STWR - Share The World's Resources

There is a crisis in free market ideology - but the movement towards state intervention won't last

Neo-liberalism is slowly fading away - that is, if we define neo-liberalism as an ideology that steadily wants to reduce and belittle the role of government and promote ever freer markets. 

Skyrocketing oil prices, a falling dollar, and collapsing financial markets are the key ingredients in an economic brew that could end up in more than just an ordinary recession. 

Watching the corporate media report the ‘financial crisis’ is instructive. From the perspective of power, it is important that a steadying hand is applied to the tiller of news and commentary on the crisis, and the global economy itself.

On 9 August 2007, globalisation's rickety financial levees were broken by a storm-surge of debt, invisible to most punters, but scary enough to frighten bankers.

'If the Bush administration has decided to attack Iran militarily, is there any power on earth that can stop it if the people of the US are unable or unwilling to do so? 

The worldwide consequences of instability in the United States property market reveal the fragile pillars of neo-liberal globalisation, says Robert Wade.