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40

Progressive neoliberalism versus reactionary populism: a Hobson's choice

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Fraser, N. (2017). Progressive neoliberalism versus reactionary populism: a Hobson's choice. In Geiselberger, H. (ed) The Great Regression. Polity Press, pp. 40-48

41

[...] Trump's victory is not solely a revolt against global finance. What his voters rejected was not neoliberalism tout court, but progressive neoliberalism [...] an alliance of mainstream currents of new social movements (feminism, anti-racism, multiculturalism and LGBTQ rights) on the one side, and high-end 'symbolic' and service-based sectors of business (Wall Street, Silicon Valley and Hollywood) on the other. In this alliance, progressive forces are effectively joined with the forces of cognitive capitalism, especially financialization. However unwittingly the former lend their charisma to the latter. Ideals like diversity and empowerment, which could in principle serve different ends, now gloss policies that have devastated manufacturing and the middle-class livelihoods that were once available to those engaged in it.

—p.41 by Nancy Fraser 1 year, 5 months ago

[...] Trump's victory is not solely a revolt against global finance. What his voters rejected was not neoliberalism tout court, but progressive neoliberalism [...] an alliance of mainstream currents of new social movements (feminism, anti-racism, multiculturalism and LGBTQ rights) on the one side, and high-end 'symbolic' and service-based sectors of business (Wall Street, Silicon Valley and Hollywood) on the other. In this alliance, progressive forces are effectively joined with the forces of cognitive capitalism, especially financialization. However unwittingly the former lend their charisma to the latter. Ideals like diversity and empowerment, which could in principle serve different ends, now gloss policies that have devastated manufacturing and the middle-class livelihoods that were once available to those engaged in it.

—p.41 by Nancy Fraser 1 year, 5 months ago
41

[...] In the US form, progressive neoliberalism is an alliance of mainstream currents of new social movements (feminism, anti-racism, multiculturalism and LGBTP rights) on the side, and high-end 'symbolic' and service-based sectors of business (Wall Street, Silicon Valley and Hollywood) on the other. In this alliance, progressive forces are effectively joined with the forces of cognitive capitalism, especially financialization. [...]

—p.41 by Nancy Fraser 1 year, 5 months ago

[...] In the US form, progressive neoliberalism is an alliance of mainstream currents of new social movements (feminism, anti-racism, multiculturalism and LGBTP rights) on the side, and high-end 'symbolic' and service-based sectors of business (Wall Street, Silicon Valley and Hollywood) on the other. In this alliance, progressive forces are effectively joined with the forces of cognitive capitalism, especially financialization. [...]

—p.41 by Nancy Fraser 1 year, 5 months ago
44

[...] feminism and Wall Street are birds of a feather, perfectly united in the person of Hillary Clinton.

What made possible that conflation was the absence of any genuine left [...] any comprehensive left narrative that articulated the legitimate grievances of Trump supporters with a fulsome critique of financialization, on the one hand, and with an anti-racist, anti-sexist and anti-hierarchical vision of emancipation, on the other. [...]

—p.44 by Nancy Fraser 1 year, 5 months ago

[...] feminism and Wall Street are birds of a feather, perfectly united in the person of Hillary Clinton.

What made possible that conflation was the absence of any genuine left [...] any comprehensive left narrative that articulated the legitimate grievances of Trump supporters with a fulsome critique of financialization, on the one hand, and with an anti-racist, anti-sexist and anti-hierarchical vision of emancipation, on the other. [...]

—p.44 by Nancy Fraser 1 year, 5 months ago
46

[...] Does anyone believe that a Clinton presidency would have gone after Wall Street and the 1 per cent? That it would have diminished rather than stoked populist rage? In fact, the rage felt by many Trump supporters is quite legitimate, even if much of it is currently mal-directed towards immigration and other scapegoats. The proper response is not moral condemnation but political validation, while redirecting the rage to the systemic predations of finance capital.

yesss

—p.46 by Nancy Fraser 1 year, 5 months ago

[...] Does anyone believe that a Clinton presidency would have gone after Wall Street and the 1 per cent? That it would have diminished rather than stoked populist rage? In fact, the rage felt by many Trump supporters is quite legitimate, even if much of it is currently mal-directed towards immigration and other scapegoats. The proper response is not moral condemnation but political validation, while redirecting the rage to the systemic predations of finance capital.

yesss

—p.46 by Nancy Fraser 1 year, 5 months ago
48

[...] Trump's victory marked a defeat for the holy alliance of emancipation with financialization. But his presidency offers no resolution of the present crisis, no promise of a new regime, no secure hegemony. What we face, rather, is an interregnum, an open and unstable situation in which hearts and minds are up for grabs. In this situation, there is not only danger but also opportunity: the chance to build a new 'new left'.

Nancy Baeser

—p.48 by Nancy Fraser 1 year, 5 months ago

[...] Trump's victory marked a defeat for the holy alliance of emancipation with financialization. But his presidency offers no resolution of the present crisis, no promise of a new regime, no secure hegemony. What we face, rather, is an interregnum, an open and unstable situation in which hearts and minds are up for grabs. In this situation, there is not only danger but also opportunity: the chance to build a new 'new left'.

Nancy Baeser

—p.48 by Nancy Fraser 1 year, 5 months ago