Showing posts with label book review. Show all posts
Showing posts with label book review. Show all posts

Sunday, November 18, 2018

Keynesian Economics- What Happened to Greece ?

What is happening in the U.S.?

Time for Another Reinvention 

Socialist parties emerged as dynamic, powerful forces at the turn of the twentieth century. After decades of decline, can they revive themselves in the twenty-first?
Former Greek Finance Minister Yanis Varoufakis speaks at the Brookings Institution. (Steve Purcell / Flickr) 
Leftism Reinvented: Western Parties from Socialism to Neoliberalism
by Stephanie L. Mudge
Harvard University Press, 2018, 524 pp.
 
To understand the obstacles facing the left today, we can start with Yanis Varoufakis’s ill-starred turn as Greece’s Finance Minister. Varoufakis came to office with one overriding ambition: to free Greece from the austerity regime imposed by the European Community and the International Monetary Fund. His argument was straightforward. Greece needed substantial relief from a debt burden that could not possibly be repaid, and austerity made a return to economic growth impossible.
Varoufakis used traditional Keynesian arguments to offer his European interlocutors a win-win solution that would make possible renewed growth in Greece and eventual repayment of Greece’s pared-down foreign debt. Europe’s leaders would have none of it. Even social democratic ministers turned away, praising him for his cleverness, then joining with their more conservative counterparts to force neoliberal solutions on Greece. How did Keynesianism become utopian? How did social democrats learn to speak the language of neoliberalism? How, in short, did we get here?
These are the questions that Stephanie Mudge (a colleague of mine at U.C. Davis) seeks to answer in her challenging new book, Leftism Reinvented: Western Parties from Socialism to Neoliberalism. Mudge transverses more than a century of European socialism to offer a persuasive and powerful explanation for the rise of what she terms “neoliberalized leftism” in both Europe and the United States. Along the way, she lays down a series of markers for other academics. First, she is working to revive serious analyses of political parties, treating them not simply as puppets in the hands of activists and donors but as sites where experts and intellectuals build coalitions that shape policy outcomes. It is imperative to look at who has been recruited by these parties to write the party platforms and formulate their economic programs. Second, she is trying to build a bridge between the social sciences and history by making individual biographies central to her narrative. She is here reacting against the bias towards structural analysis in sociology and political science, where all too often a focus on institutions renders individual people invisible.
The result is the kind of big book that has become increasingly rare in these times of tightly focused academic monographs. Drawing from history, sociology, political science, and political economy, Mudge has produced an account that transforms our understanding of how European and American left parties changed over the twentieth century and raises important questions about how the left must reinvent itself in the twenty-first.

Saturday, November 8, 2014

This Changes Everything

A review of the book that I discussed in class.


Photo
Naomi Klein CreditSuzanne DeChillo/The New York Times 
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“Every inhabitant of this planet must contemplate the day when this planet may no longer be habitable.” Thus spoke President Kennedy in a 1961 address to the United Nations. The threat he warned of was not climate chaos — barely a blip on anybody’s radar at the time — but the hydrogen bomb. The nuclear threat had a volatile urgency and visual clarity that the sprawling, hydra-headed menace of today’s climate calamity cannot match. How can we rouse citizens and governments to act for concerted change? Will it take, as Naomi Klein insists, nothing less than a Marshall Plan for Earth?
“This Changes Everything: Capitalism vs. the Climate” is a book of such ambition and consequence that it is almost unreviewable. Klein’s fans will recognize her method from her prior books, “No Logo: Taking Aim at the Brand Bullies” (1999) and “The Shock Doctrine: The Rise of Disaster Capitalism” (2007), which, with her latest, form an antiglobalization trilogy. Her strategy is to take a scourge — brand-­driven hyperconsumption, corporate exploitation of disaster-struck communities, or “the fiction of perpetual growth on a finite planet” — trace its origins, then chart a course of liberation. In each book she arrives at some semihopeful place, where activists are reaffirming embattled civic values.
To call “This Changes Everything” environmental is to limit Klein’s considerable agenda. “There is still time to avoid catastrophic warming,” she contends, “but not within the rules of capitalism as they are currently constructed. Which is surely the best argument there has ever been for changing those rules.” On the green left, many share Klein’s sentiments. George Monbiot, a columnist for The Guardian, recently lamented that even though “the claims of market fundamentalism have been disproven as dramatically as those of state communism, somehow this zombie ideology staggers on.” Klein, Monbiot and Bill McKibben all insist that we cannot avert the ecological disaster that confronts us without loosening the grip of that superannuated zombie ideology.