Viewed from Washington, D.C., New York City, Silicon Valley, or Los Angeles, in 2016 everything in America seemed, if not great, then at least “fine.” America had survived the Great Recession and there was sustained, if muted, economic growth: the GDP numbers looked “fine,” the Dow Jones average looked “fine.” There was a consensus among the political class—again, of both parties—about the general contours of public policy to be pursued in the years ahead, which were more or less the same policies that had been pursued for years or even decades. That consensus championed a frictionless globalized capitalism overseen by transnational expert-led institutions. The ever-freer movement of goods, services, capital, information, jobs, and people would generate greater and greater global wealth. Read Full Article »