Former Greek Finance Minister Yanis Varoufakis argues that the nation-state is dead and democracy in the EU has been replaced by a toxic algorithmic depoliticisation that, if it is not confronted, will lead to depression, disintegration and possibly war. He calls for a launch of a pan-European movement to democratise Europe, to save it before it is too late.
The increasingly precarious nature of work and life poses a serious threat to democracy as it undermines our social fabric, atomizes individuals and seeks to personalize blame for economic insecurity. What potential is there for ‘the precariat’ to become a new kind of social movement with a collective vision to reimagine contemporary life?
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.
The World Economic Forum’s Global Redesign Initiative is perhaps the best reflection of how corporations and other elites envision the future of governance. It calls for marginalising intergovernmental decision-making with a system of multi-stakeholder governance, but what does this mean for democracy, accountability and the rule of law?
Corporate executives and climate skeptics that mobilise against strong international climate change agreements have rightly been the focus of attention of many people concerned about the climate crisis. But another group of elites—those who actually believe in climate change —may paradoxically have done more to block effective solutions to the crisis.