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4 - Nationalism and Social Cohesion

Published online by Cambridge University Press:  25 August 2021

John L. Campbell
Affiliation:
Dartmouth College
John A. Hall
Affiliation:
McGill University, Montréal
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Summary

Let us recall three events that challenged the political status quo in the early part of this century. The first took place in 2000, when Danes were asked in a national referendum whether they wished to join the European Monetary Union, abandoning Denmark’s national currency, the krone, for the euro. Every element of the political elite – both left and right – as well as most intellectuals and the media were in favor of a “yes” vote. But the vote failed, beaten by a vote of “no” most common among less-educated Danish men living outside metropolitan Copenhagen. This was a harbinger of things to come. The second event saw protestors commandeer Zuccotti Park in lower Manhattan’s financial district on a crisp fall day in 2011, setting up a makeshift tent city to protest economic inequality in the United States.

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Chapter
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What Capitalism Needs
Forgotten Lessons of Great Economists
, pp. 108 - 150
Publisher: Cambridge University Press
Print publication year: 2021

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