by Tesni Clare
It’s not an original idea: opportunistic, peripatetic capitalism works by capitalising on its own crises. The idea rings even truer for neoliberal capitalism.
It’s what Naomi Klein has dubbed ‘disaster capitalism’. Amidst public disorientation following a crisis, control is achieved by the imposition of economic shock therapy, or in other words, economic liberalisation – public spending is withdrawn, large scale privatisation occurs, and disaster is transformed into a shiny new investment. Private contractors move in, gobble up funding for their efforts to ‘clean up’, and billions get cut from government budgets.