EUROZONE’S TROUBLED SOUTHERN FLANK: A LETTER TO THE ECONOMIST (August 10, 2011)

As your articles about Italy and Spain aptly show, the entire eurozone’s southern flank is in trouble (“Rabbit in Headlights” and “Anyone Want to Run this Country?” August 6, 2011). What holds for the two countries, also holds for Portugal and Greece. The politicians are at a loss when it comes to a coherent response to the region’s deepening economic crisis. But the ineptness of the leading politicians goes deeper. Much deeper. Their parties are at a loss, too. The entire political scene is proving inadequate to the problems at hand. This goes all the way to the underlying ideologies. Now that socialism has gone the way of the dodo, supporters of capitalism in its many guises are confused about the way forward. And America’s political quagmire only adds to the confusion. There, too, the key political parties have lost ideological grounding necessary for addressing a serious crisis. One way or another, anarchy looms ever larger. And so does Anarchism as the only imaginable ideological response.