Thursday, November 10, 2011

Neoliberal Technocratism Explained

Why is that the Greeks et alia don't get to vote on austerity measures? From a comment on a Crooked Timber post on technocratisme:
Crisis caused by groupthink among economists best addressed by appointing economists to head governments, say all economists
And there you have the last 30 years or so in a nutshell: Faster Pussy Cat Kill Kill. The motto of the neoliberals ever since their grand experiment in ruining our lives went not so much awry but according to its 19th-century model.

From the same thread:
Larry Summers: SB Economics, MIT (1975)
Mario Draghi: PhD Economics, MIT (1976)
Lucas Papademos: PhD Economics, MIT (1977)
Ben Bernanke: PhD Economics, MIT (1979)
Papademos, demos -- oddly enough -- means people, is the new technocrat who will rescue Greece through continued neoliberalization. Oopa. From the same link, a long report on how the Greeks, who didn't cause the problems, are going to be rogered. See especially section 34 in which the Greek economy is restored by cutting wages, jobs, social programs, and related etc. To say nothing of Table 14 in which every single thing that might bring in revenue, from the lottery to gold mines, is sold through
an independent and depoliticised board of directors and an advisory board to allow it to benefit from international experience and technical expertise. In order to enhance transparency, the board may include two observers nominated by the Commission and the Eurogroup. Moreover, to strengthen the whole process, the mission agreed with the government establishing cumulative quarterly targets for privatisation proceeds.
Because the last thing you'd want in a situation like this is people other than the architects of the neoliberal global economy stepping in to fix the mess the architects of the neoliberal global economy made.

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