Two of the most consequential political developments in the United States in Trump’s second coming have been the emergence of hostility toward immigration and the rise of identity politics. These shifts, particularly under the presidency of Donald Trump, have redefined the global political landscape. Immigration debates have increasingly become intertwined with economics, culture, history and identity, fueling reactionary policies and nationalist sentiments.

This article explores the relationship between Keynesian economics, neoliberalism and the resurgence of imperialist tendencies, particularly in the context of Donald Trump’s political trajectory. It examines Trump’s policies, analysing their impact on migration, international relations, and economic stability, while also linking them to broader trends in capitalism and authoritarianism.

Post-World War II economic policy was marked by a bipartisan Keynesian consensus, ushered in by the Employment Act of 1946. Keynesianism, rooted in the belief that capitalism is inherently unstable and requires government intervention, helped stabilise economies ravaged by the Great Depression. However, as the 1970s drew to a close, Keynesian policies gave way to neoliberalism—a doctrine that champions minimal government oversight and unregulated market forces. This transition has had profound consequences for global economic and social stability.

The Trump administration sought to impose a far-right agenda driven by ideologues, White supremacists, and Christian fundamentalists. Policies pursued during this period exacerbated economic inequalities, weakened democratic institutions, and undermined global cooperation.

More alarmingly, Trump harboured imperialistic fantasies that threatened international stability. His alleged intentions to annex Greenland, Panama and even Canada demonstrated an overt disregard for international law and the Westphalian principles of national sovereignty.These reactionary policies, however, were inherently unsustainable. Many of Trump’s key officials lacked the competence to execute a long-term governance strategy. Moreover, the administration’s disregard for global alliances and multilateral agreements further alienated the United States from its allies, creating economic and diplomatic instability.

Neoliberalism has historically benefited the wealthy elite while exacerbating economic disparities for the working class and the poor in society. The tax cuts, deregulation and austerity measures championed by the Trump administration were designed to accelerate wealth accumulation for corporations and billionaires, all at the expense of social programmes that benefit ordinary citizens. This pattern of wealth concentration is not unique to the United States—similar policies were seen during the Thatcher and Reagan administrations, which ushered in a new era of capitalism that prioritised financial markets over industrial production.

The financialisation of the economy has led to increased volatility, as capital is increasingly directed toward speculative markets rather than productive investment. The Bretton Woods institutions, initially established to stabilise global financial systems, have often enforced structural adjustment programs that have plunged developing economies into debt crises. This systemic instability suggests that capitalism, in its current form, remains on an unsustainable trajectory.

The Trump administration’s approach to governance mirrored authoritarian regimes of the past. The resurgence of nationalist fervor and anti-democratic tendencies among his supporters indicates a broader shift toward illiberalism. The “Make America Great Again” movement was not merely about economic protectionism, it embodied a rejection of democratic norms and a nostalgia for imperial dominance.

Trump’s threats to overrun Panama, Denmark, or annex Canada were not just rhetorical flourishes but indicative of a deeper impulse toward expansionism. Such ambitions pose a direct challenge to the post-World War II international order, which was built on principles of sovereignty and mutual cooperation. The erosion of a rules-based international system, coupled with trade wars and economic isolationism, has contributed to the United States’ gradual decline as a global leader.

President Trump’s unpredictable foreign policy is disrupting global geopolitics, forcing other countries to reassess their long-term security and strategic autonomy. His admiration for strongman leaders and skepticism toward traditional alliances have left nations questioning their place in an increasingly volatile world order.




https://www.vanguardngr.com/2025/03/neoliberal-paradox-imperialist-fantasies-and-the-rebirth-of-empire/