As the economic boom of the post-war period ended in the early 1970s, neoliberal ideology emerged as a rebellion against the statist strategies of the previous era. While neoliberalism was critical of Keynes it was also a further development of themes present in classical and neoclassical economic thought. Its most famous proponent was the economist-philosopher Friedrich von Hayek (1899-1992). His theory till the 2012 U.S. elections constituted the central intellectual adversary for the global justice movements, the leftist states in Latin America and other critics of corporate capitalism.
It's been amusing to listen to the pundits discuss the economic implications of Hurricane Sandy. Of course, we all know it closed the financial markets in NYC for two days. (That should lead to a sudden spike in productivity, by my reckoning, since millions of people stop looking at pointless charts and do something useful for a change.) Financial analysts worry about the impact on insurance companies. Their shares surely plunged on Wednesday morning when the markets reopened. One trader interviewed on Toronto radio put it bluntly: "Shoot first, ask questions later." In other words, sell them all off, and then buy back any that you later find out may not have been hit so badly by Sandy's fallout. [Rarely do you get such an honest glimpse into the base
At the opening night of PowerShift 2012 in Ottawa this past weekend, Gabriel Nadeau-Dubois from Quebec delivered a powerful speech in which he was very explicit in identifying capitalism as the enemy. He concluded with a statement along the lines of 'we either get liberty, or we die,' in which he meant liberty from capitalism. During a press availability session at PowerShift, rabble.ca asked Naomi Klein to comment about this statement:
Leo Panitch and Sam Gindin have just released their latest book, The Making of Global Capitalism. Gindin is the former Research Director of the Canadian Autoworkers Union and Packer Visiting Chair in Social Justice at York University, and Panitch is Canada Research Chair in Comparative Political Economy and Distinguished Research Professor of Political Science at York University. The two have worked together on many books and publications.
Aaron Leonard recently sat down with them in New York City to discuss their work. This is Part II of a three-part series.
Many progressives, unlike neoliberals, believe that labourers, not investors, are the fundamental source of economic productivity, innovation and wealth. Implicit in this line of argument is the view that business's capacity to accumulate profit therefore depends to some degree on its capacity to diminish labour's ability to bargain over control of the gains from rising productivity. Many social movements and unions contend that the neoliberal rules -- initially propelled by the United States --- of the WTO, the IMF, the World Bank and many governments, were not established to protect labour but instead to foster the well-being of those who invest for a living at the expense of those who must work.
Leo Panitch and Sam Gindin have just released their latest book, The Making of Global Capitalism. Gindin is the former Research Director of the Canadian Autoworkers Union and Packer Visiting Chair in Social Justice at York University, and Panitch is Canada Research Chair in Comparative Political Economy and Distinguished Research Professor of Political Science at York University. The two have worked together on many books and publications. Aaron Leonard recently sat down with them in New York City to discuss their work. The interview will be presented here in three parts over the coming days.
Part I: "An American Proposal"
In An American Dilemma, published in 1944, Swedish economist Gunnar Myrdal examined U.S. race relations, and concluded that the American "creed" would eventually vanquish widespread racism, and allow black and white Americans to live in greater harmony.
The election of a mixed-race U.S. president in 2008 did not mean the end of American racism. However, the victory of Barack Obama did confirm the guarded optimism of the conclusions Mrydal reached in his classic work of social science. A majority of those voting signalled it was all right for a non-white family to occupy the White House. Some 64 years after Myrdal documented the extent of systemic racism throughout the U.S., this definitely constituted progress.