2 options
Buying time : the delayed crisis of democratic capitalism / Wolfgang Streeck ; translated by Patrick Camiller.
- Format:
- Book
- Author/Creator:
- Streeck, Wolfgang, 1946- author.
- Standardized Title:
- Gekaufte Zeit. English
- Language:
- English
- German
- Subjects (All):
- Capitalism.
- Neoliberalism.
- Democracy--Economic aspects.
- Democracy.
- Economic policy.
- Financial crises.
- Physical Description:
- 1 online resource (xviii, 220 pages.)
- Edition:
- English-language edition.
- Place of Publication:
- London ; Brooklyn, NY : Verso, 2014.
- System Details:
- text file
- Summary:
- The financial and economic crisis that began in 2008 still has the world on tenterhooks. The gravity of the situation is matched by a general paucity of understanding about what is happening and how it started. In this book, based on his 2012 Adorno Lectures given in Frankfurt, Wolfgang Streeck places the crisis in the context of the long neoliberal transformation of postwar capitalism that began in the 1970s. He analyses the subsequent tensions and conflicts involving states, governments, voters and capitalist interests, as expressed in inflation, public debt, and rising private indebtedness. Streeck traces the transformation of the tax state into a debt state, and from there into the consolidation state of today. At the centre of the analysis is the changing relationship between capitalism and democracy, in Europe and elsewhere, and the advancing immunization of the former against the latter. Book jacket.
- Contents:
- 1 From Legitimation Crisis to Fiscal Crisis 1
- A new type of crisis 6
- Two surprises for crisis theory 10
- The other legitimation crisis and the end of the postwar peace 20
- The long turn: from postwar capitalism to neoliberalism 26
- Buying time 32
- 2 Neoliberal Reform: From Tax State to Debt State 47
- Financial crisis: a failure of democracy? 47
- Capitalism and democracy in the neoliberal revolution 51
- Excursus: capitalism and democracy 55
- Starving the beast! 63
- The crisis of the tax state 70
- From tax state to debt state 72
- Debt state and distribution 76
- The politics of the debt state 79
- Debt politics as international financial diplomacy 90
- 3 The Politics of the Consolidation State: Neoliberalism in Europe 97
- Integration and liberalization 97
- The European Union as a liberalization machine 103
- Institutional change: from Keynes to Hayek 110
- The consolidation state as a European multilevel regime 112
- Fiscal consolidation as a remodelling of the state 117
- Growth: back to the future 126
- Excursus on regional growth programmes 134
- On the strategic capacity of the European consolidation state 147
- Resistance within the international consolidation state 156
- 4 Looking Ahead 165
- What now? 165
- Capitalism or democracy 172
- The euro as a frivolous experiment 174
- Democracy in Euroland? 177
- In praise of devaluation 181
- For a European Bretton Woods 185
- Gaining time 188.
- Notes:
- "First published as Gekaufte Zeit, Suhrkamp Verlag, Berlin, 2013."
- Includes bibliographical references and index.
- Electronic reproduction. Ipswich, MA Available via World Wide Web.
- Description based on print version record.
- ISBN:
- 9781781686195
- 178168619X
- Publisher Number:
- 99984042743
- Access Restriction:
- Restricted for use by site license.
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.