The Catastrophic Management Of Catastrophe
The catastrophic management of catastrophe. If there is one line that describes the nature of neoliberal crisis management, that must be it. From Mexico and Latin America in 1982 to the South-East Asian crisis of 1997-’98, and from Turkey and Argentina in the early 2000s to the European debt crisis from 2010 onward — the most catastrophic thing about neoliberal crisis management is not only that it has a penchant to turn already catastrophic financial crises caused by runaway private speculation into an immense source of private gain for the same very financiers responsible for the catastrophe to begin with; but, even more nefariously, that it makes those catastrophes so much more catastrophic than they really need to be for almost everyone else. Notwithstanding all the propaganda and rhetoric about “free markets” promoting democracy and development, the massive bank bailouts of the neoliberal era have invariably shown that those so-called neoliberals in fact care very little even about free markets — let alone about democracy or development.