That is no doubt the reason why the publication of David Graeber’s book Debt: The First 5,000 Years was greeted with euphoria, even by the bourgeois press. Struggles over state finances will be central battlefields in the next few years. The invisible hand of the market is joined by the visible fist of the state. Finance capital’s claims on returns are guaranteed and collected by the state. The answer of the political class has been fiscal consolidation. The deep crisis of capitalism has left in its wake a sovereign debt crisis. The last few years of crisis politics were a prime example of how on the one hand profits are privatized, while on the other hand losses are socialized.
0 kommentar(er)
