The two decades following the end of the late-nineteenth century economic depression were the first great age of globalization; the world economy was… - Tony Judt

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The two decades following the end of the late-nineteenth century economic depression were the first great age of globalization; the world economy was truly becoming integrated in just the ways Keynes suggested. For precisely this reason, the scale of the collapse during and after the First World War and the rate at which economies contracted between the wars is difficult for us to appreciate even now. Passports were introduced; the gold standard returned (in 1925 in the British case, reinstated by Chancellor of the Exchequer Winston Churchill over Keynes’s objections); currencies collapsed; trade declined.

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About Tony Judt

Tony Robert Judt (2 January 1948 – 6 August 2010) was a British historian, essayist, and university professor who specialized in European history.

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Alternative Names: Tony Robert Judt
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Every politically significant revolution is anticipated by a transformation of the intellectual landscape. The European upheavals of the 1980s were no exception. The economic crisis of the early Seventies undermined the optimism of Western Europe’s post-war decades, fracturing conventional political parties and propelling unfamiliar issues to the center of public debate. Political argument on both sides of the Cold War divide was breaking decisively with decades of encrusted mental habits—and, with unexpected speed, forming new ones. For better and for worse, a new realism was being born.

But this still left unresolved two much harder dilemmas. What should be done with former Communist Party members and police officials? If they were not accused of specific crimes, then should they suffer any punishment at all for their past acts? Should they be allowed to participate in public life—as policemen, politicians, even prime ministers? Why not? After all, many of them had cooperated actively in the dismantling of their own regime. But if not, if there were to be restrictions placed on the civic or political rights of such people, then how long should such restrictions apply and how far down the old nomenklatura should they reach? These questions were broadly comparable to those faced by Allied occupiers of post-war Germany trying to apply their program of de-Nazification—except that after 1989 the decisions were being taken not by an army of occupation but by the parties directly concerned.

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Lenin’s distinctive contribution to European history had been to kidnap the centrifugal political heritage of European radicalism and channel it into power through an innovative system of monopolized control: unhesitatingly gathered and forcefully retained in one place. The Communist system might corrode indefinitely at the periphery; but the initiative for its final collapse could only come from the centre. In the story of Communism’s demise, the remarkable flowering in Prague or Warsaw of a new kind of opposition was only the end of the beginning. The emergence of a new kind of leadership in Moscow itself, however, was to be the beginning of the end.

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