Neoliberalism’s predecessor policy regime, Keynesian demand management, collapsed in the inflation crisis of the 1970s, he argues, because the classes in whose interests it primarily operated – the manual workers of western industrial society – were in historical decline and losing their social power. In contrast the forces that gain most from neoliberalism – global corporations and especially financial ones – have emerged from this crisis more powerful than before. Considered too big to fail, they have to be protected from their own folly following their credit and derivatives spree of the 1990s and 2000s.

October 20, 2012 § Leave a comment

http://www.irishtimes.com/newspaper/opinion/2012/1020/1224325505287.html

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You are currently reading Neoliberalism’s predecessor policy regime, Keynesian demand management, collapsed in the inflation crisis of the 1970s, he argues, because the classes in whose interests it primarily operated – the manual workers of western industrial society – were in historical decline and losing their social power. In contrast the forces that gain most from neoliberalism – global corporations and especially financial ones – have emerged from this crisis more powerful than before. Considered too big to fail, they have to be protected from their own folly following their credit and derivatives spree of the 1990s and 2000s. at - Invisible Backhand -.

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