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Showing posts with the label "neoliberal capitalism"

Capitalism

Some of this reminds me of how five or six years ago in a class of seven students in a UK elite university three of them (two Germans and one British) were in favour of a "benevolent dictator" (in the Arab context). The bloody horrors of Pinochet showed how capitalism will react when it's threatened

Capitalism

State intervention may be back, but don't assume neoliberalism is dead Related Here is what the Financial Times , a supporter of neoliberal capitalism of last 40 years is suggesting to reform a system in a deep crisis and thus preserve it: "Radical reforms — reversing the prevailing policy direction of the last four decades — will need to be put on the table. Governments will have to accept a more active role in the economy. They must see public services as investments rather than liabilities, and look for ways to make labour markets less insecure. Redistribution will again be on the agenda; the privileges of the elderly and wealthy in question. Policies until recently considered eccentric, such as basic income and wealth taxes, will have to be in the mix."

Civilisation

Coronavirus and Civilisation Related UK Home Secretary refuses to take children from Greek camps

Neoliberal Capitalism

"Socialism" to save neoliberalism? Related: (from the Financial Times) By a defender of capitalism and "the gains of the free market" in the last decades. "More complex will be the response on welfare and inequality. While the pandemic is not a crisis of capitalism, it highlights the system’s weak spots, most notably around unprotected workers and those on precarious incomes. Many lost jobs will not come back as companies see means and need for leaner operations. For some this will strengthen the case for a universal basic income or a more generous safety net. At the very least we are likely to see demands for more protections for gig workers. The crisis strengthens those who want policy to think of the less fortunate." And this one: " Bailouts will again be needed now , given a  market downturn that mirrors 1929  and an economic contraction likely to be sharper than during the previous financial crisis. But if we want capitalism and libera

Racism in Europe

"Europe's so-called migration crisis can be understood as a fierce and multi-sided transnational social conflict of which racism and racist forces are one part. In order to understand racism in Europe today, then, it is productive to analyse the social struggles and structural contradictions associated with migration and border regimes which are shaped by racism and in turn shape racism's dynamic." The Role of Racism in the European "Migration Crisis" A must read

Orientalism Then and Now

"This is the Orientalism of an era in which Western liberalism has plunged into deep crisis, exacerbated by anxieties over Syrian refugees, borders, terrorism and, of course, economic decline. It is an Orientalism in crisis, incurious, vindictive, and often cruel, driven by hatred rather than fascination, an Orientalism of walls rather than border-crossing. The anti-integrationist, Islamophobic form of contemporary Orientalism is enough to make one nostalgic for the lyrical, romantic Orientalism that Mathias Énard elegizes, somewhat wishfully, as a bridge between East and West in his 2015 Goncourt Prize-winning novel,  Compass .  If Orientalism has assumed an increasingly hostile, Muslim-hating tone, this is because the “East” is increasingly inside the “West.” This is a clash not of civilizations, but rather a collision of two overlapping phenomena: the crisis of Western neoliberal capitalism, which has aggravated tensions over identity and citizenship, and the collapse of th
A critical review of UK's Labour Party economic policies Bill Jefferies' conclusion is that "What seems very radical and alternative now is firmly predicated on the existence of the market and will prevent measures that challenge or threaten that market in the future. The fact that socialism, a real alternative society and different world, plays no part at all in these alternatives is telling. Economics for the Many, in the words of McDonnell, aims to ‘inspire people with an alternative’ to neoliberalism by showing that another world is possible. Another world is possible but the arguments for it remain to be made." Economics for the Many
"In the Middle East of the new millennium ...few Arab activists had really strategized for a revolution, even though they might have dreamed about it. The postsocialist neoliberal ideas and practices had structured the conduct of and deradicalized much of the political class. At the same time that marketization caused social exclusion and dissent among the grassroots, it conditioned the activism of groups like yoith, women, and political opposition, including the Islamists. In pre-uprising Yemen, for instance, activism largely meant 'civil society work' in NGOs concerned with human rights, empowerment of women, charity, and development (up from five thousand in 2008 to more than thirteen thousand by 2013). The effect of which has been "depoliticizing activism and deradicalizing the idea of change." —Asef Bayat, Revolution without Revolutionaries , 2017, p. 174 The NGO-zation of resistance By Arundhati Roy
The Arab uprisings: an appraisal Comparing the Arab uprisings with the revolutions of the 1970s like the ones in Yemen, Nicaragua and Iran, social theorist Asef Bayat, pinpoints some crucial differences between them. The Arab revolutions, he rightly, argues, lacked an intellectual anchor. In contrast also to the ideas and visions behind the English revolution, the American revolution, the French revolution, and more recently, the Iranian revolution of 1979, the Arab uprisings lacked  leadership strategies.  Moreover, the Arab revolutions lacked that radicalism that marked the twentieth-century revolutions: anti-capitalism, anti-imperialism, social justice, etc. Instead, the prevailing voices from Tunisia to Yemen, from Libya to Syria, were the voices of legal reform, accountability and human rights. The predominant secular and Islamist currents took the free market and neoliberal capitalism for granted and uncritically.  Property relations and structure of power went unchall

Neoliberalism

"As a university lecturer I often find that my students take today’s dominant economic ideology – namely, neoliberalism – for granted as natural and inevitable. This is not surprising given that most of them were born in the early 1990s, for neoliberalism is all that they have known. In the 1980s, Margaret Thatcher had to convince people that there was “no alternative” to neoliberalism. But today this assumption comes ready- made; it’s in the water, part of the common -sense furniture of everyday life, and generally accepted as given by the Right and Left alike. It has not always been this way, however. Neoliberalism has a specific history, and knowing that history is an important antidote to its hegemony, for it shows that the present order is not natural or inevitable, but rather that it is new , that it came from somewhere, and that it was designed by particular people with particular interests."  —Jason Hickel, 2012 Hickel is a lecturer at the
The BRICS (Brazil, Russia, India, China, and South Africa) "1. The domestic policies of the BRICS states follow the general tenor of what one might consider Neoliberalism with Southern Characteristics. 2. The BRICS alliance has not been able to create a new institutional foundation for its emergent authority. It continues to plead for a more democratic United Nations, and for more democracy at the IMF and the World Bank. 3. The BRICS formation has not endorsed an ideological alternative to neoliberalism. 4. Finally, the BRICS project has no ability to sequester the military dominance of the United States and NATO... The force-projection of the United States remains planetary. If we look into the entrails of the system, we will find that its solutions do not lie within it. Its problems are not technical, nor are they cultural. They are social problems that require political solutions. The social order of property, propriety, and power has to be radically revised..."
End of the Neoliberal Era? I have selected some key points in an article by David Kotz. [I]f accumulation and profit rates have not been stellar, in some respects neoliberalism was much better for capital than the previous economic regime, in directing a far greater flow of wealth to the capitalist class. By  2010, neoliberalism had returned in the guise of austerity policy. The misery and insecurity of the Great Recession helped to fuel unexpected political developments— a rise of right-wing nationalism and renewed support for some kind of ‘democratic socialism’.  The current structural crisis has taken the form of stubborn stagnation despite unprecedented monetary stimulus, with slow economic growth, a low rate of capital accumulation, stagnating real wages and worsening economic insecurity for working people— conditions that have helped to produce new political polarizations. The main features of post-war [WWII] capitalism in the advanced economies are well known. The sta
I wonder what Klein's use of the description "deregulated capitalism" means in this context. Does she mean that "regulated capitalism" would have averted the worsening of the earth's eco-system?  Klein describes Sweden, Denmark and Uruguay as "democratic socialists." I think that is inaccurate. As a leftist she should be aware these countries are "social democracies." In Sweden, for example, approximately 90% of resources and companies are privately owned . High taxation, generous welfare state, etc does not make an economy socialist. "My focus is the central premise of the piece: that the end of the 1980s presented conditions that “could not have been more favorable” to bold climate action. On the contrary, one could scarcely imagine a more inopportune moment in human evolution for our species to come face to face with the hard truth that the conveniences of modern consumer capitalism were steadily eroding the habitability of t
Pinker is, after all, an intellectual darling of the most powerful echelons of global society. He  spoke to the world’s elite  this year at the World’s Economic Forum in Davos on the perils of what he calls “political correctness,” and has been named one of  Time  magazine’s “100 Most Influential People in the World Today.”  His new book is Bill Gates' favourite book of all time! Pinker claims to respect science, yet he blithely ignores fifteen thousand scientists’ desperate warning to humanity.  It should be added that Pinker is an apologist of the US imperialist violence and he is Islamophobic. The grim takeaway ... is that racist violence against African Americans has not declined at all, as Pinker suggests. Instead, it has become institutionalized into U.S. national policy in  what is known as  the school-to-prison pipeline. Pinker  unquestioningly propagates one of the great neoliberal myths of the past several decades: that “a rising tide lifts all the boats”—a phr