I don’t normally promulgate articles I disagree with, but I thought this was a more or less perfect exposition of the social democratic line on the global economic disaster. The Democratic party in the US hardly identifies as social-democratic, but much of the world is governed by social-democratic parties, and so it is instructive, and worth thinking about how their line runs. In particular, how it systematically closes down discussion of systemic, structural crisis — it is up to the social democrats to rescue capitalism from itself, as the author here says explicitly:

“Not for the first time in history, the international challenge for social democrats is to save capitalism from itself: to recognise the great strengths of open, competitive markets [sic] while rejecting the extreme capitalism and unrestrained greed that have perverted so much of the global financial system in recent times.”

It’s also interesting, because the author is the current Prime Minister of Australia, Kevin Rudd.
http://www.themonthly.com.au/tm/?q=node/1421

Anyway, it may be worth dissecting the social democratic line, so worth a look for those who are interested. A bit at the end is totally Australian partisan politics, with the expected misreading of history.

The Social Democratic line

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