I have just received my copy of Perry Anderson‘s The New Old World and I look forward to this week-end read. The book is the subject of a symposium in the last issue of the New Left Review (NLR73). After reading the four articles in the review I felt a compulsion to read the book. The Union’s current crisis – and its monetary collateral – is the most significant issue for Europe, understood to include both Union’s members and non-members, such as Turkey. Of course there are other issues of at least equal importance, such the Arab counter-revolution, or the continuing saga of capital markets vs democratically elected governments. All of those are essentially components of what Wolfgang Streeck described as “The Crisis of Democratic Capitalism” in NLR 71.
The Markets vs Voters question has of course been typified by developments in Greece and Italy, where elected administrations – however fragile or controversial – have been displaced by decree by the massed ranks of the European Central Bank, the IMF and the (unelected) European Commission, under active supervision from the Federal Government of Germany. Those developments fall clearly within Streeck’s definition of “democratic capitalism” as “a political economy ruled by two conflicting principles, or regimes, of resource allocation: one operating according to marginal productivity, or what is revealed as merit by a “free play of market forces”, and the other based on social needs or entitlement, as certified by the collective choices of democratic politics.”
A writer in the symposium, Alain Supiot in Under Eastern Eyes, comments that “it was not until the fall of Communism that ultra-liberal ideology, despite its political successes in the US and UK and its adoption by international financial institutions, began to have a significant impact on the social systems of solidarity established after the War in Western Europe”. Supiot blames a “revolt of the elites” for the damage, and particularly for the ascent of the “communist market economy”. According to this interpreattion “the elites of all countries can now get astronomically rich – which was impossible under communism – without a thought for the fate of the middle and working classes, which was impossible under the political or social democracy of welfare states.”
Jan-Werner Müller – in Beyond Militant Democracy – disagrees, pointing out that “rather than contrasting those glory days (the 30-year “golden-age” of post-war capitalism) with our (supposed) sordid post-democratic condition, we ought to understand that European elites in the late 1940s and 1950s opted for a highly restrictive understanding of democracy – and that the EU, from the start, operated on this basis.”
A Final Victory
I was very moved by reading Jennifer A. Homans’ account of her husband Tony Judt’s last days in the NYRB. I will read Thinking the Twentieth Century. There are several reasons, all personal rather than intellectual, first Tony and I were of the same generation, and I shared his understanding of the issues of the post-war period (our half century), Palestine, Europe, growing social inequity, Europe, the rise of Hayekian tyrannies… Second, I do not share the views of writers such as Dylan Riley (A Cooler Look) as far as their “assessment” of Tony’s work and intellectual courage is concerned.
To Write or Not to Write
I have to admit that fictional endeavours, as well as other social activities, such as marriage, have kept me away from this “travel and political” blog. However this is Spring, and I will renew with this corner of my garden. For those readers so inclined my writing blog is here.
- Thinking the Twentieth Century by Tony Judt (timesflowstemmed.com)
- Thinking the Twentieth Century by Tony Judt – Review (dinmerican.wordpress.com)
- Thinking the Twentieth Century by Tony Judt with Timothy Snyder: review (telegraph.co.uk)