Gareth Fearn | Ransom Capitalism · LRB 30 August 2022
lrb.co.uk · 956 words · saved by 1 readers
The state and its citizens are expected to pay private companies’ ransom demands without taking anything substantive...
30 August 2022 Ransom Capitalism Gareth Fearn Share on Bluesky Share on Facebook Share Email Print 5 As Robert Brenner argued in NLR two years ago, the financial collapse of 2007-8 set a template for government responses to crises that threaten the means of existence. Whether it's a global financial meltdown, a deadly pandemic or energy bills so high that many people can't afford to pay them, the policy instrument of choice is the bailout. In both the financial crisis and the first months of the pandemic, there was a broad consensus that governments needed to make extraordinary fiscal interven
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