The Dictatorship of the Markets

Posted: February 9, 2013 in politics, Uncategorized
Tags: , , ,

 

Here’s an article from the blog of the author Charlie Stross on the erosion of democracy in today’s world:

http://www.antipope.org/charlie/blog-static/2013/02/political-failure-modes-and-th.html

To which I will add:

 

There’s another issue here as well. In Ireland under the Troika every
economic decision must be approved by a bunch of unelected bankers
whose only virtue is that they control enough money to blackmail us.
They will withdraw their loans and collapse our economy if we don’t do
exactly what they say. They are euphemisticaly known as the “bailout
Troika”.

But even before the EU-IMF deal, it was absolutely vital that every
policy be agreeable to unelected people who sit on huge piles of cash,
ephemisitcally known as “the markets”. They can bet against the
currecy and withdraw investment from any country that takes any
measure against the bosses and in favour of the people.

Appeasing the rich and powerful makes the problem worse. Acting
against them opens up a struggle of a revolutionary nature.

This is why there’s no ground today for old-school reformism and
Keynesianism to stand on.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s