The London School of Economics and Political Science, Brexit Blog, March 2019.
What is the European Union? The closest concept I can come up with is that of a liberal empire. An empire is a hierarchically structured block of states held together by a gradient of power from a centre to a periphery. At the centre of the EU is Germany, trying more or less successfully to hide inside a “Core Europe” (Kerneuropa) formed together with France. Germany doesn’t want to be seen as what the British used to call a Continental Unifier, even if in fact this is what it is. That it likes to hide behind France is a source of power for France vis-a-vis Germany.
Like other imperial countries, most recently the United States, Germany conceives of itself, and wants others to do the same, as a benevolent hegemon doing nothing else than spreading universal common sense and moral virtues to its neighbours, at a cost to itself that is, however, worth bearing for the sake of humanity. In the German-cum-European case, the “values” that are to give legitimacy to empire are those of liberal democracy, constitutional government and individual liberty, in short, the values of political liberalism. Wrapped into them, to be displayed when expedient, are free markets and free competition, i.e., economic liberalism. Determining the exact composition and the deeper meaning of the imperial value package and how it is to be applied in specific situations is a prerogative of the hegemonic centre – enabling it to extract a sort of political seigniorage from its periphery in return for its benevolence. (…)
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Review of Yanis Varoufakis (2017), Adults in the Room: My Battle with Europe’s Deep Establishment, London: The Bodley Head.
Appeared in Inference: International Review of Science 4 (3), March 2019.
What a strange book—strange but indispensable nevertheless. From January to July 2015, Yanis Varoufakis served as the Greek government’s finance minister. Adults in the Room is an account of his battle with what he calls Europe’s deep establishment. It is often self-indulgent, sometimes sentimental. He also takes pains to show he is human. He describes his happy marriage. He takes dinner with friends. He remembers his student days, and argues with his daughters. He encounters German secret service agents who unaccountably urge him to continue fighting the good fight. His mistakes he assigns to a nature that is too trusting given the intrigues both abroad and at the court of Alexis Tsipras, his prime minister and the leader of Syriza.
And yet, the book is indispensable. For whom? For the journalists who helped the masters of Europe get rid of Varoufakis; for the armies of European functionaries, les ronds-de-cuir; and, one might hope, for teachers and students of the policy sciences. Varoufakis’s book provides an honest account of how our world is governed. It will be plausible to anyone who has tried to make sense of political life without falling victim to the charm of political power. (…)
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Adam Smith Lecture in Jurisprudence, University of Glasgow, 30 May 2018. Published online on February 6, 2019, in: Jurisprudence: An International Journal of Legal and Political Thought.
I start, not with Smith – he will show up near the end – but with a close friend of his, the historian Edward Gibbon. In the fourth volume of his Decline and Fall of the Roman Empire, published in 1788, Gibbon’s narrative reaches the point when in the late fifth century the Western Roman Empire forever expired. Before he finally turns his attention to the history of Byzantium, Gibbon pauses to look back at more than four centuries of Roman imperial statehood to consider what the ‘awful revolution’ he has recounted might mean for ‘the instruction of the present age’. (…)
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Review of Joshua B. Freeman (2018), Behemoth: A History of the Factory and the Making of the Modern World, New York: W.W. Norton & Company.
Appeared in London Review of Books 41 (3), 2019, 29-31.
It was in the early 1960s, I think, that our class at a small-town Gymnasium made a trip to south-western Germany, accompanied by several teachers. We visited Heidelberg and Schwetzingen and similar places without really seeing them; 17-year-old boys have other things on their minds. But we also went to Rüsselsheim, near Frankfurt, for a tour of the Opel car factory. I had never imagined that a place like this could exist: the deafening noise, the dirt, the heat, and in the middle of it all, people stoically performing minute predefined operations on the cars-in-the-making that were slowly but relentlessly moving past their work stations. The high point of the visit was the foundry in the basement – which, as I now learn from Joshua Freeman’s marvellous book, was the standard place for foundries in car factories of that era. Here, where the heat seemed unbearable and there was almost no light, half-naked men carried the molten metal, red-hot, from the furnace to the casting stations in small buckets filled to a back-breaking weight. Trained in the classics rather than the real world, I felt I had entered the workshop of Hephaestus. Looking back, I think it was on that day I decided to study sociology, which I then believed could help me and others to improve the lives of those slaving away in the basements of factories everywhere. (…)
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Norbert Lechner Lecture, Diego Portales University, Chile, November 14, 2018.
In a globally integrated capitalist economy borders between states are supposed to become economically irrelevant. Globalization is the ultimate form of liberalization; it shields free markets, instituted on a global scale, from national state intervention, in particular of a redistributive kind. Rather than markets located in states, under globalization states become located in markets. This has momentous consequences for the nature of statehood, both domestically and internationally. States located in markets lose the capacity to protect their economies and societies from market competition; in fact their economic role, if one is left for them at all, is to deregulate their national economies in order to make them more competitive, internally first and as a consequence externally as well. (…)
– Video (youtube.com)
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Interview with the Greek online journal, Marginalia , October, 2018.
In your most recent book (How will capitalism end?, 2016) you mention that the history of capitalism has been, since the 19th century at least, a history of its crises. However, the various predictions of its end have been proven wrong until now. Today, alongside a widespread consensus on the seriousness of the ongoing crisis, there is a total disagreement on how and if it is going to have an end at all. How can one explain this “Babel”? Does it make sense anymore, after so many false predictions, to ask economists and sociologists to predict the future?
What older theories of capitalist decline, or capitalist end, did not know, and could not know, is how many different forms capitalism as a social and economic system can assume – from liberal to state-administered to neoliberal, or from merchant to industrial to financial, etc. etc. Often enough, these transformations happened in the last minute, forced by crises, powerful countermovements, or, not least, the rise of the state and global warfare in the twentieth century. Still, the basic problem of modern capitalism remains: it is a socio-economic regime that depends on endless growth – endless accumulation of capital – in a finite world. All sorts of tricks have been invented to suspend that problem provisionally and for the time being; but there is no reason to believe that this will always be successful. In any case, giving up on thinking only because the question is difficult is not a good idea. (…)
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Interview by Jipson John and Jitheesh P.M., Monthly Review Online, December 06, 2018.
Originally published in Frontline, November 09, 2018
In “How will capitalism end?”, your 2014 article for “New Left Review”, you gave a theoretical farewell to capitalism. You identified five disorders to the system, namely, declining growth, oligarchy, starvation of public sphere, corruption and international anarchy that would bring about the end of capitalism. Are you saying that such an end is impending or immediate before us?
I am not saying that. I am saying that those five trends will continue as there is nothing to be seen that can stop them. I am also saying that there is no new society waiting in the wings of history, which will only have to be instituted by the forces of capitalist opposition. Instead, I am expecting a long period of high uncertainty and disorder—an interregnum in which the old order has died while a new order cannot yet be born. Very strange things can happen in such a time, as Antonio Gramsci pointed out in a famous passage of his The Prison Notebooks.
You argue that capitalism will continue to regress and atrophy until at some point it might end. You also add that we do not need to confront capitalism but let its “natural” end come about. Will capitalism end in such a peaceful manner or will it endanger humanity? People such as John Bellamy Foster speak of either socialism or exterminism as the choice before humanity.
The interregnum will be an extremely dangerous period. It is not that we don’t need to confront capitalism. I said we don’t have the collective capacity to do away with it. I wish we did. But capitalism is now a global regime while anti-capitalist politics is inevitably local. That makes it possible to throw sand into the wheels of capitalist development but, I am afraid, not to end it. (…)
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