Radical Interpretations of the Present Crisis

Panel Description: The present moment is arguably one of unprecedented confusion on the Left. The emergence of many new theoretical perspectives on Marxism, anarchism, and the left generally seem rather than signs of a newfound vitality, the intellectual reflux of its final disintegration in history. As for the politics that still bothers to describe itself as leftist today, it seems no great merit that it is largely disconnected from the academic left’s disputations over everything from imperialism to ecology. Perhaps nowhere are these symptoms more pronounced than around the subject of the economy: radical political economy has witnessed a flurry of recent works, many quite involved in their depth and complexity; similarly, recent activism around austerity, joblessness, and non-transparency, while quite creative in some respects, seems hesitant to oppose the status quo mantra,“There is no Alternative,” with anything but nostalgia for the past, above all for the welfare state. At a time when the United States has entered the most prolonged slump since the Great Depression, the European project founders on the shoals of debt and nationalism. If the once triumphant neoliberal project of free markets for free people seems utterly exhausted, the “strange non-death of neo-liberalism,” as a recent book title has it seems poised to carry on indefinitely. The need for a Marxist politics adequate to the crisis is as great as such a politics is lacking.

And 2011 now seems to be fading into the past. In Greece today as elsewhere in Europe existing Left parties remain largely passive in the face of the crisis, eschewing radical solutions if they even imagine such solutions to exist. In the United States, #Occupy has vanished from the parks and streets, leaving only bitter grumbling where once was seeming creativity and open-ended potential. In Britain, the energy and anger of 2010 Student Protests and the 2011 London Riots, both, in the eyes of the Left, expressions of a shafted generation’s response to a crisis, has now somewhat dissipated. Finally, in the Arab world where, we are told the 2011 revolution is still afoot, it seems inconceivable that the revolution, even as it bears within it the hopes of millions, could alter the economic fate of any but a handful. While joblessness haunts billions worldwide, politicization of the issue seems chiefly the prerogative of the right. Meanwhile, the poor worldwide face relentless price rises in fuel and essential foodstuffs. The prospects for world revolution are remote at best, even as bankers and fund managers seem to lament democracy’s failure in confronting the crisis. In this sense, it seems plausible to argue that there is no crisis at all, but simply the latest stage in an ongoing social regression. What does it mean to say that we face a crisis, after all, when there is no real prospect that anything particularly is likely to change, at least not for the better?

 

London Panelists:

David Graeber (author, Debt: the First 5000 Years)
Saul Newman (author, From Bakunin to Lacan)
Hillel Ticktin (co-founder, Critique: Journal of Socialist Theory)
James Woudhuysen (contributor to Sp!iked magazine)

Questions for panelists:

1. Do we live in a crisis of capitalism today and, if so, of what sort ― political? economic? social? Is capitalism basically the same in its “laws of motion” and can it be grasped equally well today as it was by Marx? What difference, if any, does the collapse of the socialist workers movement make for our understanding of capitalism?

2. Why are sophisticated leftist understandings of the world seemingly unable to assist in the task of changing it? Conversely, is the world intelligible despite our incapacity to transform it politically? Can the Left survive as an economics or social theory? Is our work more “difficult” today in theorizing capitalism, or of a completely different kind than it was for past generations of leftist intellectuals?

3. Many on the left welcomed the #Occupy movement in 2011 because, above all, it responded to capitalist austerity in its slogans and characterized itself in class terms. Did #Occupy betoken a renewed salience of class? How did #Occupy and other movements worldwide differ from the political response–whether by the new social movements or other political expressions–to the crisis of Fordism beginning in the late 1960s and crystallizing with the Oil Crisis in 1973?

4. How does the present crisis compare with past crises of capital? What might we expect to be the duration of the present crisis? Is there an end in sight? Or are we witnessing the “terminal crisis” of capitalism? How do we know? If not the end of capitalism as such, does the present crisis at least signal an end to neoliberalism? If so, what will take its place?

5. How do your political views influence your understanding of capitalism and crisis? In what sense is economics as a science or discipline independent and autonomous from those politics? How do you avoid the danger of your theory from simply confirming your politics, rather than allowing our understanding of present circumstances to help push beyond our present political impasse?

6. At different moments of its unfolding the crisis has been differently expressed in different locations – a sub-prime mortgage crisis in North America, then a sovereign debt crisis in Europe, and now in a still different form in China. What is the extent of the present crisis and how has it been distributed globally? Unevenly? What does globalization look like in a period of prolonged crisis? Is the era of US hegemony at an end? If so, what will take its place? How is/was American imperialism connected to first Fordism and, later, post-Fordist capitalism and how does the new capitalism challenge a new American Empire-led global
(re-)organisation?