenced by power struggles in the world.

Neoliberalism, as a policy model, is concerned with bridging economics, politics, and social dimensions. The approach shifts towards capitalism and free-market from public ownership, government spending, and regulation. The 21st century is based on applying the economic models and describes the minimal interference by the government to financial issues. Laissez-Faire Economics ensure economic growth, which will promote human progress. Also, the confidence in free markets emphasizes the limited interference by the state. Notably, the 19th century marked a significant step towards liberty against the excess power by the state. According to Milanovic (2020), capitalism still influences the current economic and political stability. In politics, democratic politics involved transitioning to fundamental rights and universal suffrage through establishing a limited government. Today, the world order is aimed at eliminating the impediments to liberty, including inequality, ignorance, discrimination, diseases, and poverty.

The Cold War was also characterized by various challenges, including the gross domestic product, limited finance, and continued adherence to the ideologies. Besides, aspects such as capitalism and communism division did not appear during the Cold War. Instead of influencing the current democracy, economic growth, and social relationships, the Cold War resulted in financial liabilities to the US and Russia. Neoliberalism, on the other hand, involved globalization and modernization, which influenced economic growth and development. Globalization, for instance, has allowed removal of trade barriers and promoting foreign direct investment (FDIs). Aspects, such as information and communication technology (ICT), have been influenced by globalization and modernization, which has introduced innovative ideas to the world. Presently, conflicts, which are influenced by differences in the society, are influenced by globalization. The history of issues such as racism, poverty, and the development of a nation can be traced to neoliberalism rather than the Cold War.

Neoliberalism is the foundation of search for growth and addressing global issues. According to Banerjee and Duflo (2020), economists are currently engaged in studying about poverty and development. Among the central ideas is how to distribute and control the spread of resources for more productivity. The search for growth, on the other hand, involves policy development. In the late 20th century, particularly the 1980s and 1990s, economists spend more time establishing the growth regressions and analysis that would promote the growth rate. Although the Cold War was essential in shaping history and the current progress in the world, the level of impacts cannot be compared to those of neoliberalism. The innovation and technology application in the modernization and globalization are aimed at obtaining sufficient data regarding investments, corruption, culture, and education. Besides, the vast information provides insights on factors that promote or hurt growth.

Presently, the application of different economic models in states and regions reflects on the importance of neoliberalism rather than the Cold War. It is through neoliberalism that developing nations can understand which countries to enumerate. For instance, China is a market economy, and the nation’s approach towards capitalism differs significantly from the Anglo-Saxon model, which is described by a few regulations and low taxes. In a country like China, the state at both the local and national level plays a vital role in allocating resources, including capital, land, and labor. The purpose of industrial policies is reflected in countries, such as South Korea, Taiwan, and Japan, whose economies have deviated from the capitalist model. Another essential factor to consider is that the developing nations, including the African continent, are vital players in the 21st century. To these states, neoliberalism is critical compared to the Cold War in shaping their strategies and relationships with other countries.

Part 2. Question A

Stability in the world order remains the most problematic element, which is described by conflict among nations, failure to achieve the development goals, and slow development of developing countries.

Presently, the world is facing a pandemic of Coronavirus, and despite the race to find a vaccine, the global economy remains significantly affected. Challenges further describe global instability to neoliberalism, including leadership, eradication of poverty, and climate change. Political tensions between states such as the Middle East continue to impair the peace and growth of these nations and the region. Aspects such as healthcare differ based on socio-economic status. In the United States, for instance, Obama Care, which was developed to ensure universal health coverage, is yet to be achieved due to debates from the insurers, among other opposers. The current pandemic threatens global stability, with the impacts being felt in the economic and political relationships. The education sector is also affected, as reflected in the closure of schools across the globe.

Instability was also manifested in 1945 liberalism. Besides the start of the cold war that threatened the relationship between nations and economic growth, democracy was also affected. The 20th century marks the period where the majority of countries were colonized. Between 1945 and 1990, most of the African countries gained their independence after the war with the colonies. The period is also described by the fight for democracy in the US. Human rights, including voting and ownership for non-citizens, were also achieved during this period. These elements demonstrate the role of stability in global performance. Liberalism in 1945 involved fair, free, and regular elections. Rights, such as press, speech, and assembly, were also achieved during this period. For the mature democracy and those characterized by justice, they have the rule of law, equality in the division of power among the government branches, tolerance, and civil liberties.

Before 1945, the majority of states were not democratic, and the capitalist was not viewed as legitimate by the socialists. The struggle demonstrates stability as a significant issue for power and world order. The inequality among states is the foundation for war. Also, most nations have focused on achieving autonomy in various aspects. Countries such as North Korea and Russia have hinted nuclear testing. The US, on the other hand, continues to prohibit these activities to promote stability. Instability has also been demonstrated by the war on natural resources, including oil, as shown in the Middle East. The elimination of global leaders, including Muammar Gaddafi, resulted in instability in Libya. The Killing of one of Iran’s leaders, Qassem Soleimani, and the aftermath, which included protests and Iran vowing to revenge further shows the role of stability in the world order.

The stability in economics and markets in 1945 further shows the importance of the aspect in the world order. Aspects such as private ownership and capitalism illustrate the importance of ensuring stability. The international economic trilemma was essential in 1945. The Bretton Woods System that lasted from 1945 to about 1971 was characterized by the fixed exchange rates that were centered on the US dollar. Also, the central objective was to address economic issues through domestic monetary autonomy. 1945 also marks a significant period where the global economic order has been evolving since the period. 1945 is also a crucial period since it marks the end of the second world war. The world was, therefore, concerned with maintaining stability. Due to the war, leading players in global politics were either weakened or defeated. Countries such as Japan suffered destruction and loss of lives. They were, therefore, concerned with restoring economic and political stability.

The 1991 world order was also concerned with achieving global stability despite challenges such as the Persian Gulf crisis. The threats of terror, the pursuit of justice, and the push for peace reflected on the global concern to achieve stability and ensure that the people lived in harmony. The rising technologies during the period, including nuclear weapons and communications, were also centered on establishing peace. With leaders, such as Saddam Hussein threatening the stability of the world, the US had to intervene for elimination. Other aspects that threatened the world’s stability included the control of oil reserves. 1991 also marked the economic expansion of the world. Stability as the main concern was reflected in ensuring the employment of more people and eliminating other challenges such as poverty.

During the three periods of 1945, 1991, and present, stability remains the main problematic element of the world order. According to Huntington (2000), the return of rivalries among nations due to globalism and tribalism demonstrates the challenge of ensuring stability in the 21st century. Also, cultural and economic aspects are likely to increase conflicts among nations. The battles are also likely to occur between countries of different civilizations. Policymakers are, therefore, concerned with ensuring stability across the social, environmental, and economic dimensions. Presently, global objectives, including eliminating poverty, are impaired by social differences. As noted by Goodman and Bubola (2019), the world is still affected by a few elites that want to maintain high poverty levels. Other aspects, including competition, are the foundations of instability globally. The adoption of suitable systems and economic models are also aimed at addressing complex global challenges. Although globalization and modernization are central in growth and development, they also present as risk factors to global stability, such as war.

References

Banerjee, A.V. and Duflo, E., 2020. How Poverty Ends: The Many Paths to Progress-And Why They Might Not Continue. Foreign Aff., 99, p.22.

Goodman, S. P. and Bubola, E., 2019. The Chinese roots of Italy’s far-right rage. The New York Times.

Huntington, S.P., 2000. The clash of civilizations? In Culture and politics (pp. 99-118). Palgrave Macmillan, New York.

National Intelligence Council, 2012. Global trends, 2030: Alternative Worlds.

Milanovic, B., 2020. The Clash of Capitalisms: The Real Fight for the Global Economy’s Future. Foreign Aff., 99, p.10.