Suchergebnisse

Does austerity aim to reduce the deficits or is it but a pretext to move the state backwards, demolishing in the process what remains of social programs? It would now be a good time recall Keynes who concluded his «General Theory» with a call for the «socialization» of investment – a business too serious to be left in the hands of financial markets.

In this striking new book it is argued that the outraged attitudes of neoliberals and many of those who work in financial institutions with regard to the size of public deficits are far from being genuine and merely mask a desire to dismantle social programs and reduce the size of government.The author makes a persuasive case that neoliberals actively seek the deepening of the financial crisis to support their ideological demands for the shrinking of government expenditure. Indeed, he argues that neoliberals have an interest in encouraging a psychosis about public deficits in the general population to justify the cuts to public spending that will deny services to those same citizens.