Category: economics

23 Sep

25 Comments

The modern crisis of Australian Laborism (Part 2)

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What happens now?

By MARC NEWMAN This article continues the analysis of Labor’s crisis — especially in terms of its meaning for trade unions and social movements — begun here. Despite the defeat of the ALP, the election was not a crushing victory for the conservatives. Fewer seats fell than expected, and some of the LNP gains in the lower [...]

18 Sep

15 Comments

The modern crisis of Australian Laborism (Part 1)

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Hawke Keating colour

In the first of two posts on the modern crisis of Australian Laborism, MARC NEWMAN looks at the roots of the ALP’s problems in its embrace of neoliberalism in the 1980s. *** Labor’s voter base remained stable for the bulk of the 20th century, through numerous changes in political circumstances. It only dipped below a 40 [...]

09 Jul

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Jacobin Book Club: The Making of Global Capitalism

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intro

Jacobin magazine has just started their inaugural Book Club seminar on Panitch and Gindin’s The Making of Global Capitalism. Up today is my contribution, ‘Within or Against the State‘, which is chiefly in response to how the authors conceive of the state in relation to class struggle. Also available to be read, with more to follow, [...]

15 Feb

16 Comments

Truth, lies & narratives: What ALP’s crisis is not about

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Momentum

In a considered piece at ABC’s The Drum on Thursday, Jonathan Green highlighted a phenomenon that seems to overwhelm Australian politics — the inability of simple facts about the Gillard Government’s performance to overcome the stench of crisis hanging over it. He is correct to point out “that in assuming that the mere facts of its [...]

17 Aug

3 Comments

Trapped by orthodoxy: The Greens and the myths of the market

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Are Greens campaigns like this soon to be a thing of the past?

In the last week the Australian Greens have played an important role in denying the illusion of consensus over the asylum policy “compromise” reached between the major parties. However, in recent years they have also increasingly adapted their economic policies to neoliberal orthodoxy. The Tasmanian Greens have led the charge, with leader Nick McKim becoming [...]

Filed under: economics, Featured, Greens

04 Jul

8 Comments

Steve Keen’s critique of Marx’s Theory of Value: A rejoinder

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Steve Keen

With good reason Sydney-based economist Steve Keen has developed a local and international reputation as a sharp critic of neoclassical economics. For performing this valuable service he has earned the scorn of the neoliberal ideologues dominating mainstream economic commentary. Yet Keen is also a critic of Marx’s approach to political economy, and Left Flank here [...]

08 May

5 Comments

The moment has passed: Megalogenis & the twilight of the reform agenda

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george-megalogenis-with-julia

Today, I’ll be reviewing George Megalogenis’ book, The Australian Moment, for you*. It is notable for two things. Firstly, it is hymn to Australia’s class war from above reform era of the 1980s and 90s — but tinged also with regret that since about 1993 the political class has lost the will to fight the good [...]

15 Aug

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Greens economics (2): The problem with the problem with growth

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Among progressive environmental thinkers it has become de rigueur to attack economic growth as the main problem leading to ecological destruction and runaway climate change. The argument is put with certain variations, but the central theme is always the same: economic growth is infinite while the planet is finite, and so we cannot afford to [...]