Capitalism, neoliberalism, neocolonialism

[pipbarber]

Bit of a catch all thread on economics. I'm constantly shocked by the general level of ignorance around the history of capitalism and the ascent of neoliberal economic theory (aka: trickle down economics, laissez-faire capitalism, economic libertarianism). John Ralston Saul called the neoliberal take over of the state in the 1970s and 80s 'the silent coup d'etat,' he might have also called it the invisible coup d'etat. It happened, no one seemed to notice, and the next thing we know, governments had surrendered state assets, public wealth and the basic business of running nation states to private enterprise, mostly in the form of giant multi-national corporations. And it feels like it has always been this way! In the English speaking world, both sides of the political duopolies went all in. We had no choice, we didn't even really know what was happening. That's a hell of a coup d'etat.

Now the role of government seems to be to bail out the corporations when capitalism collapses, as it does once a decade or so. It's also the role of government to keep taxation to minimal levels, reduce regulations and generally provide the space for corporations to flourish and prosper. And all we get to do is vote for capitalist party A or capitalist party B, both of whom are largely impotent against their corporate overlords, who we absolutely do not get to vote for. It's a type of feudalism really, which of course many theorists have pointed out, over the years.

So it was bound to happen:

https://www.theguardian.com/us-news/202 ... te-detroit

Nice photo op for Biden, nice bit of electoral campaigning. But does he and do his advisers understand the symbolic significance, in the context of power relations, of a president joining a picket line? Yes, even our elected officials are subservient to the peculiar requirements and pursuits of capitalism. Biden might have been waving a white flag, that would have better illustrated the situation.

[pipbarber]

I bought this book last weekend and finished it last night and it's a required reading review from me.

https://www.booktopia.com.au/what-is-an ... 62765.html

What I found so useful was the way Kundnani exposes the racist qualities of the neoliberal project, which often leads with the bullshit that markets are 'color blind.' No they're not. Some great research around colonialism, and the neocolonialism that we all live with, and a fascinating discussion on Frantz Fanon's idea that Nazism and European fascism generally was a replication of the practices and mentality of colonialism brought back to Europe.

Some great analysis of the difference between the liberal understanding of racism, which is founded on individual prejudices, and the far more iniquitous, and less visible structural racism that pervades our political institutions and our globalised economic 'order,' especially in relation to neoliberalism.

The central claim is that racism isn't just something that capitalists have exploited, the very concept of race itself was in fact invented by capitalism in order to justify the theft of resources and exploit cheap labor.

Anyway, a great read.

[stylofone]

I bought this book last weekend and finished it last night and it's a required reading review from me.

https://www.booktopia.com.au/what-is-an ... 62765.html

What I found so useful was the way Kundnani exposes the racist qualities of the neoliberal project, which often leads with the bullshit that markets are 'color blind.' No they're not. Some great research around colonialism, and the neocolonialism that we all live with, and a fascinating discussion on Frantz Fanon's idea that Nazism and European fascism generally was a replication of the practices and mentality of colonialism brought back to Europe.

Some great analysis of the difference between the liberal understanding of racism, which is founded on individual prejudices, and the far more iniquitous, and less visible structural racism that pervades our political institutions and our globalised economic 'order,' especially in relation to neoliberalism.

The central claim is that racism isn't just something that capitalists have exploited, the very concept of race itself was in fact invented by capitalism in order to justify the theft of resources and exploit cheap labor.

Anyway, a great read.

It reminds me of the "progressive no" referendum argument, that the Voice is inadequate. The Yes campaign is built on that view of individual self-cleansing, a way of saying "I am not a racist". But if The Voice doesn't work as it's supposed to, then the structures of racism remain. In fact the Yes campaign has been forced to play down the practical potential of the Voice, emphasising that it can only advise, that the Government still makes the laws.

Having said that, as a creation arising from the Uluru statement, I think support for the Voice is a must and I don't accept the "progressive no" argument. Also the Yes side sees the Voice as a starting point, not a magic wand.

But we probably won't even get to that point. Sigh

[pipbarber]

In the light of Kundnani's book, i see the voice as a step toward ending colonisation, which is a pathetic step to be trying to make in 2023, but one we absolutely must take. Ending neo-colonial capitalism is impossible because it's impenetrable and global, but it's also destroying itself by compromising the necessary geo-physical conditions to sustain life.

The 'yes' campaign is definitely based on a liberal view of racism, but it would never get anywhere if it attempted to address the structural racism of the entire system. Can you imagine how far it would get if it openly stated that we want a first nations voice to parliament and also an immediate end to capitalism? Lol, Andrew Bolt's head would explode.

It's ok that the voice is attempting to deal with liberal racism, because that is still one of our big problems, disgustingly.

[pipbarber]

https://www.theguardian.com/australia-n ... hare-price

$5 billion profit in 6 months! Just short of their record half yearly profit, which happened last year. Fully franked dividends of course. These really are the best of times, it's never been this easy to make money.

Fuck capitalism.

[stylofone]

https://www.theguardian.com/australia-n ... hare-price

$5 billion profit in 6 months! Just short of their record half yearly profit, which happened last year. Fully franked dividends of course. These really are the best of times, it's never been this easy to make money.

Fuck capitalism.

We have Ukraine, Gaza, the Houthis in the Red Sea, inflation still burning, a cost of living crisis, homelessness etc.... and yet markets are pushing through all-time highs. Capitalism seems to be getting better at insulating itself from bad shit. Basically people who are left poor and homeless by the workings of the economy are just reclassified as not being part of the economy any more. It's like the unemployment figures. If you stop LOOKING for a job, you don't count. So we could end up with 5, 10, 20 or 90 per cent unemployment, or we could have horrendous homelessness and poverty, but the ECONOMY can be going brilliantly because we only count the successful people.

My other observation is that the Clinton era manta "it's the economy, stupid" still seems to be in play for the deranged androids of the US Democratic party. Supposedly Biden's economy is gong really well, but I have a feeling "going well" applies to a shrinking section of the population compared to 1992 when that mantra was new.

[pipbarber]

What our current situation reminds me of is what i imagine pre-domocratic Europe looked like. Competing monarchies supported by their respective aristocracies have simply been replaced by competing corporations supported by their respective governments, but globalised. The mass of people live in subservience, various levels of poverty and total powerlessness. The Bastille urgently needs a visit. And yet we are so confused as a collective, we'd probably storm the local food co-op for being too woke, January 6 style. Gawd.

[stylofone]

What our current situation reminds me of is what i imagine pre-domocratic Europe looked like. Competing monarchies supported by their repective aristocracies have simply been replaced by competing corporations supported by their respective governments, but globalised. The mass of people live in subservience, various levels of poverty and total powerlessness. The Bastille urgently needs a visit. And yet we are so confused as a collective, we'd probably storm the local food co-op for being too woke, January 6 style. Gawd.

Hmmm, the Bastille concept, I've dreamed of it too. It is like a parachute. but somehow the monarchies/aristorcarices/corporations have changed the instructions. You were supposed to to pull the ripcord 1000 metres from the ground, but we're long passed that.

Even if we weren't confused, if there was an uprising, what would we storm? Look at the Arab Spring. The autocrats, tyrants and military juntas sidestepped that uprising adeptly. You could have millions on the streets of Chicago, NY and LA in 2025 as part of the resistance to a new Trump regime, and the markets would still be flying high because it's all priced in.

[Irrev-Black]

@stylofone - One of the things that's going to have to break before the richprickarchy topples is money, especially the large-amount notional stuff that stock exchanges etc deal in.

And yes, that would involve considerable hardship for many people, most of them less guilty than the knobs at the penthouse end.

[Irrev-Black]

There are things I just don't understand, like why it's acceptable for Amazon warehouse workers to have to wear diapers because they aren't allowed toilet breaks, so that Bezos fellow can throw a few more kilobucks into Money Bin 137,582, or why Oz kids don't get dental care and that Rinehart woman gets exponentially richer.