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 Irish government announcement of a €34 billion Euro bailout, two years after the financial crisis first broke, is a reminder that little has been done to prevent it happening again just as the social costs are becoming ever more evident.
"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?
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.