Nèdeem Elmahjoub's blog

"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...

Tunisia Excluded from the national consensus that has brought together Islamist party Ennahda and the secular Nidaa Tounes, marginalized social categories (such as unemployed youth or inhabitants of the country’s least economically advanced regions) have protested at the lack of a credible development plan after decades of underinvestment and neglect by the central authorities. Inevitably, they have been recalcitrant to acknowledge the increasingly dangerous economic situation and the price to pay for the increasingly painful adjustment. Unable to manage their expectations, post-uprising governments have chosen to try and meet these groups’ demands now, rather than present a convincing long-term plan for sustainable development, thus avoiding any confrontation. As Tunisia has become too important to fail, the international community’s implicit insurance against any risk of sociopolitical disaster has made this bargain possible. Rentierism, patronage and moral hazard