VLOG: The Breakdown of the State

“Like the crash of 1929 led to the Great Depression, the global financial crisis of 2008 was rooted in long-term, systemic problems. […] But the crash was precipitated by the politics of Neoliberalism.” – John B. Judis writing in “The Populist Explosion: How the Great Recession Transformed American and European Politics”

According to Judis, “Neoliberalism is defined by financial deregulation, trade and investment policies that led to unwieldy dollar surpluses in the hands of China (and other Asian states), as well as lax tax policies and anti-union business practices that widened inequality and led to the need to prop up consumer demand through the accumulation of debt.”


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