If the 50 years following 1918 witnessed the slow and erratic ascendance of social democracy (punctuated and accelerated by WWII) then the 50 years since have witnessed its equally slow and erratic dismantling. It was eventually Keynes ‘The General Theory of Employment, Interest and Money’ rather than Kapital which provided the theoretical understanding of that ascendancy, and in my opinion James K Galbraith’s ‘The Predator State’ is the nearest we have yet to an analysis of its demise.
In his recent article ‘The Three Tribes of Austerity' (on the Project Syndicate website) Yanis Varoufakis has suggested an enhancement of Galbraith’s thesis, one that renders the picture with somewhat higher resolution, by sorting the predators into three different species. Varoufakis of course had enlisted the advice of Galbraith during his doomed spell of trying to defend the Greek economy from EU predation, and a whiff of doom is still detectable in his article.
Showing posts with label keynes kapital social-democracy varoufakis galbraith predator greece economics austerity 1918. Show all posts
Showing posts with label keynes kapital social-democracy varoufakis galbraith predator greece economics austerity 1918. Show all posts
Subscribe to:
Posts (Atom)
GILT BY ASSOCIATION
I don’t have any special credentials as a commentator on geopolitics, but occasionally, like now, I feel obliged to have a stab at it. The c...
-
To me, a very interesting aspect of Boris Johnson’s assumption of the premiership yesterday was the fact that both the Daily Telegraph and T...
-
Steve Bell’s goats cartoon hits home because “herd immunity” was indeed the worst gaffe so far in the coronavirus emergency, a verbal...
-
"Capitalism no longer dreams of a unified world. Instead, market radicals have shattered the globe into thousands of zones, enclaves, a...