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Εγχειρίδιο χειρισμού κρίσεων λόγω πολιτικών ΔΝΤ από τη CIA! / Already confirmed: Civil liberties under attack! / Greece's creditors gone completely insane! / How the global financial mafia sucked Greece's blood / ECB's economic hitmen / Η Μέρκελ επιβεβαιώνει τα σχέδια των γραφειοφασιστών! /Greece: the low-noise collapse of an entire country/ How the neoliberal establishment tricked the masses again, this time in France / Ενώ η Γερμανία προετοιμάζεται για τα χειρότερα, η Ελλάδα επιμένει στο ευρώ! / Ένας παγκόσμιος "proxy" πόλεμος κατά της ελευθερίας έχει ξεκινήσει! / McCarthyism 2.0 against the independent information / Ο επικεφαλής του "σκιώδους συμβουλίου" της ΕΚΤ επιβεβαιώνει ότι η ευρωζώνη είναι μια χρηματοπιστωτική δικτατορία! / Venezuela case as an emphatic example of why the mainstream media propaganda in the West was so successful in previous decades / Δημοψήφισμα για Grexit: η τελευταία ευκαιρία να σωθεί η Ελλάδα και η τιμή της Αριστεράς / Populism as the new cliche of the elites to stigmatize anyone not aligned with the establishment / Δεν γίνεται έτσι "σύντροφοι" ... / Panama Papers: When mainstream information wears the anti-establishment mask / The Secret Bank Bailout / The head of the ECB “shadow council” confirms that eurozone is a financial dictatorship! / A documentary by Paul Mason about the financial coup in Greece / The ruthless neo-colonialists of 21st century / First cracks to the establishment by the American people / Clinton emails - The race of the Western neo-colonialist vultures over the Libyan corpse / Επιχείρηση Panama Papers: Το κατεστημένο θέλει το μονοπώλιο και στις διαρροές; / Operation "looting of Greece" reaches final stage / Varoufakis describes how Merkel sacrificed Greece to save the Franco-German banks / France officialy enters the neo-Feudal era! / The US establishment just gave its greatest performance so far ... / A significant revelation by WikiLeaks that the media almost ignored / It's official: the US is funding Middle-East jihadists! / Οι αδίστακτοι νεο-αποικιοκράτες του 21ου αιώνα / How to handle political unrest caused by IMF policies! / Πώς το νεοφιλελεύθερο κατεστημένο ξεγέλασε τις μάζες, αυτή τη φορά στη Γαλλία / Οι Γάλλοι νεοαποικιοκράτες επιστρέφουν στην Ελλάδα υπό 'ιδανικές' συνθήκες

08 September, 2017

After Neoliberalism, what next?

The crisis consists precisely in the fact that the old is dying and the new cannot be born; in this interregnum a great variety of morbid symptoms appear. (Antonio Gramsci)

by Jayati Ghosh

Part 8 - New Demand and Production

This requires new patterns of demand and production. It is why the present focus on developing new means of measuring genuine progress, well-being and quality of life are so important. Quantitative GDP growth targets, which still dominate the thinking of policy-makers, are not simply distracting from these more important goals but can be counterproductive.

For example, a chaotic, polluting and unpleasant system of privatised urban transport involving many vehicles and over-congested roads generates more GDP than a safe, efficient and affordable system of public transport that reduces congestion and provides a pleasant living and working environment.

It is not enough to talk about ‘cleaner, greener technologies’ to produce goods that are based on the old and now discredited pattern of consumption. Instead, we must think creatively about consumption itself, and work out which goods and services are more necessary and desirable for our societies.

This cannot be left to market forces, since the international demonstration effect and the power of advertising will continue to create undesirable wants and unsustainable consumption and production.

But public intervention in the market cannot be knee-jerk responses to constantly changing short-term conditions. Instead, planning – not in the sense of the detailed planning that destroyed the reputation of command regimes, but strategic thinking about the social requirements and goals for the future – is absolutely essential. Fiscal and monetary policies, as well as other forms of intervention, will have to be used to redirect consumption and production towards these social goals, to bring about such shifts in socially-created aspirations and material wants, and to reorganise economic life to be less rapacious and more sustainable.

Since state involvement in economic activity is now an imperative, we should be thinking of ways to make involvement more democratic and accountable within our countries and internationally. Large amounts of public money will be used for financial bailouts and to provide fiscal stimuli. How this is done will have huge implications for distribution, access to resources and living conditions of the ordinary people whose taxes will be paying for this.

So it is essential that we design the global economic architecture to function more democratically. And it is even more important that states across the world, when formulating and implementing economic policies, are more open and responsive to the needs of the majority of their citizens.

Source, links:


[1] [2] [3] [4] [5] [6] [7] [9]

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