The Democratic Party is having an internal battle over the “small” and the “large” infrastructure bills, but what’s really at stake is the future of neoliberalism within the party. The smaller “bipartisan” bill represents the neoliberal worldview, including public-private partnerships and huge subsidies to for-profit companies, whereas the larger “reconciliation” Democratic Party-only bill hearkens back More
The problem with China is that it isn’t a communism: it is a Stalinist construct whose beginning was a massacre of one million capitalists. Such a system can never be a model and I would that it is basic a system based on terror. Unfair?
Check out my DMNC model: all systems, including US and China are (degenerate versions of that model); the us has democracy in quotes, markets with a vengearnc, a bit of planning, a few nationalized tidbits, and no Commons. China has no democracy, capitalist colonialis markets, state capitalism but no Commons, and lots of planning
Bo0th systems here fail because they are fragments of DMNC.
The Three Revolutions of the Chinese Communist Party
By Walden Bello.
After a visit to the new Soviet Union in the 1930s, the American journalist Lincoln Steffens famously wrote, “I have seen the future and it works.” In a similar manner, China’s startling success has captivated many outside China.
One of those most mesmerized is the Columbia University economics professor Jeffrey Sachs. Sachs has done a complete turnaround from his early days as a champion of the free-market “Washington Consensus” in the 1980s and 1990s. In a recent talk with United Nations officials, Sachs claimed that “China shows a path for how it is possible to make profound transformations for well-being in a short period of time.”
Sachs, who has been accused by some of his colleagues of “channeling Xi Jin Ping,” is just one of a bevy of liberal and progressive western economists who no longer have any hope that a U.S. economy ruined by neoliberal policies that have fostered deindustrialization, out-of-control financial speculation, and spectacular inequality (with 50 per cent of the population having access to only 12 percent of the wealth) has much of value to offer the global South. China, on the other hand, is seen as the new North Star, the country most capable of providing global leadership for a strategy that Sachs calls “sustainable development.”
But China has not embraced Sachs’ “sustainable development,” nor has it promoted what some western economists have deluded themselves into thinking of as China’s response to the neoliberal Washington Consensus: the so-called Beijing Consensus. When it comes to what China has to offer the world, Beijing has gone out of its way to say it is not prescribing a model for other countries. Indeed, it has gone to some lengths to claim that what Deng Xiaoping called “socialism with Chinese characteristics” is a state-guided capitalist system unique to China and probably non-transferable.
Sold under the pretence of a quest for optimising well-being and ‘happiness’, capitalism thrives on the exploitation of peoples and the environment. What really matters is the strive to maintain viable profit margins. The prevailing economic system demands ever-increasing levels of extraction, production and consumption and needs a certain level of annual GDP growth for More
Today’s declining U.S. capitalism can no longer repeat its previous bland celebrations of private enterprises and free markets. Too much is going wrong, provoking criticism, and deepening divisions across U.S. society. The last time U.S. capitalism stumbled this badly—the Great Depression of the 1930s—public health did not suffer massive failure at the same time. Yet, then too, criticism of capitalism reached far, wide, and deep. More
The question of which is better from a strategic political perspective, hurtling or stumbling toward catastrophe, depends on assessments of the causes. Neoliberalism, the corporate-state amalgam that has been developing for four decades now, has built defenses around its reforms that are akin to a doomsday machine. By assigning private economic motives to the public More
The last time that the pay of the rich— corporate profits and gains on speculative wealth, failed to rise for a few months in a row, a revolution ensued. The revolutionary method, now called neoliberalism, was well under way by the time that Ronald Reagan was elected to the presidency in 1980. It emanated from economic and political power— the establishment, and it relied on discrediting the central institutions of the New Deal, including the very idea of a public purpose, to impose a tyranny of capital. To date, the sentiment that this power has shifted goals, rather than tactics, is belied by the provisional nature of recent reforms.
The ascendance of Wall Street, and of a managerial bureaucracy (PMC) more generally, largely explains the political realignments that have been playing out in the U.S. Beginning in the 1970s, the American political class made decisions at the behest of business interests and oligarchs to restructure the U.S. economy in ways intended to shift the balance of political and economic power towards capital. Finance was, and still is, the method of affecting this transfer of power. However, the current epoch of finance capitalism has run its course. Its logic has been lost. The threats to the neoliberal order are now internal to it. More
Promoted by the likes of Friedrich Hayek, Augusto Pinochet, Milton Friedman, Margaret Thatcher, Roland Reagan, Alan Greenspan, etc. une idée fixe of neoliberalism has been around since the 1980s. The key elements of this ideology are the support for fiscal austerity, rampant deregulation (i.e.: pro-business re-regulation), free trade, less taxes for the rich and corporations, privatization, reduction in government spending, anti-unionism, a tendency to endanger democracy, the elimination of workers’ rights, a