stiglitzjoseph   5

Financial Globalisation Has Been a Disaster. Brexit Gives Us a Chance to Resist It | Novara Media
The left was right to campaign against leaving the EU in 2016. Based on the tenor of the campaign, it was clear the Leave campaign would embolden the xenophobes and nationalists that exist across the class spectrum in the UK. This prediction was proven chillingly correct with both the spike in hate crime that followed the referendum and the movement that has emerged around Tommy Robinson over the last few weeks. The left should deplore and, if necessary, physically resist such acts of violent racism.

But fighting fascism does not mean accepting globalisation. The fact is, working class people are right to be pissed off about global economic and financial integration – especially those in the places that have been most ravaged by it. Financial globalisation has led to the concentration of capital in a series of financial entrepots, more integrated into the global economy than they are with their own countries. Rather than using this capital for productive investment, these centres have repurposed it for the kind of financial wizardry that caused the 2008 crash. London is in many ways the global financial hub par excellence, with the City of London the vampire squid sucking on the face of the global economy.

The left should be making a case for Brexit that involves resisting financial globalisation, whilst welcoming immigrants from the parts of the world that have been most ravaged by both colonialism and free market neocolonialism.
finance  economics  politics  globalisation  financialisation  neoliberalism  anti-globalisation  IMF  WTO  protest  activism  StiglitzJoseph  KrugmanPaul  TheLeft  France  nationalisation  Greece  Italy  EU  Euro  singleMarket  UK  Brexit  referendum  campaigning  immigration  intervention  economy  dctagged  dc:creator=BlakeleyGrace 
june 2018 by petej

related tags

activism  anti-globalisation  austerity  automation  blanchflowerdanny  brettonwoods  brexit  budget  campaigning  capitalism  casualisation  corbynjeremy  cuts  davos  dc:creator=blakeleygrace  dc:creator=milibanded  dctagged  economics  economy  eu  euro  finance  financialisation  france  freetrade  friedmanthomas  gatt  globalisation  government  greece  imf  immigration  independent  inequality  insecurity  intervention  italy  krugmanpaul  labourparty  latinamerica  mazzucatomariana  nationalisation  neoliberalism  nesvetailovaanastasia  osbornegeorge  pay  pettiforann  pikettythomas  policy  politics  poverty  precarity  protest  reaganronald  recession  referendum  rodrikdani  sandersbernie  singlemarket  summerslarry  thatcher  theleft  toryparty  trumpdonald  uk  unemployment  wages  wto 

Copy this bookmark: