Neoliberalism is the chaotic theory of economic chaos,
the stupid exultation of social stupidity,
and the catastrophic political management of catastrophe.
~ Subcomandante Marcos of the EZLN
The catastrophic management of catastrophe. If there is one line that describes the nature of neoliberal crisis management, that must be it. From Mexico and Latin America in 1982 to the South-East Asian crisis of 1997-’98, and from Turkey and Argentina in the early 2000s to the European debt crisis from 2010 onward — the most catastrophic thing about neoliberal crisis management is not only that it has a penchant to turn already catastrophic financial crises caused by runaway private speculation into an immense source of private gain for the same very financiers responsible for the catastrophe to begin with; but, even more nefariously, that it makes those catastrophes so much more catastrophic than they really need to be for almost everyone else.
… The neoliberal ethos can really be summarized in a straightforward principle: “privatize profits and socialize losses!” Or, perhaps more appropriately: “fuck everyone else!”
Read the full diabtribe by Jerome Roos here: Neoliberalism, or The Catastrophic Management of Catastrophe, ROAR Magazine