The recent speech by Mark Carney , titled “ Principled and pragmatic: Canada’s path ,” is best read not as an idiosyncratic policy statement but as a representative document of an intellectual tradition that has reached its limits. The speech articulates, with clarity and restraint, the worldview of late neoliberal technocracy: economically literate, institutionally cautious, normatively earnest—yet historically thin and politically incomplete. In that sense, it deserves to b

The global order is no longer organised around shared rules. It is increasingly shaped by power, bargaining, and unilateral action. Trade, finance, technology, and security are no longer coordinated through stable frameworks but are subordinated to political alignment . Recent transatlantic developments make this shift visible. Equity markets fell  sharply and government bond yields rose not because of changes in inflation or growth expectations, but because of diplomatic thr

The Rise of “Resilience” in Economic Discourse It is now commonplace to hear policymakers and markets praise the "resilience" of supply chains, of financial systems, of growth trajectories, and of investor sentiment. In its popularized form, resilience suggests strength, adaptability, and an underlying systemic vitality. What does it mean for an economy to be resilient? The global economy has shown  surprising robustness amid geopolitical shocks recently. Yet, it also warns o

For much of the twentieth century, the United States cast itself as the world’s chief of laissez-faire economics. From Bretton Woods  to...