Economic redistribution, and social equality required an interconnected, regional and global trading order. After 1989, it was easy to believe that a liberal democratic model, supported by US-sponsored international rules, would spread across the globe. However, over two decades, unmoveable progressive values proved internally and externally unsustainable. After 2008, the US subprime and Eurozone financial crises eroded the economic preconditions supporting these values and undermined the already fragile relationship between the nation state, the market, the media, and a cosmopolitan faith in a liberal democratic end of history. Ironically, liberal progressive values, committed to the idea that all social ills were amenable to technocratic remedy and that the state was a suitable instrument for making such change, rationally engineered inegalitarian outcomes. This chapter examines how the financial crisis destroyed the meliorist assumption linking capitalism, globalization, and democracy rendering the pursuit of universal emancipation and social justice increasingly redundant. One consequence of this evolution was an artificial intelligence and new technology driven intangible economic order. The new economy incubated a paranoid populist style of identity politics that emerged after 2016. Instead of convergence, the new intangible capitalist structure erected a burgeoning divide between a cosmopolitan elite and a disenfranchised, nation based, precariat class.