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47

Neoliberal Reform: From Tax State to Debt State

22
terms
0
notes

Streeck, W. (2017). Neoliberal Reform: From Tax State to Debt State. In Streeck, W. Buying Time: The Delayed Crisis of Democratic Capitalism. Verso, pp. 47-54

pertaining to Karl Marx and ideas he explicitly explored in his writings; differs from Marxist in that the latter includes ideas developed by others in the same vein of thought

47

The standard economic theory of politics – which should not be confused with the political theory of the economy in the Marxian tradition

—p.47 by Wolfgang Streeck
notable
2 years, 9 months ago

The standard economic theory of politics – which should not be confused with the political theory of the economy in the Marxian tradition

—p.47 by Wolfgang Streeck
notable
2 years, 9 months ago

a type of good consisting of a resource system for which it's hard but not impossible to restrict (e.g. an irrigation system or fishing grounds); differs from pure public goods in that they face problems of congestion or overuse, because they are subtractable; consists of a core resource (e.g., water or fish) which defines the stock variable, while providing a limited quantity of extractable fringe units, which defines the flow variable

47

Its favourite narrative is of excessive demands on the ‘common pool

on the standard economic theory of politics

—p.47 by Wolfgang Streeck
confirm
3 years, 2 months ago

Its favourite narrative is of excessive demands on the ‘common pool

on the standard economic theory of politics

—p.47 by Wolfgang Streeck
confirm
3 years, 2 months ago

accorded a great deal of respect, especially because of age, wisdom, or character

47

an old, though perhaps not venerable, concept

—p.47 by Wolfgang Streeck
confirm
3 years, 2 months ago

an old, though perhaps not venerable, concept

—p.47 by Wolfgang Streeck
confirm
3 years, 2 months ago

an excessive amount of something

49

That the intensification of the fiscal crisis after 2008 is attributable to the financial crisis rather than a surfeit of democracy is borne out by quantitative studies that have found a positive correlation between the size of a country’s financial sector and the scale of new debt taken on in the wake of the crisis

—p.49 by Wolfgang Streeck
confirm
3 years, 2 months ago

That the intensification of the fiscal crisis after 2008 is attributable to the financial crisis rather than a surfeit of democracy is borne out by quantitative studies that have found a positive correlation between the size of a country’s financial sector and the scale of new debt taken on in the wake of the crisis

—p.49 by Wolfgang Streeck
confirm
3 years, 2 months ago

a slogan refering to globalization popularised by Margaret Thatcher; means that the market economy is the only system that works, and that debate about this is over

55

The losers from the neoliberal turn cannot see what they might get from a change of government; the TINA (‘There is no alternative’) politics of ‘globalization’ has long arrived at the bottom of society where voting no longer makes a difference in the eyes of those who would have most to gain from political change

—p.55 by Wolfgang Streeck
notable
3 years, 2 months ago

The losers from the neoliberal turn cannot see what they might get from a change of government; the TINA (‘There is no alternative’) politics of ‘globalization’ has long arrived at the bottom of society where voting no longer makes a difference in the eyes of those who would have most to gain from political change

—p.55 by Wolfgang Streeck
notable
3 years, 2 months ago

a violent attempt to overthrow a government; a coup

57

the radical Left was constantly on the alert for an anti-democratic putsch

—p.57 by Wolfgang Streeck
confirm
3 years, 2 months ago

the radical Left was constantly on the alert for an anti-democratic putsch

—p.57 by Wolfgang Streeck
confirm
3 years, 2 months ago

justice that follows collective ideas of fairness, correctness and reciprocity, concedes demands for a minimum livelihood irrespective of economic performance or productivity, and recognizes civil and human rights to such things as health, social security, participation in the life of the community, employment protection and trade union organization; determined by cultural norms and is based on status rather than contract

58

Two competing principles of distribution were institutionalized in the political economy of postwar democratic capitalism: what I shall call market justice on the one hand and social justice on the other.

—p.58 by Wolfgang Streeck
notable
3 years, 2 months ago

Two competing principles of distribution were institutionalized in the political economy of postwar democratic capitalism: what I shall call market justice on the one hand and social justice on the other.

—p.58 by Wolfgang Streeck
notable
3 years, 2 months ago

aka the Matthew effect of accumulated advantage, from the Gospel of Matthew: "For to all those who have, more will be given, and they will have an abundance; but from those who have nothing, even what they have will be taken away"

60

a cumulative advantage in line with what has been called the Matthew principle

—p.60 by Wolfgang Streeck
notable
3 years, 2 months ago

a cumulative advantage in line with what has been called the Matthew principle

—p.60 by Wolfgang Streeck
notable
3 years, 2 months ago

in Medieval English legal theory, an alternative court to the common law "courts of justice" focused on social cohesion rather than pure justice; could overturn the judgments of common law courts

60

Those involved in such cases could appeal to the ‘court of equity

footnote 27 on how medieval English legal theory distinguished between justice and equity

—p.60 by Wolfgang Streeck
notable
3 years, 2 months ago

Those involved in such cases could appeal to the ‘court of equity

footnote 27 on how medieval English legal theory distinguished between justice and equity

—p.60 by Wolfgang Streeck
notable
3 years, 2 months ago

exclusive or special devotion to a particular interest; a political theory that each political group has a right to promote its own interests and especially independence without regard to the interests of larger groups

62

In their rhetoric and ideational policy, the champions of market justice seek to gain the upper hand by denouncing social justice as ‘political’ (in the sense of particularist) and therefore as dirty or corrupt

—p.62 by Wolfgang Streeck
strange
3 years, 2 months ago

In their rhetoric and ideational policy, the champions of market justice seek to gain the upper hand by denouncing social justice as ‘political’ (in the sense of particularist) and therefore as dirty or corrupt

—p.62 by Wolfgang Streeck
strange
3 years, 2 months ago

of, relating to, or produced by ideation; broadly: consisting of or referring to ideas or thoughts of objects not immediately present to the senses

62

In their rhetoric and ideational policy, the champions of market justice seek to gain the upper hand by denouncing social justice as ‘political’ (in the sense of particularist) and therefore as dirty or corrupt

—p.62 by Wolfgang Streeck
confirm
3 years, 2 months ago

In their rhetoric and ideational policy, the champions of market justice seek to gain the upper hand by denouncing social justice as ‘political’ (in the sense of particularist) and therefore as dirty or corrupt

—p.62 by Wolfgang Streeck
confirm
3 years, 2 months ago

able to cure disease

68

the functionalist view that it expressed a growing need for public investment and curative measures to accompany capitalist development– measures that repaired the damage caused by capital accumulation as well as creating the conditions for further growth

—p.68 by Wolfgang Streeck
notable
3 years, 2 months ago

the functionalist view that it expressed a growing need for public investment and curative measures to accompany capitalist development– measures that repaired the damage caused by capital accumulation as well as creating the conditions for further growth

—p.68 by Wolfgang Streeck
notable
3 years, 2 months ago

(or Homo economicus) a concept in many economic theories portraying humans as consistently rational and narrowly self-interested agents who usually pursue their subjectively-defined ends optimally

69

The expectation of distributive moderation contradicts the model of Homo oeconomicus and can be reconciled with it only on the assumption, axiomatic in labour economics, that workers are ‘risk-averse’.

footnote 40

—p.69 by Wolfgang Streeck
notable
3 years, 2 months ago

The expectation of distributive moderation contradicts the model of Homo oeconomicus and can be reconciled with it only on the assumption, axiomatic in labour economics, that workers are ‘risk-averse’.

footnote 40

—p.69 by Wolfgang Streeck
notable
3 years, 2 months ago

(noun) the action of the state in taking or modifying the property rights of an individual in the exercise of its sovereignty; differs from eminent domain in that it can also refer to private property taken by a private entity authorised by the government

71

in a capitalist socio-economic order it operated as an ‘expropriated state’ devoid of the resources it needed to carry out its tasks

—p.71 by Wolfgang Streeck
confirm
3 years, 2 months ago

in a capitalist socio-economic order it operated as an ‘expropriated state’ devoid of the resources it needed to carry out its tasks

—p.71 by Wolfgang Streeck
confirm
3 years, 2 months ago

the lowest rate of profit that an investor will tolerate in order to put his or her money to work; introduced by Wolfgang Streeck in Buying Time in analogy with reservation wage

75

Evidently, the greater international mobility of industrial and finance capital has raised its ‘reservation profit

defined in footnote 54

—p.75 by Wolfgang Streeck
notable
3 years, 2 months ago

Evidently, the greater international mobility of industrial and finance capital has raised its ‘reservation profit

defined in footnote 54

—p.75 by Wolfgang Streeck
notable
3 years, 2 months ago

in the sense of an electorate, or a body of customers, supporters, etc. In the context of a state, can be described (with reference to Hegel) as its ‘moral root’; in that case, the debt state would then have two such roots

79

The rise of creditors to become the second ‘constituency’ of the modern state

defined in footnote 62

—p.79 by Wolfgang Streeck
notable
3 years, 2 months ago

The rise of creditors to become the second ‘constituency’ of the modern state

defined in footnote 62

—p.79 by Wolfgang Streeck
notable
3 years, 2 months ago

a neologism coined by Wolfgang Streeck in Buying Time, and defined as "the people of the market"; in contrast to the Staatsvolk, with their diffuse and politically expandable civil rights, Marktvolk have claims on the state that are in principle enforceable before a court of law and come to an end with the fulfilment of the relevant contract

(noun) a person or state receiving a mandate

80

a stylized model of the contemporary debt state as addressee and mandatary of two differently constituted collectives

—p.80 by Wolfgang Streeck
notable
3 years, 2 months ago

a stylized model of the contemporary debt state as addressee and mandatary of two differently constituted collectives

—p.80 by Wolfgang Streeck
notable
3 years, 2 months ago

"nation" or "people"; defined by Wolfgang Streeck in Buying Time as "the general citizenry", to be distinguished from the Marktvolk (the people of the market); nationally organized and consisting of citizens tied to a particular state, from which they can claim certain inalienable rights of citizenship

(adj) digressing from subject to subject

92

This clears the way for discursive distinctions

—p.92 by Wolfgang Streeck
confirm
3 years, 2 months ago

This clears the way for discursive distinctions

—p.92 by Wolfgang Streeck
confirm
3 years, 2 months ago

"language-game", which is a philosophical concept developed by Ludwig Wittgenstein and Friedrich Waismann that refers to simple examples of language use and the actions into which the language is woven

94

There is no place in the long-hegemonic Sprachspiel of a neoliberal national holism for the idea that the first to bail out the Greek banks should be their own shareholders and those who pocketed the profits, value increases, incomes and bonuses of recent years

footnote 85

—p.94 by Wolfgang Streeck
unknown
3 years, 2 months ago

There is no place in the long-hegemonic Sprachspiel of a neoliberal national holism for the idea that the first to bail out the Greek banks should be their own shareholders and those who pocketed the profits, value increases, incomes and bonuses of recent years

footnote 85

—p.94 by Wolfgang Streeck
unknown
3 years, 2 months ago

a type of nationalism that rose in the mid-2010s, especially in Western Europe and North America; commonly associated with right-wing populism, anti-globalisation, nativism, protectionism, opposition to immigration, and euroscepticism

95

Whereas neonationalist public discourse blames excessive national debt levels on the easy life that one country’s citizens made for themselves

—p.95 by Wolfgang Streeck
confirm
3 years, 2 months ago

Whereas neonationalist public discourse blames excessive national debt levels on the easy life that one country’s citizens made for themselves

—p.95 by Wolfgang Streeck
confirm
3 years, 2 months ago