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Stiglitz said Republicans had opposed proposals to give those affected by coronavirus 10 days’ sick leave, meaning many employees were going to work even while infected. “The Republicans said no because they said it would set a bad precedent. It is literally unbelievable.”

“If you leave it to Donald Trump and Mitch McConnell [the Republican Senate majority leader] we will have a Great Depression. If we had the right policy structure in place we could avoid it easily.”

Encouraged by Trump, some parts of the US were determined to reopen in a way that would facilitate the transmission of the disease and lead to a fresh outbreak, he added.

“In those circumstances it won’t be the government enforcing the lockdown, it will be fear. The concern is that people are not going to be spending on anything other than food and that’s the definition of a Great Depression.

“We were unprepared but, even given the degree of unpreparedness, Trump’s decision to make this about politics rather than about science has meant we have responded far more poorly.”

Stiglitz said the current crisis would force countries to make themselves less vulnerable, and this would lead to shorter supply chains and a greater emphasis on self-sufficiency in food and energy.

He added that the complexity of modern production methods meant autarky was not feasible but added: “Fighting global pandemics and climate change require global cooperation. It’s just that the president of the United States doesn’t understand that.

“I hope we emerge from this with the perspective that multilateralism is even more important than we thought. It can’t just be a corporate-driven globalisation. We have to make it more resilient.’

The very reasons that we know something about Auschwitz warp our understanding of the Holocaust: we know about Auschwitz because there were survivors, and there were survivors because Auschwitz was a labor camp as well as a death factory. These survivors were largely West European Jews, because Auschwitz is where West European Jews were usually sent. After World War II, West European Jewish survivors were free to write and publish as they liked, whereas East European Jewish survivors, if caught behind the iron curtain, could not. In the West, memoirs of the Holocaust could (although very slowly) enter into historical writing and public consciousness.

By 1943 and 1944, when most of the killing of West European Jews took place, the Holocaust was in considerable measure complete. Two thirds of the Jews who would be killed during the war were already dead by the end of 1942. The main victims, the Polish and Soviet Jews, had been killed by bullets fired over death pits or by carbon monoxide from internal combustion engines pumped into gas chambers at Treblinka, Be zec, and Sobibor in occupied Poland.

the other state that killed Europeans en masse in the middle of the century: the Soviet Union. In the entire Stalinist period, between 1928 and 1953, Soviet policies killed, in a conservative estimate, well over five million Europeans

In shorthand, then, the Holocaust was, in order: Operation Reinhardt, Shoah by bullets, Auschwitz; or Poland, the Soviet Union, the rest. Of the 5.7 million or so Jews killed, roughly 3 million were pre-war Polish citizens, and another 1 million or so pre-war Soviet citizens: taken together, 70 percent of the total. (After the Polish and Soviet Jews, the next-largest groups of Jews killed were Romanian, Hungarian, and Czechoslovak. If these people are considered, the East European character of the Holocaust becomes even clearer.)

The Final Solution, as the Nazis called it, was originally only one of the exterminatory projects to be implemented after a victorious war against the Soviet Union. Had things gone the way that Hitler, Himmler, and Göring expected, German forces would have implemented a Hunger Plan in the Soviet Union in the winter of 1941–1942. As Ukrainian and south Russian agricultural products were diverted to Germany, some 30 million people in Belarus, northern Russia, and Soviet cities were to be starved to death. The Hunger Plan was only a prelude to Generalplan Ost, the colonization plan for the western Soviet Union, which foresaw the elimination of some 50 million people.

The Germans did manage to carry out policies that bore some resemblance to these plans

The Germans killed somewhat more than ten million civilians in the major mass killing actions, about half of them Jews, about half of them non-Jews. The Jews and the non-Jews mostly came from the same part of Europe. The project to kill all Jews was substantially realized; the project to destroy Slavic populations was only very partially implemented.

German suffering under Hitler and during the war, though dreadful in scale, does not figure at the center of the history of mass killing. Even if the ethnic Germans killed during flight from the Red Army, expulsion from Poland and Czechoslovakia in 1945–1947, and the firebombings in Germany are included, the total number of German civilians killed by state power remains comparatively small

when one considers the total number of European civilians killed by totalitarian powers in the middle of the twentieth century, one should have in mind three groups of roughly equal size: Jews killed by Germans, non-Jews killed by Germans, and Soviet citizens killed by the Soviet state.

An adequate vision of the Holocaust would place Operation Reinhardt, the murder of the Polish Jews in 1942, at the center of its history. Polish Jews were the largest Jewish community in the world, Warsaw the most important Jewish city. This community was exterminated at Treblinka, Be zec, and Sobibor. Some 1.5 million Jews were killed at those three facilities, about 780,863 at Treblinka alone. Only a few dozen people survived these three death facilities. Be zec, though the third most important killing site of the Holocaust, after Auschwitz and Treblinka, is hardly known. Some 434,508 Jews perished at that death factory, and only two or three survived.

We know about the Gulag because it was a system of labor camps, but not a set of killing facilities. The Gulag held about 30 million people and shortened some three million lives. But a vast majority of those people who were sent to the camps returned alive.

the Gulag distracts us from the Soviet policies that killed people directly and purposefully, by starvation and bullets. Of the Stalinist killing policies, two were the most significant: the collectivization famines of 1930–1933 and the Great Terror of 1937–1938.

It is established beyond reasonable doubt that Stalin intentionally starved to death Soviet Ukrainians in the winter of 1932–1933. Soviet documents reveal a series of orders of October–December 1932 with evident malice and intention to kill. By the end, more than three million inhabitants of Soviet Ukraine had died.

The largest action of the Great Terror, Operation 00447, was aimed chiefly at “kulaks,” which is to say peasants who had already been oppressed during collectivization. It claimed 386,798 lives. A few national minorities, representing together less than 2 percent of the Soviet population, yielded more than a third of the fatalities of the Great Terror.

If we concentrate on Auschwitz and the Gulag, we fail to notice that over a period of twelve years, between 1933 and 1944, some 12 million victims of Nazi and Soviet mass killing policies perished in a particular region of Europe, one defined more or less by today’s Belarus, Ukraine, Poland, Lithuania, and Latvia.

mass killing happened, predominantly, in the parts of Europe between Germany and Russia, not in Germany and Russia themselves.

Soviet repressions are identified with the Gulag

During the war, many Soviet Russians were killed by the Germans, but far fewer proportionately than Belarusians and Ukrainians, not to mention Jews. Soviet civilian deaths are estimated at about 15 million. About one in twenty-five civilians in Russia was killed by the Germans during the war, as opposed to about one in ten in Ukraine (or Poland) or about one in five in Belarus.

Poland was attacked and occupied not by one but by both totalitarian states between 1939 and 1941, as Nazi Germany and the Soviet Union, then allies, exploited its territories and exterminated much of its intelligentsia at that time. Poland’s capital was the site of not one but two of the major uprisings against German power during World War II: the ghetto uprising of Warsaw Jews in 1943, after which the ghetto was leveled; and the Warsaw Uprising of the Polish Home Army in 1944, after which the rest of the city was destroyed.

By starving Soviet prisoners of war, shooting and gassing Jews, and shooting civilians in anti-partisan actions, German forces made Belarus the deadliest place in the world between 1941 and 1944. Half of the population of Soviet Belarus was either killed or forcibly displaced during World War II: nothing of the kind can be said of any other European country.

Although the history of mass killing has much to do with economic calculation, memory shuns anything that might seem to make murder appear rational. Both Nazi Germany and the Soviet Union followed a path to economic self-sufficiency, Germany wishing to balance industry with an agrarian utopia in the East, the USSR wishing to overcome its agrarian backwardness with rapid industrialization and urbanization. Both regimes were aiming for economic autarky in a large empire, in which both sought to control Eastern Europe. Both of them saw the Polish state as a historical aberration; both saw Ukraine and its rich soil as indispensable. They defined different groups as the enemies of their designs, although the German plan to kill every Jew is unmatched by any Soviet policy in the totality of its aims. What is crucial is that the ideology that legitimated mass death was also a vision of economic develop-ment. In a world of scarcity, particularly of food supplies, both regimes integrated mass murder with economic planning.

If there is a general political lesson of the history of mass killing, it is the need to be wary of what might be called privileged development: attempts by states to realize a form of economic expansion that designates victims, that motivates prosperity by mortality. The possibility cannot be excluded that the murder of one group can benefit another, or at least can be seen to do so. That is a version of politics that Europe has in fact witnessed and may witness again. The only sufficient answer is an ethical commitment to the individual, such that the individual counts in life rather than in death, and schemes of this sort become unthinkable.

Since the days of Deng, the mantra of Beijing’s top policy makers had been “reform and opening up,” which stressed integration with the global economy. Xi, however, wants to limit that integration, or at least engage with the wider world on different terms

Perhaps he thinks that a heftier role for the state could help firm his hold over party and government. “He wanted more control, and he thought having a big state sector was an element of achieving that,” Lardy explained.

Deng Xiaoping, one of Xi’s predecessors, who launched China’s now-famous pro-market reforms in the late 1970s, understood that the country was destitute because it was strangled by the Communist state and cut off from the world. Deng and his successors steadily lifted controls on private investment, trade, and foreign business. Unfettered by overbearing state planners, China’s entrepreneurial energies, mixed with imported capital and technology, unleashed an explosion of growth and wealth.

“He is feeling under siege,” James McGregor, the chairman of the China arm of the consulting firm APCO Worldwide, told me. Chinese officials “are eliminating all vulnerabilities to the outside world, or reducing them as much as they can.”

In other words, China will stay open for business—if that business helps protect its own interests.

an economist at the research firm Capital Economics, dubbed the self-sufficiency drive a “lose-lose” for China’s economy, because it diverts resources from more productive purposes and forces firms to choose suppliers for political, not economic, reasons

This dovetails nicely with another of Xi’s goals, self-sufficiency. China, he believes, should produce homemade substitutes to key products now bought from overseas—especially microchips and other critical technologie

To protect national security, China needs “independent, controllable, safe, and reliable” supply chains, Xi said in an April speech, with “at least one alternative source for key products and supply channels, to create a necessary industrial backup system.” Localizing technology has been a long-standing Chinese ambition, but China watchers think Xi has thrown that plan into hyperdrive

All of this adds up to a grand experiment in the kind of state-directed development unseen since the days of Mao Zedong.

Classically trained economists frown upon Xi’s program. He’s ticking just about every box of what not to do to propel incomes and innovation

et we shouldn’t immediately dismiss his plans as doomed to fail. As a gargantuan market of 1.4 billion people, China can develop local companies of size and scope without bothering much with the outside world. (Ma’s Ant is a prime example.) If the program works, economists may have to rewrite their textbooks.

et the undertaking is fraught with risks. By favoring the state sector, Xi is funneling valuable money and talent to notoriously bloated and inefficient government enterprises instead of far more nimble and creative private firms

Xi wishes to reduce China’s reliance on other countries, especially potential adversaries such as the United States. From Beijing’s perspective, the Trump administration’s restrictions on technology sales to the telecom giant Huawei Technologies and other Chinese outfits exposed the dangers of counting on untrustworthy foreigners, and Xi intends to ensure that China’s advance can’t be upset by politicians in Washington or elsewhere.

learly, Xi is preparing for protracted conflict between the world’s two largest economies by attempting to fireproof China from measures President-elect Joe Biden might use against him. Yet in doing so

if Xi succeeds in replacing more of what China purchases from the world, he will also undermine the economic rationale for continued engagement with a brutal authoritarian regime. Xi thinks he is shielding China against isolation. He could instead be causing it.

How did this happen? How did cultural globalization in the twentieth century travel along such a one-way path?

For the American delegates, the question belonged to the higher plane of moral principle. The delegation wanted to extend into the international sphere the classic liberal notion of press freedom, which would prohibit governments from censoring the news and enshrine the rights of journalists to access sources and to dispatch the news across borders.

Carlos Romulo, the legendary Philippine diplomat and journalist who had uncovered Japanese atrocities in his country, went so far as to call freedom of information the “touchstone of all the freedoms to which the UN is consecrated.” World War II had been horrifying in scale and severity; information barriers were believed to have played a part. Japan’s and Germany’s bids for autarky had insulated their citizens from global currents, incubated aggressive nationalism, and, from the perspective of American policymakers, driven the world into war.

The answer, Sam Lebovic’s new book, A Righteous Smokescreen: Postwar America and the Politics of Cultural Globalization, convincingly argues, largely comes down to American policy in the middle decades of the twentieth century.

But when 600 or so journalists, media magnates, and diplomats arrived in Geneva in 1948 to draft the press freedom clauses for both the U.N. Declaration of Human Rights and the International Covenant on Civil and Political Rights, definitional difficulties abounded. Between what the U.S. meant by “freedom of information” and what the rest of the world needed lay a vast expanse.

By 1949, American films made up around half of the European and Asian markets, 62 percent of the African market, 64 percent of the South American market, and three-quarters of the Central American and Pacific markets.

Back in Geneva, delegates from the global south pointed out these immense inequalities. S.A. Brelvi of India called for the wealthier nations to equitably allocate the “supplies of physical facilities and technical equipment for the dissemination of information between all countries.” But the American delegates refused the idea that global inequality itself was a barrier to the flow of information across borders. Besides, they argued, redistributive measures violated the sanctity of the press

The U.S. was able to strong-arm its notion of press freedom—a hybrid combining the American Constitution’s First Amendment and a consumer right to receive information across borders—at the conference, but the U.N.’s efforts to define and ensure the freedom of information ended in a stalemate.

The failure to redistribute resources, the lack of multilateral investment in producing more balanced international flows of information, and the might of the American culture industry at the end of the war—all of this amounted to a guarantee of the American right to spread information and culture across the globe.

But representatives of other states had more earthly concerns. The war had tilted the planet’s communications infrastructure to America’s advantage. In the late 1940s, for example, the U.S. consumed 63 percent of the world’s newsprint supply; to put it more starkly, the country consumed as much newsprint in a single day as India did over the course of a year. A materials shortage would hamper newspaper production across much of the world into at least the 1950s (though this did provide the fringe benefit of enabling political interference with the press: The CIA supplied Italian anti-Communist newspapers with newsprint in the lead-up to the 1948 election, while the U.S. occupation administration in Japan cut the allocation of newsprint to local Communist newspapers). The war had also laid low foreign news agencies—Germany’s Wolff and France’s Havas had disappeared entirely—and not a single news agency called the global south home. At the same time, America’s Associated Press and United Press International both had plans for global expansion,

The focus of A Righteous Smokescreen is broader. It is a study of both sides of the globalization ledger: As the U.S. exported its culture in astonishing amounts, it imported very little

it remained surprisingly cut off from the rest of the world. A parochial empire, but with a global reach.

Containment, Lebovic shows, wasn’t just a territorial strategy committed to holding back Soviet expansion into Europe and Asia. Rather, it began at the American border and it involved policing the flow of people and ideas that were potentially inimical to the American status quo

An Iron Curtain, to rejig Churchill’s famous speech about Soviet policies in Eastern Europe, had descended around the U.S.

can be seen in the American national security state’s efforts to block out “propaganda.”

Throughout most of the second half of the twentieth century, Americans had to seek government approval to purchase magazines, books, and even stamps from China, North Korea, Cambodia, Cuba, and Vietnam.

An untold number of parcels—untold because for several years of the program they didn’t have to notify would-be recipients that the government had decided to destroy their mail—never arrived at their American destination.

even without direct state interference, American culture had inward-looking tendencies

Few of the films shown in American cinemas were foreign (largely a result of the Motion Picture Production Code, which the industry began imposing on itself in 1934; code authorities prudishly disapproved of the sexual mores of European films)

Few television programs came from abroad (about 1 percent, in fact, in the early 1970s—compared to 12 percent in Britain and 84 percent in Guatemala)

Few newspapers subscribed to foreign news agencies. Even fewer had foreign correspondents. And very few pages in those papers were devoted to foreign affairs.

In 1910, nearly 15 percent of the American population had been born overseas, but by 1960, that portion shrank to only 5.4 percent. Similarly, bureaucrats in the burgeoning national security state kept a variety of radicals from entering and leaving the country. Since World War I, foreign anarchists, Communists, and others—ranging from German spies and saboteurs to Black internationalists—found the gate to the U.S. bolt-locked. Likewise, Americans whom the State Department identified as holding so-called “alien” beliefs were barred from the exits.

In-person contact with foreigners was limited, too, thanks to travel controls.

Two exhibitions, one in the U.S., the other in the Soviet Union: Yet neither artist could attend their own exhibition because of American border policies. The State Department had denied Picasso a visa back in 1950 on ideological grounds, and it refused to issue a passport to Kent because of his alleged sympathies for communism.

So-called “area restrictions” forbade all Americans from traveling to countries in the Communist bloc.

in the 1940s and ’50s, hundreds or even thousands of Americans—more precise data from the innards of the national security state is rather difficult to come by—were denied passports and many, many more never thought to apply for one in the first place, out of fear of what a background check might turn up.

(about half of all foreign scientists who sought to enter the U.S. in the early postwar years encountered visa difficulties).

how “actively engaged” was the U.S., really? The answer in Menand’s exploration of culture in the early Cold War is: very. Menand points to the rest of the world’s ravenous consumption of American entertainment as evidence, as well as how Americans “welcomed and adapted art, ideas, and entertainment from other countries”

as Louis Menand notes on the first page of his recent book, The Free World, it was an era in which “the United States was actively engaged with the rest of the world.”

in Lebovic’s telling, this was a narrow stream. A lot of its contents were foreign imports that had already been thoroughly Americanized.

The flow of foreign culture and ideas into the U.S. was so limited that building bridges with the rest of the world became an important impulse of the social movements of the 1960s and ’70s,

He also disagreed with Friedman’s nemeses, the Keynesians, who worried that nations wouldn’t be able to fine-tune spending and taxing policy for domestic conditions if they had to keep their currencies in sync with the dollar.

Although the United States’ share of global domestic product has shrunk since the aftermath of World War II, the dollar continues to play a dominant role in financial flows. “Around half of all cross-border bank loans and international debt securities are denominated in U.S. dollars,”

the world today is closer to Kindleberger’s vision than he or his intellectual opponents could have imagined

What’s more, the Federal Reserve has become in effect the world’s central bank: When the Fed raises rates aggressively, as it’s doing now, other central banks tend to follow sui

t the British Empire really was an empire; London bankers were happy to extend loans to British companies operating in the colonies because they were subject to British law. That enabled the colonies to develop somewhat, albeit under Britain’s thumb. The United States has less control over borrowers in emerging markets. Kindleberger’s goal was “to get the economic boost of imperialism, but without the political and social downside of actual imperialism,” Mehrling wrote.

Roosevelt worsened and extended the Depression in 1933 by torpedoing central bankers’ efforts to stabilize exchange rates between currencies.

In contrast, Paul Volcker, who chaired the Fed from 1979 to 1987, comes across as a hero in the book for working with other central bankers and finance officials to resume international cooperation after the Nixon shock of 1971.

There’s a concept in economics of the optimal currency area. In theory, the area of a shared currency, such as the euro, should be big enough to encompass a lot of economic activity but not so big that it includes nations that are disparate and require different economic policies. To Kindleberger, no area could be too big. He thought the whole world was an optimal currency area.

In essence, his goal was to duplicate on the world stage what was achieved in the United States by a mentor of his, Henry Parker Willis, who was a designer of the Federal Reserve System that knitted the nation together financially.

Kindleberger was realistic enough to observe that nationalist politics was an obstacle. “While the optimum scale of economic activity is getting larger and larger, the optimum social scale appears to be shrinking,” he once wrote. Elsewhere, he wrote: “Whereas the economic logic of the payment system pushes toward hierarchy and centralization, the political logic of subglobal and subnational groupings pushes toward autarky and pluralism.”

From this point on, autarky is the only feasible economic choice for Russia, and a retreat into isolation is the only remaining cultural and political choice. At the same time, Russia's dependence on China, which has grown in recent years, is no longer a matter of choice. Any security benefits from turning Ukraine — and neighboring Belarus, from whose territory Putin also attacked — into a buffer state are illusory since Russia also borders actual NATO member states, which now will arm themselves as heavily as possible. 

This attack achieves no conceivable gain. It is the worst possible move from a rational standpoint, a petty man’s revenge on a grand scale. It seals Putin’s place in history — not as a nation builder but instead as someone whose entire legacy will need to be erased for Russia to go back to a semblance of normality.

Their average age is 68 years old and they have a lot in common. The collapse of the Soviet Union, which Mr Putin famously described as the greatest geopolitical catastrophe of the 20th century, was the defining episode of their adult lives

Four out of five have a KGB background, with three, including the president himself, coming from the ranks of counterintelligence. It is these hardened men, not polished diplomats like Foreign Minister Sergey Lavrov, who run the country’s foreign policy.

In recent years members of this group have become very vocal. Messrs Patrushev and Naryshkin frequently give lengthy interviews articulating their views on global developments and Russia’s international role.

According to them, the American-led order is in deep crisis thanks to the failure of Western democracy and internal conflicts spurred by the promotion of tolerance, multiculturalism and respect for the rights of minorities. A new multipolar order is taking shape that reflects an unstoppable shift in power to authoritarian regimes that support traditional values.

Given the state of affairs in Western countries, the pair contend, it's only natural that they seek to contain Russia and to install pro-Western regimes in former Soviet republics. The West’s ultimate goal of a colour revolution in Russia itself would lead to the country’s conclusive collapse.

Washington sees unfinished business in Russia’s persistence and success, according to Mr Putin’s entourage. As America’s power wanes, its methods are becoming more aggressive. This is why the West cannot be trusted

The best way to ensure the safety of Russia’s existing political regime and to advance its national interests is to keep America off balance.

Seen this way, Ukraine is the central battleground of the struggle. The stakes could not be higher. Should Moscow allow that country to be fully absorbed into a western sphere of influence, Russia’s endurance as a great power will itself be under threat

The fact that the new elite in Kyiv glorifies the Ukrainian nationalists of the 20th century and thumb their noses at Moscow is a huge personal affront.

Messrs Patrushev, Bortnikov and Naryshkin all find themselves on the US Treasury’s blacklist already, along with many other members of Mr Putin’s inner circle. There is no way back for them to the West’s creature comforts. They are destined to end their lives in Fortress Russia, with their assets and their relatives alongside them.

As for sanctions by sector, including those that President Joe Biden’s team plans to impose should Russia invade Ukraine, these may end up largely strengthening the hard men’s grip on the national economy

Import substitution efforts have generated large flows of budget funds that are controlled by the coterie and their proxies, including through Rostec. The massive state conglomerate is run by a friend of Mr Putin’s from his KGB days in East Germany, Sergey Chemezov

In a similar vein, a ban on food imports from countries that have sanctioned Russia has led to spectacular growth in Russian agribusiness. The sector is overseen by Mr Patrushev’s elder son Dmitry, who is Mr Putin’s agriculture minister.

further sanctions wouldn’t just fail to hurt Mr Putin’s war cabinet, they would secure its members' place as the top beneficiaries of Russia’s deepening economic autarky.

The same logic is true of domestic politics: as the country descends into a near-permanent state of siege, the security services will be the most important pillar of the regime. That further cements the hard men’s grip on the country

Russia’s interests are increasingly becoming conflated with the personal interests of the people at the very top of the system.