1. Catastrophe or Revolution?
- Author
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Brancaccio, Emiliano and Passarella, Marco Veronese
- Subjects
- *
BASIC income , *DISASTERS , *FREEDOM of expression - Abstract
This essay critically examines a statement made by former chief economist of the International Monetary Fund, Olivier Blanchard, before and during a debate with one of the authors. Blanchard argued that a Keynesian "revolution" is needed to avert a future "catastrophe." But analyzing the historical process this essay names the law of capital's reproduction and tendency toward centralization leads to a grim prediction: the tendency of free capital to centralize and thereby jeopardize all other freedoms threatens today's liberal-democratic hegemonic institutions. In the face of this prospect, neither Keynesian policy nor a universal basic income seem adequate. The only revolution able to avert catastrophe is the redefinition of the most powerful tool in the history of political struggles: collective planning, subversively regarded as a factor for developing free social individuality and a newly liberated human being. [ABSTRACT FROM AUTHOR]
- Published
- 2022
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