Tell me and I forget. Teach me and I remember. Involve me and I learn. Benjamin Franklin

Tuesday, January 14, 2014

Europe's left has seen how capitalism can bite back

Social democrats wrongly thought the reforms they won were won for good. In Greece, the lesson has been learned by Syriza  
 
By    Leo Panitch            

The Guardian, Sunday 12 January 2014

For most of the 20th century, the word "reform" was commonly associated with securing state protections against the chaotic effects of capitalist market competition. Today, it is most commonly used to refer to the undoing of those protections.
This is not merely a matter of the appropriation of the term by those in the EU and international lending agencies who are using it as code for demands that Greece, for instance, make further cuts in public sector jobs and services. It is also the way the word has become increasingly used by the parties of the centre left. Thus, the newly elected leader of Italy's Democratic party (the successor to what was western Europe's largest communist party), Matteo Renzi, has called for the government to be even more determined in implementing its economic reform package. The package involves reducing public expenditure and changing regulations to make labour markets more flexible and attract foreign investment.

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