Brexit: Towards a new global phase of organized capitalism?

Abstract

The main argument in the article is that the Brexit vote and strategy of the government of the UK post-Brexit should be seen as part of wider developments in global capitalism. It is suggested that there is a counter-movement against liberal capitalism that was triggered by the economic crisis of 2008 and the stagnating incomes that set in as austerity policies were widely pursued. The new direction is termed as organized capitalism, with a stronger focus on the national level. This is reflected in the election of Donald Trump in the US, the rise of right-wing populist parties in Continental Europe and the erosion of global liberal institutions. Organized capitalism does not have to be reactionary as it may open up wider options for societal influences on the economy that can be a source of social reforms.