Stirring. Definitely "new meme" material.
Bill Mitchell – billy blog
Neo-liberalism – the antithesis to democracy
Bill Mitchell
As I've been saying capitalism based on market fundamentalism and direct or participatory democracy are antithetical. It's just not possible to privilege capital and treat workers, who comprise the majority of the population, as commodities and have a functioning popular democracy.
What we have instead is the representative democracy of democratic republics in which voters get to vote for cronies of elites that fund candidates and their campaigns. The socio-economic result is not the utilitarianism of the Benthamite calculus that market fundamentalism is supposed to produce automatically, but rather state capture through legalized bribery and institutionalized rent extraction as a "tax" that goes into the pockets of the privileged ruling class.
1 comment:
I think Ha Joon Chang's article, "Watch Out, George Osborne, Smith, Marx, and even the IMF are After You" of the Guardian (http://www.guardian.co.uk/commentisfree/2013/may/08/osborne-marx-imf-austerity-democracy) that Bill links to in text is also worth a mention.
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