Summary
The principles (Williamson 1989) according to which, in Grinberg’s account, the radical neo-liberal policy imposed in Israel in 1985 as the counter-mo(ve)ment to the powerful workers’ resistance was designed — aiming to halt hyperinflation and weaken all organized labor, a historic turning point that structurally dismantled worker power (Moments of Resistance, PDF p.183-184).
Details
- Grinberg’s political-economy account of inflation diverges from the monetarist and cost-push theories the consensus-era economists used: inflation reflected the uneven balance of power among state, capital and organized workers and the state’s lack of autonomy, so its solution was political, with no single prescription (PDF p.192).
- The economists’ success in politics is itself explained politically: presenting their actions as professional and a-political was, on Grinberg’s account, a conscious strategy (Williamson 1994 on “technopols”; Fourcade 2009) (PDF p.193, note 12).
Related pages
Moments of Resistance, Emergency Economic Stabilization Plan, Split Corporatism, Forum/13