Sunday, October 17, 2010

What is the Left to Do?

A Permanent Economic Emergency


During this year’s protests against the Eurozone’s austerity measures—in Greece and, on a smaller scale, Ireland, Italy and Spain—two stories have imposed themselves. The predominant, establishment story proposes a de-politicized naturalization of the crisis: the regulatory measures are presented not as decisions grounded in political choices, but as the imperatives of a neutral financial logic—if we want our economies to stabilize, we simply have to swallow the bitter pill.

The other story, that of the protesting workers, students and pensioners, would see the austerity measures as yet another attempt by international financial capital to dismantle the last remainders of the welfare state. The imf thus appears from one perspective as a neutral agent of discipline and order, and from the other as the oppressive agent of global capital.

Read more HERE.

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