Not with a bang but a whimper: The End of the Mining Boom and the next Budget

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Shape without form, shade without colour,

Paralysed force, gesture without motion

                                                -TS Elliot

On the 12th May Treasurer Joe Hockey will present his second budget. The budget lies at the heart of the state’s efforts to reproduce capitalist society; thus understanding what is in the budget plays some role in interpreting the terrain in which we contest capitalism on. His previous budget was the centrepiece of a clear vision (a Plan A) to address the challenges facing capital accumulation in Australia and it lies pretty much in ruins. Facing the end of the mining boom and thus a drop in growth levels, profits, wages, rises in unemployment and Federal debt, the budget aimed to reduce spending on social reproduction and increase stimulative spending on infrastructure. The latter was to be financed in no small part through asset recycling (privatising state assets and reinvesting the funds). This was sold as a response to a ‘budget emergency’, a narrative that over-emphasised the size of Federal debt for political effect (just as the Left/social democratic narrative denied its existence). Added to this were efforts, coordinated on a state level, to disperse points of social contestation: the construction unions, ecological protests and community opposition.

Continue reading “Not with a bang but a whimper: The End of the Mining Boom and the next Budget”

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Roads to Nowhere – Capital’s Plan A

Australia will be quite different in a few years’ time…
-Tony Abbott(2013)

The tendency is a general schema that takes as its starting point an analysis of the elements that make up a given historical situations. On the basis of that analysis, it defines a method, an orientation, a direction for mass political action (Negri, 2005, p. 27)

What does it mean to think in the conjuncture?(Althusser, 2000, p. 18)

(I have been working on this post for many months now. It has been slow going as I have only been able to commit small amounts of time to research and writing as some pretty major – and excellent – developments in my life have distracted me from my computer: namely the birth of my son who is without a doubt the major focus of my time and energy. I have been eking this piece out in half-an-hour lunch breaks at work and this I think has added to its troubled narrative. Also since becoming a father my ability to successfully construct long sentences has diminished. Perhaps this change will be seen as ‘punchy’ rather than moronic…. I also think since so much of the research of this piece has involved stepping on the terrain of dominant mainstream thought and summarising it that some of the radical elements of the critique of political economy have become muted.
Readers will probably find this piece fairly dry, structurally incoherent, and laborious but I hope useful and I intend to use it as background for more work here and political interventions published at The Word From Struggle Street.
As usual there remain far too many typos for me to be happy about but I wish to get this out in a timely matter.)

Continue reading “Roads to Nowhere – Capital’s Plan A”

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