On 10/10/2008 5:23 PM, Patrick Bond wrote:
But while we are all rather triumphalist about 'neoliberalism is dead'
(as nearly everyone seems to be), two other processes look likely to
now play out: a) new waves of austerity visiting on working peoples
plus eco-destruction in a frantic search for profit under conditions of
fiscal discipline; and b) resurgent neoliberal micro-processes but
revitalised within new regionalist institutions or even new state
agencies, e.g. if the Bank of the South follows the Brazilian
Development Bank model (as some here in Washington with good insider
connections and left instincts were fearing).
The other thing that worries me more and more is that some version of
Keynesianism and import substitution industrialisation is thought to be
the antidote, whereas one could just as easily argue that the origins
of the crisis came from Keynesianism's limitations and overaccumulation
within the ISI (luxury-oriented) model itself. So by placing blame on
"neoliberalism" or deregulation or greed/corruption/fraud, the critique
that is most easy/common on the liberal left begs the question of
deeper problems in accumulation dating back to the 1970s. Is that a
reasonable worry?
See you Monday in Caracas, Michael.
actually, Patrick, there seems to be some concern about a barbaric
version of your first process.both samir today and the minister of
economy of Ecuador yesterday warned about what the latter called the
real possibility of neo-Nazism -- precisely because the world oligarchy
is not prepared to give up its command of resources. An interesting and
bright guy (in fact, a former student of Harry Cleaver)./Michael
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Michael A. Lebowitz
Professor Emeritus
Economics Department
Simon Fraser University
Burnaby, B.C., Canada V5A 1S6
Director, Programme in 'Transformative Practice and Human Development'
Centro Internacional Miranda, P.H.
Residencias Anauco Suites, Parque Central, final Av. Bolivar
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