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Vijay Prashad at UNCTAD Public Symposium (25 June 2013)

Keynote Address: “Global Perestroika” by Mr. Vijay Prashad, Professor of International Studies, Trinity College, Hartford, USA

Regardless of the prognosis of the analyst, the prescription is always the same — “reform” and “liberalisation.”

Thirty years into this orthodox medication, it has become clear to anyone with an eye to the social costs of these policies that they are bitter and wrong-headed. Giving “markets” the run of things is tantamount to allowing congealed money power the right to do with the world as it pleases. This was well-known to Adam Smith in the 18th century, to Karl Marx in the 19th century and to John Maynard Keynes in the 20th century.

In our time, such critical assessments are hardly ever voiced. They have begun to sound like nails on a chalkboard to those who hoped that the exorcism of Keynesianism from the UN’s
corridors in the 1970s had removed such heresy.

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