1
From Legitimation Crisis to Fiscal Crisis
21
terms
0
notes
post hoc
(en)
occurring or done after the event, especially with reference to the fallacious assumption that the occurrence in question has a logical relationship with the event it follows
1
can therefore be explained, if at all, only post hoc and ad hoc
confirm
7 years ago
can therefore be explained, if at all, only post hoc and ad hoc
confirm
7 years ago
inter alia
(la)
among other things
4
Keynesian
(en)
theories about how in the short run, and especially during recessions, economic output is strongly influenced by aggregate demand; developed by British economist John Maynard Keynes
5
the Keynesian political-economic institutional system of postwar capitalism
notable
7 years ago
the Keynesian political-economic institutional system of postwar capitalism
notable
7 years ago
Hayekian
(en)
pertaining to the economic theories of Friedrich Hayek, an Austrian and British economist and philosopher best known for his defense of classical liberalism
5
plutonomy
(en)
a term that Citigroup analysts have used for economies "where economic growth is powered by and largely consumed by the wealthy few."
5
a fortiori
(la)
used to express a conclusion for which there is stronger evidence than for a previously accepted one
9
That does not help to alleviate the banking crisis, or a fortiori the recession in the real economy
uncertain
7 years ago
That does not help to alleviate the banking crisis, or a fortiori the recession in the real economy
uncertain
7 years ago
equanimity
(en)
calmness and composure, especially in a difficult situation
10
behind the façades of equanimity and tried political craftsmanship
confirm
7 years ago
behind the façades of equanimity and tried political craftsmanship
confirm
7 years ago
Bundesrepublik
(de)
from Bundesrepublik Deutschland, which was used during the Cold War to refer to West Germany
12
the Bundesrepublik had then finally moved beyond its ‘ordoliberal’ misconceptions
uncertain
7 years ago
the Bundesrepublik had then finally moved beyond its ‘ordoliberal’ misconceptions
uncertain
7 years ago
ordoliberal
(en)
the German variant of social liberalism that emphasizes the need for the state to ensure that the free market produces results close to its theoretical potential
12
the Bundesrepublik had then finally moved beyond its ‘ordoliberal’ misconceptions
uncertain
7 years ago
the Bundesrepublik had then finally moved beyond its ‘ordoliberal’ misconceptions
uncertain
7 years ago
trente glorieuses
(fr)
(The Glorious Thirty) the thirty years from 1945 to 1975 in France, during which the economy grew rapidly
19
the legitimacy of the democratic capitalism that had taken shape in the trente glorieuses
defined in footnote as a "golden age"
uncertain
7 years ago
the legitimacy of the democratic capitalism that had taken shape in the trente glorieuses
defined in footnote as a "golden age"
uncertain
7 years ago
peace formula
(en)
post-WWII formula for democratic capitalist stability: government intervention in business, state planning for growth and full employment, social redistribution; supervised by an interventionist state committed to disciplining the market in order to keep this social contract and thus maintain its legitimacy
24
the ‘peace formula’, as it was called in the theoretical discussion in Frankfurt
notable
7 years ago
the ‘peace formula’, as it was called in the theoretical discussion in Frankfurt
notable
7 years ago
wildcat strikes
(en)
a strike undertaken by unionized workers without union leadership's authorization, support, or approval; sometimes termed an unofficial industrial action
26
the ~25 years after WWII when states focused on the welfare of their citizens, with investment in social spending financed by appropriate taxes on the wealthy
26
Its response was to begin with preparations to withdraw from the postwar social contract
notable
7 years ago
Its response was to begin with preparations to withdraw from the postwar social contract
notable
7 years ago
Roaring Seventies
(en)
an unusual term (probably localised to anti-capitalist schools) to refer to the 1970's, characterised by high expectations of prosperity and freedom
26
Around the middle of the ‘Roaring Seventies’, later so called on account of the high expectations of prosperity and freedom that dominated politics and the public mood
notable
7 years ago
Around the middle of the ‘Roaring Seventies’, later so called on account of the high expectations of prosperity and freedom that dominated politics and the public mood
notable
7 years ago
ad libitum
(la)
"at one's pleasure"; more formal term for ad-lib
33
Governments that sought social peace by means of inflation, introducing not yet existing resources into the capitalist distributional conflict, were able to draw on the magic of modern ‘fiat money’, the amount of which, politics commanding public power, may increase ad libitum
uncertain
7 years ago
Governments that sought social peace by means of inflation, introducing not yet existing resources into the capitalist distributional conflict, were able to draw on the magic of modern ‘fiat money’, the amount of which, politics commanding public power, may increase ad libitum
uncertain
7 years ago
stagflation
(en)
(stagnation + inflation) when inflation is high, the economic growth rate slows, and unemployment remains steadily high
34
With the onset of stagflation – of stagnation despite accelerating inflation
notable
7 years ago
With the onset of stagflation – of stagnation despite accelerating inflation
notable
7 years ago
tour de force
(fr)
a performance or achievement that has been accomplished or managed with great skill
34
The monetary stabilization of the world economy in the early 1980s was a tour de force that came with a high political risk
the Reagan/Thatcher era(s) & the beginning of neoliberalism
confirm
7 years ago
The monetary stabilization of the world economy in the early 1980s was a tour de force that came with a high political risk
the Reagan/Thatcher era(s) & the beginning of neoliberalism
confirm
7 years ago
paradigmatic
(en)
of or relating to a paradigm
40
The development of the leading country of modern capitalism, the United States, is paradigmatic
notable
7 years ago
The development of the leading country of modern capitalism, the United States, is paradigmatic
notable
7 years ago
galloping inflation
(en)
defined as inflation of 10% or more
46
the outcome depends on the reaction of owners of investment capital: inflation that turns into galloping inflation may trigger fear of asset losses and lead to capital flight
footnote 76, on the result of inflation or debt being determined by the 'confidence' of investors
uncertain
7 years ago
the outcome depends on the reaction of owners of investment capital: inflation that turns into galloping inflation may trigger fear of asset losses and lead to capital flight
footnote 76, on the result of inflation or debt being determined by the 'confidence' of investors
uncertain
7 years ago
Pumpkapitalismus
(de)
a term introduced by Ralf Dahrendorf; refers to when citizens consume rather than save, and thus most money is borrowed (or "pumped")
46
the end of ‘Pumpkapitalismus’, with a not even roughly predictable loss of savings and income from savings, as well as a rise in unemployment and underemployment, as well as further cuts in public services following a new wave of budgetary consolidation
unknown
7 years ago
the end of ‘Pumpkapitalismus’, with a not even roughly predictable loss of savings and income from savings, as well as a rise in unemployment and underemployment, as well as further cuts in public services following a new wave of budgetary consolidation
unknown
7 years ago
related to "cultural hegemony" in Marxist philosophy (when the ruling class imposes their own worldview on the culture of a society)
46
with a population that would have learned, over years of hegemonic re-education, to regard the distributional outcomes of free markets as fair, or at least as without alternative
strange
7 years ago
with a population that would have learned, over years of hegemonic re-education, to regard the distributional outcomes of free markets as fair, or at least as without alternative
strange
7 years ago