Posts Tagged ‘libertarian theory’

The Precariat – The new dangerous class

by Guy Standing

For the first time in history, the mainstream left has no progressive agenda. It has forgotten a basic principle. Every progressive political movement has been built on the anger, needs and aspirations of the emerging major class. Today that class is the precariat.

So far, the precariat in Europe has been mostly engaged in EuroMayDay parades and loosely organised protests. But this is changing rapidly, as events in Spain and Greece are showing, following on the precariat-led uprisings in the middle-east. Remember that welfare states were built only when the working class mobilised through collective action to demand the relevant policies and institutions. The precariat is busy defining its demands.

The precariat has emerged from the liberalisation that underpinned globalisation. Politicians should beware. It is a new dangerous class, not yet what Karl Marx would have described as a class-for-itself, but a class-in-the-making, internally divided into angry and bitter factions.

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Republican liberty and the future of the centre-left

by Michael Lind

The dominant tradition in popular politics is infused with the values of republican liberalism.  The contemporary centre-left, influenced by a mix of residual Marxism and technocratic progressivism, has ceded this ground to conservatives and libertarians, losing elections and popular appeal in the process. A twenty-first century centre-left needs to reclaim the tradition of republican liberty as its own.

The centre-left in Europe and North America is in a state of political collapse and intellectual exhaustion. In recent elections the Labour party lost control of the British government to a centre-right coalition and in the US the Democrats lost the House of Representatives to a resurgent right.  Parties of the right already ruled Germany, France and Italy.  Even Sweden, long the flagship of social democracy, is now governed by conservatives.

The crumbling of social democratic parties on both sides of the Atlantic has much deeper causes than poor leadership or the voter discontent produced by the Great Recession.  It is the culmination of trends going back to the unraveling of postwar social democratic settlements in the 1970s. In Europe and America alike, the industrial working class that supported midcentury social democracy has contracted, as a result of the offshoring of industry, productivity growth and the shift toward services in employment. When the postwar boom came to an end in the 1970s, Keynesian full employment and demand management policies appeared to be discredited. Ronald Reagan and Margaret Thatcher and their counterparts in other countries led a counter-revolution which failed to shrink the size of the state but succeeded in deregulating the economy and marginalising social democrats.

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A Year of Revolution

by Thomas McDermott

In a year of revolution, causes have been easier to identify than consequences.

In 1989, following the end of the Cold War, the American political scientist Francis Fukuyama wrote in The End of History? of the “unabashed victory of economic and political liberalism”, marking “the end point of mankind’s ideological evolution and the universalization of Western liberal democracy as the final form of human government”. In the decades since Fukuyama’s landmark essay, the very concept of revolution – at least in the context of the rich, Western world – had itself come to be seen as an almost anachronistic idea. That is, until this year. In 2011, revolution has returned to the center of global geo-political discourse.

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The Rebirth of Social Darwinism

by Robert Reich

What kind of society, exactly, do modern US Republicans want? I’ve been listening to US Republican candidates in an effort to discern an overall philosophy, a broadly-shared vision, an ideal picture of America.

They say they want a smaller government but that can’t be it. Most seek a larger national defense and more muscular homeland security. Almost all want to widen the government’s powers of search and surveillance inside the United States – eradicating possible terrorists, expunging undocumented immigrants, “securing” the nation’s borders. They want stiffer criminal sentences, including broader application of the death penalty. Many also want government to intrude on the most intimate aspects of private life.

They call themselves conservatives but that’s not it, either. They don’t want to conserve what we now have. They’d rather take the country backwards – before the 1960s and 1970s, and the Environmental Protection Act, Medicare, and Medicaid; before the New Deal, and its provision for Social Security, unemployment insurance, the forty-hour workweek, laws against child labor, and official recognition of trade unions; even before the Progressive Era, and the first national income tax, antitrust laws, and Federal Reserve.

They’re not conservatives. They’re regressives. And the America they seek is the one we had in the Gilded Age of the late nineteenth century.

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Economics for Dangerous Times

by Paul Collier

These are dangerous economic times. The Keynesian framework within which the policy response to the Great Recession was forged in 2009 is no longer adequate. The OECD may have reached the limits of crude fiscal stimulus and monetary expansion.

Fiscal credibility has eroded:  the financial brink on which Spain and Italy now teeter has seen the borrowing costs of their governments rise to exceed those of the government of Sri Lanka, while unprecedentedly US government debt has lost its triple-A rating. Even where monetary expansion is still feasible, as in the USA and the UK, interest rates are so low that it is hard to see how this would produce much of a stimulus. Yet over recent months the risk of a double-dip recession in the absence of further stimulus has evidently increased.

In the UK the incipient recovery of 2010 has stalled – the past nine months have seen virtually zero growth at a time when the economy should have been bouncing back from the deep recession of 2009, and hence growing faster than usual. The UK started from a genuinely difficult policy dilemma. Meanwhile, and less excusably, the USA and the Euro-Zone have each conjured up considerable risks of a return to recession through distinct yet persistent policy dysfunctions.

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