Chapter

Judging the Financial Crisis

Antonia Grunenberg

in The Intellectual Origins of the Global Financial Crisis

Published by Fordham University Press

Published in print September 2012 | ISBN: 9780823249602
Published online January 2013 | e-ISBN: 9780823250752 | DOI: http://dx.doi.org/10.5422/fordham/9780823249602.003.0004
Judging the Financial Crisis

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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

Chapter.  3596 words. 

Subjects: Social and Political Philosophy

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