Tag Archives: Austerity

‘The Prospects and Consequences of a Possible Syriza Government’

‘The Prospects and Consequences of a Possible Syriza Government’
There are such things as pariahs in politics.  It’s not unreasonable to draw distinctions between the mainstream and the fringe, and make it difficult to cross that barrier to become a mainstream political force. Which means, when you have a movement that achieves that, that is something to be taken seriously.  It’s not a freak phenomenon, it’s not something which is achieved easily.  It’s a process of years.  And ... Read more

Why Austerity Is Generating Another Slowdown

Why Austerity Is Generating Another Slowdown
Austerity is undermining the world economy. The broader reasons for the commodity slowdown and deflation concerns involve a generally sick economy around the world. China has a growing debt bubble to manage. Japan’s experiment with economic revival has run aground amid a large increase in the consumption tax. And Europe stands on the brink of a triple-dip recession. America, with our sluggish growth, represents the positive outlier in this ... Read more

Europe’s Austerity Zombies

Europe’s Austerity Zombies
Austerity has failed in Europe. But its defenders are willing to claim victory on the basis of the weakest possible evidence: the economy is no longer collapsing, so austerity must be working! But if that is the benchmark, we could say that jumping off a cliff is the best way to get down from a mountain; after all, the descent has been stopped. But every downturn comes to an end. Success should not be measured by the fact that recovery ... Read more

The Era of Financialization, An Interview with Costas Lapavitsas: Parts 1 and 2

The Era of Financialization, An Interview with Costas Lapavitsas: Parts 1 and 2
These are the first two parts of a four-part interview with Costas Lapavitsas focusing on the Era of Financialization and the transformations at the “molecular” level of capitalism that are driving changes in economic performance and policy in both high-income and developing countries. Lapavitsas is a professor of economics at SOAS, University of London, and the author of Financialised Capitalism: Expansion and Crisis (Maia Ediciones, 2009) ... Read more

Mobilizing for the common: some lessons from Italy

Mobilizing for the common: some lessons from Italy
Tens of thousands of protesters marched on Rome this Saturday to denounce the austerity measures and economic reforms of Matteo Renzi’s new government and to restate their call for income, housing and dignity for all. Dozens were injured as clashes broke out towards the end of the march and police violently charged forward into the crowds, indiscriminately beating protesters and trampling over those who got caught in the way. What the police ... Read more

Where is the protest? A reply to Graeber and Lapavitsas

Where is the protest? A reply to Graeber and Lapavitsas
Last week, two commentaries appeared in The Guardian — one by David Graeber and the other by Costas Lapavitsas and Alex Politaki — basically asking the same question: given that we’re under such relentless assault by the rich and powerful, why are people not rioting in the streets? What happened to the indignation? The screws of austerity are only being tightened. So where are the protests? The two pieces provide two very different answers ... Read more

Obama’s First State of the Union a Source of Regret

Obama’s First State of the Union a Source of Regret
On Jan. 27, 2010, Obama appeared before Congress for his first State of the Union and declared that the time for moderate austerity had arrived. It would prove to be a seminal moment for his presidency -- setting the stage for years of debate over the deficit and debt reduction -- and it would be one that close advisers would come to regret. Read more