Responding to Finance Crises: Panic and Nostalgia
The under-historicizing of finance, which I touched upon in a previous post, seems to me also related to a certain incapacity to adequately ‘politicize’ responses to the recent and ongoing crisis. Among protesters, there was a sense of euphoria during the economic turmoil of the winter 2008-2009 in Iceland, that big change was possible, that the banking crash and subsequent political crisis would open up new possibilities for a radical left. This did not happen. To the contrary: the existing left parties have both swung to the right, and the vacuum on the left has been filled by all kinds of ‘post-political’ nonsense with no pretensions toward radical egalitarianism or social justice. Reykjavík’s Best Party is a good example of this, as is the imminent success of the Pirate Party.
The consensus in Iceland following the banking crash, not least among the established left parties, is that what is…
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