After neoliberalism

Neoliberalism tends to end its hegemony generating economic traps that harshly punish popular sectors and produce highly unstable situations. When outcome turns into crisis, those who take the steering wheel with “the hot potato in their hands” have to maneuver in the turbulence they were left with. In this context, we need to react without falling prey to pressures and slogans from the same groups that generated the catastrophe. They will adduce urgency in responding to the crisis to smuggle the defense of their interests and privileges. If we are not alert and ready to tackle those pressures, we will forego the best opportunity to impose in-depth transformations on the fly. Two examples to illustrate the case:

The first thing that those who unleashed the crisis will adduce is that there is the need to save financial entities. Saving them to restore the role they played does not make sense; rather what does make sense is saving financial system while fully transforming its structure and functioning.

Another issue that they will adduce is the need to continue with the reduction of fiscal deficit without touching highest-income concentrated sectors and rigorously paying the huge sovereign debt that they have imposed on us. Macroeconomic order is very important but not at the expense of medium and popular sectors. The wealthiest and richest, those who outrageously profit during the neoliberal phase, ought to fully assume the cost of the disaster they left behind. This implies dismounting the engines of the suffered concentration, transforming tax structure and public spending, and reorienting credit, setting in motion an economy that serves everybody, cares for the environment, and is managed with sovereignty, justice, and equity.

Important changes are coming; they should not take us by surprise.



The Editors

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