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Neoliberalism

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Addicted to Failure. Neoliberalism foists on career-minded millennials; a self-relation which resembles that of alcoholics in the throes of addiction A friend of mine is in a program now, and she’s doing much better.

Addicted to Failure

Underearners Anonymous (UA), a 12-step program founded in New York City in 2006, is a program for people who have trouble pursuing their personal “vision,” a term which appears seven times in the brief “About UA” pamphlet. In one sense, “underearning” is simply what its name implies: an “inability to provide for one’s needs.” But it’s not just about earning a higher salary. It is also about “underachieving, or under-being, no matter how much money we make.” Patterned after Alcoholics Anonymous (AA), the original 12-step program, UA may be thought of as a protocol for personal change.

This paradox becomes even more pronounced under the conditions of freedom and flexibility characteristic of late 20th- and early 21st-century capitalism. Neoliberalism Is a Political Project. Our new issue, “Rank and File,” will be out August 8.

Neoliberalism Is a Political Project

To celebrate its release, new subscriptions are discounted. Eleven years ago, David Harvey published A Brief History of Neoliberalism, now one of the most cited books on the subject. The years since have seen new economic and financial crises, but also of new waves of resistance, which themselves often target “neoliberalism” in their critique of contemporary society. Cornel West speaks of the Black Lives Matter movement as “an indictment of neoliberal power”; the late Hugo Chávez called neoliberalism a “path to hell”; and labor leaders are increasingly using the term to describe the larger environment in which workplace struggles occur.

The mainstream press has also picked up the term, if only to argue that neoliberalism doesn’t actually exist. But what, exactly, are we talking about when we talk about neoliberalism? Neoliberalism is a widely used term today. Misremembering Keynes. Our new issue, “Between the Risings,” is out now.

Misremembering Keynes

To celebrate its release, international subscriptions are $25 off, and limited prints of our Easter 1916 cover are available. The Bretton Woods system of managed currencies and fixed exchange rates began at a 1936 meeting of the Allied powers. The immediate impetus for the gathering was geopolitical: Germany’s new Luftwaffe and its invasion of the Rhineland augured war, and goldbugs — whether they knew it or not — needed France’s government to stand. So Roosevelt convened his allies, hoping to convince the British government to let Leon Blum’s newly elected socialist government devalue the franc. The storied meeting’s long-term outcome is better known: the Tripartite Agreement to intervene in currency markets laid the groundwork for the Bretton Woods conference, and the new era of global economic governance that would persist until 1973. Behind Closed Doors Rauchway’s interest in office intrigue yields some real historical gems.

The Origins of the Puerto Rican Debt Crisis. This year marks a decade of economic contraction in Puerto Rico.

The Origins of the Puerto Rican Debt Crisis

The causes of the downturn in an economy once seen as a successful model are varied and complex. Can We Criticize Foucault? Since his death in 1984, Michel Foucault’s work has become a touchstone for the academic left worldwide.

Can We Criticize Foucault?

But in a provocative new book published in Belgium last month, a team of scholars led by sociologist Daniel Zamora raises probing questions about Foucault’s relationship with the neoliberal revolution that was just getting started in his last years. In an interview this month with the new French journal Ballast, Zamora discusses the book’s fascinating findings and what they mean for radical thought today. Below is the text of the interview, translated from French by Seth Ackerman. In his book Foucault, Sa Pensée, Sa Personne, Foucault’s friend Paul Veyne writes that he was unclassifiable, politically and philosophically: “He believed in neither Marx nor Freud, nor in the Revolution nor in Mao, in private he snickered at fine progressive sentiments, and I knew of no principled position of his on the vast problems of the Third World, consumerism, capitalism, American imperialism.”

The Truth About Finance. Hillary Clinton says she’s cracking down on Wall Street.

The Truth About Finance

She argues that her new financial reform plan will curb speculation and push back against “the tyranny of short-termism.” It’s a move designed to establish her progressive bona fides and assuage a public increasingly angry at the free ride finance enjoys. Yet far from reducing the power of the financial sector, Clinton’s proposal — which includes a tax on high-frequency trading, promises prosecution for the most egregious Wall Street lawbreakers, and seeks to enhance the independence of key regulatory bodies — seems deliberately crafted to consolidate the hegemony of the financial institutions that dominate the world economy.

Fellow Democratic presidential contenders Bernie Sanders and Martin O’Malley both criticize her plan as inadequate, but neither candidate has tackled the flawed assumptions on which the proposal rests. Yet are these axioms true? Protecting Markets Finance and Globalization Class Power and Political Reform. Unions, Big Business & the Powell Memo.