‘Socialism for the rich’ became a popular phrase in recent years. It refers to the way the rich have all kinds of mechanisms for mutual support and solidarity, and the way this is reflected in government policy.
The vast machinery of speculation owned by the wealthy was saved, and at the expense of those whose labour created their wealth. The astronomical debts racked up by private banks were loaded onto the backs of the working class. The latter would pay for them through wage cuts, longer working hours, cuts to vital public services and privatisation; and through the heightened exhaustion, stress, mental illness, unemployment, strained relationships. And a never-ending litany of tiny everyday personal humiliations, if people had the time and the means to recount them.
Neoliberalism seeks to demolish any form of collective solidarity that becomes an obstacle to the logic of the market. But it also seeks to…
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