Link of the Day: American sociologist James Petras writes that the Left and Centre-Left political regimes in the Western world are “paying a high electoral price for sacrificing the working class in order to save the bankers,” as they have been doing in face of the economic meltdown. Read his article The Democratic Party Debacle and the Demise of the Left-Center Left: A Worldwide Trend.
“The November 2, 2010 electoral debacle of the Democratic Party in the US cannot be solely ascribed to the failed policies of President Obama, the Congressional leadership or their senior economic advisers…. The Left-Center Left regimes are paying a high electoral price for sacrificing the working class in order to save the bankers: Obama’s recent electoral defeat is only a forerunner of future losses for the Spanish, Greek, Portuguese Socialists and other L-CL regimes. Their austerity policies have led them to ‘fall between two chairs’: They alienate workers and strengthen the capitalist class, which already has its own ‘natural’ conservative capitalist parties. The ‘hard right’ everywhere is advancing, sensing the debacle of the center-left as an opportunity to deepen and widen the frontal assault on labor rights, social welfare and any semblance of legal protection.”