The recent newsletters from Monocle, Bloomberg and Semafor, e.g., from April 29-30, 2025, sketch a world grappling with a potent mix of political déjà vu, economic precariousness, technological acceleration, and unexpected moments of social reconnection. These portray an assertive, disruptive force reshaping US policy domestically and internationally, while simultaneously capturing a global landscape characterized by trade anxieties, shifting consumer behaviour, rapid technological advancements, and surprising flickers of analogue community.

The newsletter fragments weave together moments of political consolidation, social detachment, continental ambition, luxury recalibration, and economic fragmentation, reflecting broader currents in our global landscape. In the United States, Trump’s unrelenting “slash-and-burn” governance, from border closures to DEI rollbacks, illustrates a potent exercise of the state-of-exception (Agamben, 2005) and hyperreal spectacle (Baudrillard, 1981), with profound legal and cultural reverberations. […]

Thanks for reading The Open Access Blogs! Subscribe for free to receive new posts and support my work.

Political Assertiveness and the Mandate Narrative

The description of Trump’s first 100 days back in office—marked by a “slash-and-burn agenda,” border closures, dismantling of DEI initiatives, and aggressive deportation strategies—presents a scenario of amplified executive action fueled by a perceived “rock solid” mandate, despite noted “sliding approval numbers” and potential tariff upheaval (Kaufman, as cited in the newsletter). This raises questions about the nature of political mandates in polarized societies and the effectiveness of resistance movements, which Kaufman suggests are “largely silent” this time around compared to Trump’s first term. This dynamic could be viewed through the lens of political science theories on populism, which often emphasize a direct, unmediated relationship between the leader and “the people,” potentially bypassing traditional checks and balances and marginalizing dissent (Mudde & Kaltwasser, 2017).

Donald Trump’s sec­ond term in office reflects a return to sovereign ex­cep­tion (Agamben, 2005) and the exer­cise of biopo­litical power (Foucault, 1977). The clos­ure of the US–Mexico bor­der and the “sanctu­ary cities” crackdown enact what Foucault (1977) de­scribed as the state’s com­mand over life and death, car­ried out with “inten­tion, pre­ci­sion and bombast” (Kaufman, as cited). This dynamic also echoes Agamben’s (2005) notion of the “state of excep­tion,” in which nor­mal legal lim­its are sus­pended in the name of secu­rity.

Moreover, Trump’s leverage over Zelensky and his hard-line Middle East policy invoke a Machiavellian realpolitik that sub­ordinates moral considerations to power con­solid­ation (Machiavelli, 1532/1998). The propo­si­tion to resettle Pal­esti­ni­ans outside of Gaza can be read through Giorgio Agamben’s (2005) critique of banishment as ulti­mate sovereign vitality, whereby entire populations become “bare life.” Finally, the un­abated growth of the Trump family’s business dealings—no­tably World Liberty Financial’s crypto sales—highlights neoliberal capital’s infil­tra­tion of govern­mental spheres, resonant with Harvey’s (2005) analy­sis of cap­i­tal accu­mu­la­tion through crises. […]

Economic Tremors, Shifting Values, and Strategic Adaptation

The economic picture is dominated by uncertainty, directly linked to the political climate, particularly the trade war. The “uncharted waters” described by Novo Holdings’ CEO Kasim Kutay, leading to a slowdown in major investments, encapsulate the prevailing mood. Mark Mobius’s move to hold 95% cash underscores extreme caution among some investors. This anxiety manifests in market volatility (the S&P 500’s described poor start) and tangible consumer impacts, as seen with Shein and Temu reportedly passing tariff costs directly to US consumers, potentially fueling inflation and altering shopping habits. The warning about Australia potentially losing its AAA credit rating due to election spending promises, alongside the US Treasury needing to drastically increase borrowing estimates due to debt ceiling inaction, points to broader fiscal strains in developed economies.

The luxury market slowdown provides a fascinating case study in shifting consumer values. While powerhouse brands like LVMH and Gucci face downturns, the resilience of Hermès and Brunello Cucinelli, along with Miu Miu’s success, suggests a bifurcation. Consumers, facing economic headwinds and perhaps questioning ostentation, are “reassessing the value of luxury,” prioritizing “best-in-class quality or designs that touch them emotionally” over mere branding or repetitive archival reissues (Theodosi, as cited in the newsletters). Amy Smilovic’s comment that “You can’t do luxury on €1bn of sales” points towards a potential crisis of scale, suggesting that true luxury might inherently resist mass-market strategies—a tension between exclusivity and the growth imperative of large corporations.

In the luxury sector, a “band-aid strategy” of archival reissues and branding, thus, no longer suffices as consumers demand emotional resonance and craftsmanship (Theodosi, 2025). McKinsey forecasts minimal growth through 2025 as brands reassess supply chains and price strategies amid tariff pressures (McKinsey & Company, 2024). More broadly, research on the U.S.-China trade war confirms that tariffs have raised consumer prices and dented real incomes on both sides, while creating distributional strains across sectors (Autor et al., 2020). Joshua Keating warns that prolonged economic conflict risks militarization of trade disputes, potentially destabilizing international order (Keating, 2025). […]

Link to the Full Review

Technological Acceleration as a Defining Force

The newsletter underscores the relentless pace of technological competition, particularly in AI and semiconductors. The fundraising ambitions of XAI, Huawei’s development of powerful new AI processors, Alibaba’s Qwen3 model competing with Western counterparts, and Xiaomi entering the fray illustrate the high stakes and rapid advancements in AI, increasingly framed as a key arena for national power. China’s reported breakthroughs in EUV lithography technology and advanced AI chip delivery by Huawei, despite Western restrictions, challenge assumptions about the efficacy of tech containment strategies and suggest a narrowing gap in critical technological capabilities. This race reflects a broader geopolitical struggle for technological supremacy, which many scholars argue will define international relations in the 21st century (Allison, 2017). The collaboration between Toyota and Waymo signals established players seeking partnerships to stay competitive in the autonomous driving sector.

By contrast, the blackout in Portugal and Spain reignited spontaneous, analogue sociality—ice-cream vendors sharing free scoops, neighbors gathering for card games, children reclaiming streets for football. Sociological studies of “digital detox” underscore how intentional disconnection can improve well-being and reinforce supportive relationships (Bhorkar, 2024; Turner et al., 2023). This event embodies Jun’ichirō Tanizaki’s celebration of shadow and communal intimacy (Tanizaki, 1933), suggesting that even in highly networked societies, darkness can illuminate the primordial need for face-to-face connection. […]

Social Resonance: Disruption, Community, and Identity

The piece offers compelling social and cultural snapshots. The Iberia blackout narrative is particularly striking. The spontaneous emergence of street life, shared resources (ice cream, barbecues), analogue entertainment (cards, radios), and face-to-face interaction provides a powerful counterpoint to our digitally saturated existence. It serves as a “candlelit masterclass in coming together,” revealing a latent desire for connection that transcends Wi-Fi dependency (Rebelo, as cited in the newsletter). This echoes transcendentalist ideals, perhaps Thoreau’s (1854/2004) emphasis in Walden on simplifying life to discover its essential truths and the richness of unmediated experience. It suggests that moments of systemic failure can paradoxically foster social resilience and reveal fundamental human needs. […]

Philosophical Echoes: Cycles, Chaos, and Control

The feeling of “déjà vu” surrounding the hypothetical Trump administration evokes Karl Marx’s (1852/2008) famous observation that history repeats itself, “the first time as tragedy, the second as farce.” Whether the described scenario represents tragedy or farce is subjective, but the sense of recurring patterns and unresolved conflicts is palpable. The pervasive economic and political uncertainty resonates with the Stoic challenge of maintaining inner equanimity amidst external chaos. Marcus Aurelius, writing in his Meditations, constantly reminded himself to distinguish between what is within his control (his judgments, responses) and what is not (external events, the actions of others), a potentially relevant philosophy for navigating the “uncharted waters” described by business leaders (Aurelius, trans. 2002). The murky Trump family business dealings continuing unabated (“no one appears able – or perhaps willing – to slow it down”) might even prompt reflections on the nature of power and accountability, themes central to political philosophy since Plato’s Republic. […]

Conclusion

This newsletter paints a picture of a world simultaneously experiencing forceful political assertion (particularly in the hypothetical US context), pervasive economic anxiety tempered by strategic adaptation, headlong technological advancement, and underlying social currents that both divide and, occasionally, unite.

The “cycle of disbelief and déjà vu” may continue, but beneath it lies a complex reality of shifting global power dynamics, evolving consumer values, the undeniable impact of technology, and the enduring human need for both security and connection. Navigating this landscape requires acknowledging the deep uncertainties while recognizing the pockets of resilience, innovation, and unexpected community emerging amidst the disruption. […]

Link to the Full Review

[Written, Researched, and Edited by Pablo Markin. Some parts of the text have been produced with the aid of ChatGPT, OpenAI, and Gemini, Google, Alphabet, tools (April 30, 2025). The featured image has been generated in Canva (May 8, 2025).]

[Support the Open Economics Blog: https://ko-fi.com/theopenaccessblogs.]

Thanks for reading The Open Access Blogs! Subscribe for free to receive new posts and support my work.