In the 1970s, the Left Put a Good Crisis to Waste

The long 1970s crisis demonstrated that Keynesian “managed capitalism” was no longer viable. The accumulating contradictions of that order demanded a restructuring in the form of neoliberal capitalism. The rise of finance in this new regime was critical for supporting globalization, restoring class discipline, increasing the rate of exploitation, and boosting profits — even as […]

This post was originally published on Jacobin.