After a brief period of destabilisation, self-justification and the occasional mea culpa, the very people and institutions that plunged the world into crisis have re-emerged unscathed, as the fount of truth and all reasonable policy.
The flawed neoliberal notion behind India's hosting of the Commonwealth Games, that 'development' starts with attracting foreign capital investment - has brought only corruption and the destruction of communities to Dehli.
"The financial crisis" is one facet of the systemic and converging crises of capitalism - a predictable symptom of oligopolistic late capitalism; but what main challenges lie ahead for the Left in South Africa?
A new bill has been passed in Russia that will extensively roll back Government funding of education, the arts and social services - by introducing per capita financing - that will punish smaller towns and downgrade quality in the larger ones.
Behind the deaths, military repression and violence that has flared up on the streets of Bangkok lies another story of a country following the dictates of the IMF and the markets, which increased inequalities and unemployment for many Thais and created the resentment that will continue to fuel conflict in Thailand.
The “corruption-causes-poverty” narrative has become a standard tool in the hegemonic discourse kit for leaders in some developing countries - where in fact, Waldon Bello argues, it is neoliberal economic policies that are really to blame for poverty. Thailand’s “Red Shirts” are not, however, being distracted by the “corruption” line the World Bank and IMF are pushing, choosing instead to keep their eyes on the prize - the real answer to poverty - replacing neoliberalism with pro-people economic policies.
Recently invited to an interview at the World Economic Forum in Davos, Boris Kagarlitsky laments the disillusionment of Russian liberals, who think “real capitalism” doesn’t produce crises, while as the crisis deepens, critical voices draw increasing attention among audiences in the West.