Commentary on Political Economy

Friday, 20 May 2022


 Jacob Greber in the AFR captures (how wittingly? only accidentally?) the social and political catastrophe that Western bourgeoisies have brought upon themselves and upon their countries with reference to today’s elections in Australia:

“It may well turn out be a definitive election that breaks down the “big-tent” policy models of both Labor and the Coalition. No doubt many would hope this vote ends the past decade of turmoil and uncertainty and weak policy. But it may turn out that the post-2010 period was merely a warm-up session.

Governing in the social media- and smart-phone age, which has slashed the cost of entry for hucksters and political charlatans, and supercharged the power of tiny but noisy minorities, has been getting harder worldwide. It has upended traditional political alliances and undermined the old political institutional stability that only dominant, competing, political parties could guarantee.

Governments have become scrappy, in both style and perception, since the early 2000s. So much so, that the durable models demonstrated by Bob Hawke/Paul Keating and John Howard are at risk of becoming the historical exceptions to the rule of chaos and toothless, temporary leadership.”

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