ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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New Europe A Labour Perspective

Werner Bonefeld The Single European Currency in National Perspective, edited by Bernard H Moss and Jonathan Michie; Macmillan, London, 1998;

Politics of European Monetary Union-Class, Ideology and Critique

Class, Ideology and Critique Werner Bonefeld The European Monetary Union has to be looked at against the background of the crisis-ridden development of capital accumulation since the early 1970s. The attempt at creating a zone of monetary stability in Europe and the worldwide crisis of capitalist accumulation belong together. EMU amounts to an institutional attempt at buttressing domestic policies of austerity with a supranational anchor and the establishment of an anti- inflationary police force that seeks to protect member states from speculative runs by securing the right of private property internally, It moreover seeks to de-politicise the attack on labour movements and to reinforce and exploit its regional and national fragmentation.

New Left and Politics of Novelty

Werner Bonefeld Liberalism has always had great trust in the power of the market, a trust so great that it abandoned the study of the social constitution of the market by claiming it was governed by an invisible hand. Marx, and the tradition based on his writings, provided a critique of invisible principles. This critique has been abandoned by theories of globalisation, New left inquiries, the politics of novelty, have become part and parcel of neo-liberalism's worship of invisible principles.

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