Blakely delivers a scathing, thorough and very readable account of why the move to 'financialisation' - that is, a vast portion of economic growth has moved to the finance sector rather than the manufacturing or service. As she puts it; the majority of wealth is in the hands of those who make their money from the money they have, rather than those who work for a living. Decades of regulation encouraging this behaviour, along with the selling off of public services and the financialisaton of public life has lead directly to the crash of 2007, austerity and the continuing economic uncertainty that has seen the driving down of wages in real terms.
Over each section Blakely lays out the history of how we got here with clarity - the Bretton Woods accord, the post war consensus, and the breaking of this with financial deregulation in the 70s and 80s - and the complete red in tooth and claw free for all since the end of the cold war. I've seen a few negative reviews where it has been said that the author "doesn't understand economics" which is patently untrue; she has a very through grasp of economic theory, and recognises that it is far from being the clear-cut science that many pretend, that it relies on assumptions in prejudices and and understanding that humans are not the 'rational actors' portrayed by classical economics.
Blakely very much wears her own bias on her sleeve - as well as lambasting right -wing economics she calls for socialist policies - but also criticises Keynes and Piketty where she feels they deserve it, while drawing on their good ideas.
After all this, however, I confess I struggled with the final chapter, on how we fix the situation. Partly, the author loses some of the readability in laying out her vision for the future; suddenly there is less verve and clarity, and it begins to read more like an academic paper. The other problem, though, is that she doesn't shy away from how huge a change needs to be made; it's not just the relatively minor legislation that a government can enact, but root and branch change not just on the level of that undertaken by the post-war Atlee government, but the far greater changes they proposed but were forced to back down from. Blakely also recognises that the forces of international capital would fight these changes before, during and after they were enacted. Frankly, the scale and difficulty of the changes she suggests are beyond daunting, but that doesn’t detract from their veracity.
Grace Blakely has given a vital critique of what many call late-stage capitalism, pointing out just how destructive it is, in so many ways, as well as a potential way forward, This book should be on every radical reading list, beside Naomi Klein and Barbara Ehrenreich and Rutger Bregman - and, if you’re wanting more optimism, The Spirit Level and The Optimist’s Guide to the Future.
( first published at https://www.goodreads.com/book/show/48201027-stolen )
Showing posts with label socialism. Show all posts
Showing posts with label socialism. Show all posts
Monday, 21 October 2019
Sunday, 23 December 2018
An open letter to Jeremy Corbyn
Dear Mr Corbyn
I have always been a socialist, and have almost always voted Labour ( the exceptions being voting tactically in an area Labour could not win, and in some local elections ), but I only became a Labour party member to support your candidacy. I, along with so many others, saw you as someone who would return Labour to its correct place, to fight for a fairer society and for the majority of British people who have not been represented in politics in recent decades, and in your promise to return to being a party led by the will of its members.
And you have fought for these things. You have shown Labour to be a strong, radical, socialist alternative. You have withstood attacks from the right wing of your own party and the constant denigration by the British media, and I have been proud to be one of your supporters. However, your recent comment on Brexit is not only a failure of your party membership, but a betrayal of us.
The vast majority of the Labour membership - 86% of us - are in favour of a referendum on details of the withdrawal agreement and that one of the options should be to remain in the EU. Many have been pinning our hopes to end this self immolation on Labour, so to be told by the leader that Brexit would still go ahead under a Labour victory in a snap general election is the most shocking betrayal.
Mr Corbyn, one of your greatest features is the strength of your convictions, and I understand that the history of the British left has not alway been easy with the EU - seeing it, not always wrongly, as a neo-liberal capitalist mission. This has been, and is, one aspect of the whole, but it is at tension with others; human rights, social progress, regulation of the excesses of corporate power. The EU comprises the most progressive nations on the planet as members - Sweden, Finland, Belgium, the Netherlands, Germany - or close associates, such as Norway. All these countries and more are far to the left of where the UK has been for decade, and should be models we emulate, so to pretend the club of which they are members and, indeed, run is some capitalist conspiracy is ludicrous. The EU is project is an active entity, shaped by and shaping the members and a socialist-lead UK should be part of that.
There is the argument that Labour represents many areas that voted Leave, so is beholden to its constituents. On the face of it this is a sound argument - we are an representative democracy whose politicians are elected to conduct the will of the people. However, leaders must also lead. It is often a fine balance - to serve but also educate and inform. In this instance, this is nothing but an excuse and rank cowardice. It is clear that, not only were the British people misled and lied to, but that there is no possible outcome of leaving the EU that does not render vast swathes of the country much, much worse off - and those working-class, under-privileged, poor communities that so often voted leave will be and are being hit hardest of all. It is the duty of those who represent these communities - as so many of the Labour MPs are doing - to talk honestly to their electors about the position in which we find ourselves and what the immediate decisions for our future, and that of our children and grandchildren.
Brexit is the most immediate threat to this country’s well being and prosperity. Mr Corbyn, as leader of the opposition, as leader of the party that should represent those most at risk, you should about face on your attitude. For the members of your party and for the good of your country, you should - you MUST - state that you will fight Brexit until there is no other choice. How can 86% of your own party support you otherwise?
I have always been a socialist, and have almost always voted Labour ( the exceptions being voting tactically in an area Labour could not win, and in some local elections ), but I only became a Labour party member to support your candidacy. I, along with so many others, saw you as someone who would return Labour to its correct place, to fight for a fairer society and for the majority of British people who have not been represented in politics in recent decades, and in your promise to return to being a party led by the will of its members.
And you have fought for these things. You have shown Labour to be a strong, radical, socialist alternative. You have withstood attacks from the right wing of your own party and the constant denigration by the British media, and I have been proud to be one of your supporters. However, your recent comment on Brexit is not only a failure of your party membership, but a betrayal of us.
The vast majority of the Labour membership - 86% of us - are in favour of a referendum on details of the withdrawal agreement and that one of the options should be to remain in the EU. Many have been pinning our hopes to end this self immolation on Labour, so to be told by the leader that Brexit would still go ahead under a Labour victory in a snap general election is the most shocking betrayal.
Mr Corbyn, one of your greatest features is the strength of your convictions, and I understand that the history of the British left has not alway been easy with the EU - seeing it, not always wrongly, as a neo-liberal capitalist mission. This has been, and is, one aspect of the whole, but it is at tension with others; human rights, social progress, regulation of the excesses of corporate power. The EU comprises the most progressive nations on the planet as members - Sweden, Finland, Belgium, the Netherlands, Germany - or close associates, such as Norway. All these countries and more are far to the left of where the UK has been for decade, and should be models we emulate, so to pretend the club of which they are members and, indeed, run is some capitalist conspiracy is ludicrous. The EU is project is an active entity, shaped by and shaping the members and a socialist-lead UK should be part of that.
There is the argument that Labour represents many areas that voted Leave, so is beholden to its constituents. On the face of it this is a sound argument - we are an representative democracy whose politicians are elected to conduct the will of the people. However, leaders must also lead. It is often a fine balance - to serve but also educate and inform. In this instance, this is nothing but an excuse and rank cowardice. It is clear that, not only were the British people misled and lied to, but that there is no possible outcome of leaving the EU that does not render vast swathes of the country much, much worse off - and those working-class, under-privileged, poor communities that so often voted leave will be and are being hit hardest of all. It is the duty of those who represent these communities - as so many of the Labour MPs are doing - to talk honestly to their electors about the position in which we find ourselves and what the immediate decisions for our future, and that of our children and grandchildren.
Brexit is the most immediate threat to this country’s well being and prosperity. Mr Corbyn, as leader of the opposition, as leader of the party that should represent those most at risk, you should about face on your attitude. For the members of your party and for the good of your country, you should - you MUST - state that you will fight Brexit until there is no other choice. How can 86% of your own party support you otherwise?
Wednesday, 12 September 2018
A belated political awakening
I’ve never been someone who goes to political meetings much less speaks at them or takes part in political activism. I’ve always considered myself a socialist and an internationalist, but I’ve kept my activity to voting in elections and discussions, online or in person. I’ve assumed that the march of history is in the right direction and trusted in this progress.
Frankly, I’ve been a lazy bastard. The progress of history has only been in the right direction when people have worked for it, and there are always forces of conservatism that want to halt and reverse this progress. This evening I took the mic at a Left Against Brexit meeting and said so.
In the run-up to the referendum I was complacent. I couldn’t believe that people could possibly back the likes of Nigel Farage and Boris Johnson, could possibly believe the transparent lies blazoned across the sides of busses, and vote against what was clearly against their best interests. In my runs and walks around Sheffield the Remain posters I’d seen in windows had far outnumbered those that called for Leave.
I thought that it was enough to just vote, and the result was like a punch in the gut. I don’t think I’d felt such pain from an election result since John Major’s victory, when we had felt so certain of a Labour win, and I had never felt so estranged from my fellow citizens.
The past two years have been hard. It has felt as though we have lost our country, which is somewhat ironic. It has felt as though so much of the progress we were making has been lost. Corbyn’s election as Labour leader on the back of the Momentum surge, pulling the party back to where it should be, representing this country’s working people and poor and disenfranchised rather than being soe Tory-light pretending that market forces and public private partnerships can improve things, has begun to feel hollow. The Labour leadership’s position of not fighting against Brexit, and Corbyn’s own disinterest in leading on this particular issue have been galling.
So I have become someone who attends political events and speaks at them when I have something to say. I have vowed and signed up to take part in activism to shape the world into how I think it should be for the benefit of the many. I dearly hope it is not too late to stop the utter disaster that any form of Brexit will surely be - that I have not left it too late to help. And, even if I can’t if the worst no-deal barely-better-than-Armageddon Brexit - or if we reverse this insanity and pull back from the brink - there will be more fighting to do.
Lazy bastards of the world unite; you have nothing to lose but your sense of desperate helplessness.
Frankly, I’ve been a lazy bastard. The progress of history has only been in the right direction when people have worked for it, and there are always forces of conservatism that want to halt and reverse this progress. This evening I took the mic at a Left Against Brexit meeting and said so.
In the run-up to the referendum I was complacent. I couldn’t believe that people could possibly back the likes of Nigel Farage and Boris Johnson, could possibly believe the transparent lies blazoned across the sides of busses, and vote against what was clearly against their best interests. In my runs and walks around Sheffield the Remain posters I’d seen in windows had far outnumbered those that called for Leave.
I thought that it was enough to just vote, and the result was like a punch in the gut. I don’t think I’d felt such pain from an election result since John Major’s victory, when we had felt so certain of a Labour win, and I had never felt so estranged from my fellow citizens.
The past two years have been hard. It has felt as though we have lost our country, which is somewhat ironic. It has felt as though so much of the progress we were making has been lost. Corbyn’s election as Labour leader on the back of the Momentum surge, pulling the party back to where it should be, representing this country’s working people and poor and disenfranchised rather than being soe Tory-light pretending that market forces and public private partnerships can improve things, has begun to feel hollow. The Labour leadership’s position of not fighting against Brexit, and Corbyn’s own disinterest in leading on this particular issue have been galling.
So I have become someone who attends political events and speaks at them when I have something to say. I have vowed and signed up to take part in activism to shape the world into how I think it should be for the benefit of the many. I dearly hope it is not too late to stop the utter disaster that any form of Brexit will surely be - that I have not left it too late to help. And, even if I can’t if the worst no-deal barely-better-than-Armageddon Brexit - or if we reverse this insanity and pull back from the brink - there will be more fighting to do.
Lazy bastards of the world unite; you have nothing to lose but your sense of desperate helplessness.
Wednesday, 29 June 2016
Death Spiral UK
If the Labour implosion has achieved anything, it is that it has raised me from despair to fury. I’ve seen interviews with a succession of Labour MPs, grandees and apologists (some of whom are Tory party members, fercrissakes!) saying that Corbyn should step down, but it is the reasoning that is really making my blood boil.
I have heard people opine that he has been a leader with no direction, and no policies, and done nothing to show opposition to the government - and then watched a clip of today in Parliament where, as usual, Cameron did nothing but hurl personal insults and Corbyn shrugged them off with dignity, and attacked the PM on policy, pushing his consistent agenda of an alternative to the destructive austerity measures. Just like he has done day after day, week after week, since he became leader.
The other argument sounds more convincing at first hearing; that, while Corbyn may have a massive mandate for leadership from Labour party members, the MPs who are opposing him have a bigger one - but this is utterly false. Yes, MPs WERE elected by the votes of the electorate, but as representatives of the Labour party. This may have been where there was a real race between getting a Labour MP or a Tory or SNP or (possibly) a LibDem or, as in the constituency in which I live, where Labour are going to win and it is a question of how much by. The difference is in that those of us who voted for Corbyn as Leader were trying to shape the focus and direction and future of the Labour party, to turn it once again into a political party that represents the majority, that represents the greater good of society and fights for inclusiveness and justice and pulling everyone up together, rather than the spineless Tory Lite that the party has become. Yes, many of us would vote for the the Greens or the Socialist Workers party if we weren’t stuck with this stupid electoral system, but we are so we need to try to (re)shape the main party closest to our views back into something that represents us.
So instead of taking stock of where we are after the referendum, seeing if anything can be done about the result and deciding on how best to proceed if not, the Blairite wing of the Parliamentary Labour Party took the opportunity to stage a coup, and much of the rest of the PLP followed suit; I don’t know what was going through Tom Watson’s mind, but I am particularly disgusted with him. Corbyn has said he will not step down, and he has shown himself to be a man of his word. However, I for one would not blame him if he caved to what must be intolerable pressure, threw up his hands, and said “FUCK THE LOT OF YOU!” If it comes to another Labour leadership election I shall be voting Jeremy Corbyn. If he doesn't stand, or is ousted, I am frankly cancelling my membership and, I am sorry to say, I am done with the Labour party for good.
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