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Interpreting the crisis

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Abstract:

Conjunctural analysis is a way of looking at the social, political, economic and cultural contradictions in any particular period of political settlement, and trying to understand how they are articulated to produce that settlement – and how an alternative political project might seek to produce a different settlement, through different forms of articulation. Any serious analysis of the crisis must take into account its other 'conditions of existence'. For the political settlement that replaced the postwar consensus, which includes the Blair era – for convenience described as neoliberalism – these conditions of existence have included the 'common sense' that the market is the way to organise society. This is not something that operates only in the world of high finance; it is something that is internalised by everyone, and has become the common sense of the age.

Keywords: BLAIRISM; COMMON SENSE; CONJUNCTURE; FINANCE CAPITAL; FINANCIAL CRISIS; HEGEMONY; THATCHERISM

Document Type: Research Article

DOI: http://dx.doi.org/10.3898/136266210791036791

Publication date: March 25, 2010

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