History will not wait for the US as development marches on
On Monday, regulators of the Texas state warned citizens to use less power when soaring temperatures drove electricity demand to a June record, or they would face a repeat of the deadly failures in February that left 69 percent of Texans without power and half without water, according to the New York Times.
It is ironic news: In 2021, one of the richest states in the US asked its residents to use less power. Obviously, this is not a result of an accident or a natural disaster, but a flaw of its system that has been tested by extreme weather.
The flaw is rooted in the state’s vision of governance. Texas is portrayed as “the new Jerusalem of free market fundamentalism,” which implies a strong belief in the ability of unregulated laissez- faire or free market policies to solve most economic and social problems. The drawbacks of such a model have recently been exposed. Texas’ power crisis is only one of them. The US’ failure of fighting against the coronavirus epidemic has been unexpected. It is mainly the result of its system and governing practice under such a vision. The core of this extreme market economy is actually the neo- liberalism refined by US political theorist Francis Fukuyama more than 30 years ago. This governance notion has a strong belief on the actual function of Adam Smith’s “invisible hand” and market mechanism. Principles of market cost- benefit, as well as the idea of near- zero inventory of emergency supplies under the guidance of “tight balance,” have been firmly implemented.
And of course, when the test eventually comes, the answer will be obvious: The market cannot respond instantly and correctly as theories have suggested. As a result, as soon as extreme weather comes, Texas will have to implement power rationing. People in Texas will need to restore the living habits of the pre- electric age and learn the corresponding survival skills. When facing the epidemic, people have seen an unforgettable scene: Trapped by insufficient emergency supply reserves and distribution, frontline medical staff can only wear protective clothing temporarily modified with garbage bags, fighting in the wards with the world’s most high- end medical resources.
The so- called going back to the past is actually the belief that the US government has the ability and desire to adjust the proportions of manufacturing and financial industries. But the US cannot just go back to the past as it wants.
Whether it is the power outrage in Texas or the raging COVID- 19 pandemic, it is like a ray of light of this era, illuminating all aspects of the US. The current US is facing a daunting test. No matter how the US responds to the challenges, the pace of history will continue to march forward and will not stop for it.