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Showing posts with the label neoliberalism

Russian Capitalism is Both Political and Normal

I think capitalism in Russia would be more accurate than Russian capitalism. “The narrative emphasising how the hybrid nature of the Russian state – neoliberal regulatory and statist interventionist – led it down the path to war in Ukraine, offers a fragmented (and misleading) explanation of reality. The problem is that the ideological and political features of the state are interpreted as exercised for purposes outside of capitalist accumulation – be it nationalism, patriarchy, racism, homophobia – conceived as separate systems of oppression from class.” On expropriation and social reproduction Related On the war and on internationalism The Development of Capitalism in Russia 

A Review of Fukuyama’s Liberalism and Its Discontents

What remains constant is Fukuyama’s reliance on transhistorical psychological models of immutable human nature, rather than an analysis of material and economic relations, to explain the current fragility of liberal democracy. While Fukuyama does not abandon a commitment to the capitalist market, he avers that, under neoliberalism, the “valid insight into the superior efficiency of markets evolved into something of a religion, in which state intervention was opposed as a matter of principle.” The review has a misleading title. Fukuyama, according to the review itself, does not argue that or has reached the conclusion that “socialism is the only alternative to liberalism.”

John Bolton and American-Supported Coups

“Speaking to CNN yesterday, John Bolton — a national security adviser under Donald Trump, who also served under George W. Bush, George H.W. Bush and Ronald Reagan — volunteered that he’d helped plan coups in other countries. He was drawing a distinction between what Trump had done on January 6, 2021, encouraging rioters to march on the Capitol, and his own portfolio. ‘As somebody who has helped plan coups d’état, not here, but you know, other places,’ he said, ‘it takes a lot of work and that’s not what [Trump] did. It was just stumbling around from one idea to another.’  The US  has a  long history  of  removing elected  politicians of which  it does  not  approve .” Latin American coups upgraded

Ukraine and the Empire of Capital

From Marketisation to Armed Conflict

Chile: Will Real Change Come?

The pink left has also gained ‘power’ in Chile. Unlike Honduras , the country is the richest in Latin America. Will Boric’s government fare better than the previous leftist governments in the region? I doubt it . “It  is worth remembering the  experiences of Syriza in Greece and Podemos in the Spanish State . Both these parties, with some of the same ideological foundations as the Broad Front in Chile, promised an end to neoliberalism via elections. But once they arrived in government, they implemented many of the  neoliberal policies demanded by the institutions of the ruling class. 

Counter-Counter Revolution

Some of the arguments in this review are very interesting. Here is one of them. “If you had told someone at the start of 1975 that the architects of the new age were going to be the  MP  for Finchley [Margaret Thatcher] , the bishop of Krakow [ Pope John Paul  II] , the exiled ayatollah [ Khomeini]  and the ostracised apparatchik [ Deng Xiaoping , you would have been laughed at. Apart from anything, they looked so powerless. So we shouldn’t be surprised if we can’t yet spot who is going to make the difference this time round. What we’re waiting for is the counter-counter-revolution, led by progressives who have learned the lessons from the age of neoliberalism and are unafraid to make use of its instruments in order to overthrow them. Plenty have started trying. Someone will get there in the end and maybe by the end of the decade we will discover who. But it is unlikely to be anyone near a position of power right now.”

‘Bidenomics’: Its Origins and Its Limitations

Is this shift sufficient to tackle the century’s social and ecological crises? Not nearly. Does it alter essential class relations? On the contrary: it strives to re-legitimize the social order. Is it unambiguous? No: while private finance has been kept out of new domestic infrastructure projects, the US is still driving privatization and deregulation in the global south and intensifying its new Cold War on China. Will it propel a new phase of economic expansion? I doubt it, due to the sheer scale of global overaccumulation and the fade-out of the industrialization bonanza. 1979 in Reverse

Biden, Profits, Wages and “Social Democracy”

Is he really trying to redistribute wealth to workers? ‘Redistribute’, not ‘distribute’ implies that wealth was once distributed to workers. No, what happened between 1945 until the ascent of the neoliberal form of capitalism was a social contract based on compromise between the state, capital and trade unions.  Are the profits too high? I don’t think so. One of the reasons we are in an “era of anaemic economic growth” is that the low rate of profit/of return to capital is not high enough to incentivise the capitalists to invest. Thus some governments are intervening and pouring money into the economy and corporations as well as giving financial support to families and individuals, especially because of the pandemic. As Cédric Duran put it: “  Is this shift sufficient to tackle the century’s social and ecological crises? Not nearly. Does it alter essential class relations? On the contrary: it strives to re-legitimize the social order. Is it unambiguous? No: while private finance has be