by Shawn Hattingh

Since 2009 the US state has been undertaking Quantitative Easing (QE), which has involved the US state creating $ 85 billion a month, effectively electronically printing money out of thin air, and linking this to the “purchasing” of paper assets like US government bonds and also more importantly mortgaged backed securities from banks, hedge funds, private equity firms, and asset management companies, which lost their value when the capitalist crisis hit hard in 2008. Through this, these financial institutions and banks have been given up to $ 85 billion a month for the last five years. Much of this money has been used by these corporations to increase their speculative activity, including speculating on government bonds sold by the likes of the South African, Brazilian, Argentinean, and Turkish states. Now the US state has been looking to start tapering QE and speculators as a result are exiting these government bond markets. As this article explores it will probably not be the ruling class (capitalists and top state officials) that suffer the worst convulsions associated with tapering, although they may be affected, but the working class in countries such as South Africa, Brazil, Indonesia, India, Argentina and Turkey. This article examines why and how this could take place, how ruling classes from different countries are trying to protect themselves; and why and how the working class will in all likelihood be worst hit. In order to, however, understand how the class war around QE is unfolding it is important first to look at the role states have played during the crisis, along with the competition that exists between states.

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by Lucien van der Walt

Politikon, 2013, Vol. 40, No. 2, 339 – 349

ABSTRACT Examining the theory and practice of ‘mass’ anarchism and syndicalism, this paper argues against Daryl Glaser’s views that workers’ council democracy fails basic democratic benchmarks and that, envisaged as a simple instrument of a revolution imagined in utopian ‘year zero’ terms, it will probably collapse or end in ‘Stalinist’ authoritarianism—Glaser also argues instead for parliaments, supplemented by participatory experiments. While agreeing with Glaser on the necessity of a ‘democratic minimum’ of pluralism, rights, and open-ended outcomes, I demonstrate, in contrast, that this ‘minimum’ is perfectly compatible with bottom-up council democracy and self- management, as envisaged in anarchist/syndicalist theory, and as implemented by anarchist revolutions in Manchuria, Spain and Ukraine. This approach seeks to maximise individual freedom through an egalitarian, democratic, participatory order, developed as both means and outcome of revolution; it consistently insists that attempts to ‘save’ revolutions by suspending freedoms, instead destroy both. Parliament, again in contrast to Glaser, from this perspective, meets no ‘democratic minimum’, being part of the state, a centralized, unaccountable institutional nexus essential to domination and exploitation by a ruling class of state managers and capitalists. Rather than participate in parliaments, ‘mass’ anarchism argues for popular class autonomy from, and struggle against, the existing order as a means of winning economic and political reforms while—avoiding ‘year zero’ thinking—also building the new society, within and against, the old, through a prefigurative project of revolutionary counter-power and counter-culture. Revolution here means the complete expansion of a bottom-up democracy, built through a class struggle for economic and social equality, and requiring the defeat of the ruling class, which is itself the outcome of widespread, free acceptance of anarchism, and of a pluralistic council democracy and self-management system.

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