Nikolai Huke, David Bailey, Mònica Clua-Losada, Julia Lux, Olatz Ribera Almandoz
02 May 2018
EU institutions and governments responded to the Eurozone crisis with a combination of austerity and authoritarianism that increased precarity and eroded liberal democracy. However, a survey of social movements shows that this technocratic depoliticization was only partially successful as the increasing exclusion of people from democratic decision-making also sparked novel forms of organizing that have opened up potential avenues for radical social change.
The derailment of progressive Keynesianism by Obama’s conservative, technocratic Keynesianism resulted in a protracted recovery, continuing high unemployment, millions of foreclosed or bankrupt households fending for themselves, and more scandals in a Wall Street where nothing had changed. Obama did not pay for this tragic outcome in 2012, but Hillary Clinton did in 2016.
Walden Bello shares some reflections on the meaning of Seattle for change in knowledge systems, discusses how despite the deep crisis of neoliberalism, finance capital has managed to retain tremendous power, and appeals for a new comprehensive vision of the desirable society.
Against all expectations, financial capital has emerged even stronger after the financial crisis having staved off regulation and putting the blame on public spending. But its victory is likely a pyrrhic one as a new crisis looms, one in which the global public could learn from victories such as reforms in Iceland and finally reassert its control over money.
Until the European Commission shows it has learnt the lessons of the 2008 financial crisis and demonstrates the political will to re-regulate the financial sector, it will be unable to resolve the crises in Greece, Ireland and Portugal
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.
current wave of strikes across Europe are only a prelude to what will
come, as the ruling elite are not prepared to change their anti-crisis
policies that have merely supported the corporations that caused the
Neoliberal market capitalism has dragged the world into a crisis which threatens human civilisation. Climate destruction, resource wars, and the replacement of democracy by an oligarchy face us if we don't act now to reduce the burden we place on our planet and reorganise society on a more egalitarian basis.
The range and scope of Giovanni Arrighi’s intellectual work – and in particular his ability to provide analysis rooted in a long-term geohistorical context - is truly an astonishing achievement,while his generosity of spirit towards his intellectual interlocutors had few equals.
Spearheaded by the current President of the UN General Assembly Miguel D´Escoto Brockmann, the UN Conference on the Financial and Economic Crisis and its Impacts on Development took place from June 24-26, 2009.
Howard Wachtel, Myriam vander Stichele, Susan George, Barry Gills
27 November 2008
Does the greatest financial crisis since the Wall Street crash of 1929 mean that the 'capitalism as we know it' has reached its end? TNI panelists analyse the causes and consequences of the on-going global financial crisis and discuss its profound implications for a changed world order.