Judging the Financial Crisis
Judging the Financial Crisis
Antonia Grunenberg draws a parallel between the 19th century view that imperialism was the only way to conduct world politics and the 21st century conviction that there is no alternative to liberal market capitalism. After the end of socialism, capitalism is said to be self-evident. There are supposed to be no alternatives. The only way to change seems to lie within the capitalist system, not beyond it. Against this view, this chapter argues that democracies have provoked a kind of financial capitalism without reflecting on the consequences. As democratic populations have sought to avoid “social costs” they have brought about a total economization of the political discourse, as well as of the concepts of thinking. And the result is a loss of social care.
Keywords: judgment, Hannah Arendt, Imperialism, Nation-states, totalitarianism, democracy, financial capitalism, globalization
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