A New Deal For Europe – Mark Blyth on Regaining Social Democracy’s Lost Voice
Don’t miss IE Brown Professor Mark Blyth on this fascinating panel about austerity and the outline of a New Deal for Europe and for Greece.
He argues that the world today is governed by the forces of market liberalization and globalization that have wreaked structural deflation across the entire planet, rampant inequality and a global financial crisis. Labor, who were the winners of the 70s, have become the losers of the aughts and their anger is flaring up in the form of nationalist movements across the US (Trump) and Europe (National Front in France, AfD in Austria).
As an antidote, Blyth calls for a New Deal for Europe harkening back to the US New Deal after the Depression in the 30s. This transformational set of programs created state capacity and harnessed social forces for a common project to rebuild the capitalist economy. It reflected a historical pattern of pushback against capital in times of financial crises - when people question capitalism’s “winner takes all” logic and its instability that repeatedly calls on the majority to bail out the minority.
So why has social democracy not found its voice in today’s financial crises? Blyth answers this question by blaming a large swath of social forces, including Social Democratic party elites.
Is Blyth right to accuse Social Democrats disassociation from their base and implicate them in the current regime? Are we as a society no longer bound together by a set of moral values that’s about citizenship and solidarity rather than just economic value? Do we need to shift our political discourse to a discussion about aims not the most efficient way to get there?
The discussion was chaired by Social Europe Editor-in-Chief and introduced by the Director of the FES Athens Office Christos Katsioulis.
To see the video of this panel, go here.