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Arias, Xosé Carlos

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El País - Spain | 24/11/2011

Antón Costas and Xosé Carlos Arias hear the swansong of neo-liberalism

Neo-liberal economic policy is holding sway even after the 2008 financial crisis, the Spanish economists Antón Costas and Xosé Carlos Arias note with surprise in the left-liberal daily El País, hoping it will soon come to an end: "It's surprising to see what is happening with economic conservatism. Although many had expected the 2008 crisis to be its doom, like a phoenix it has risen from the ashes and is defining our countries' economic policies - now under the guise of 'austerity policy'. Given that the crisis seemed to be the chance progressive politics had been waiting for to regain control after two decades of conservative rule, this swift comeback is an intriguing fact. ... With any luck the doctrine of austerity will turn out to be the swansong of economic conservatism before it is pushed aside by a new 'New Deal' between politics and the markets. There are many reasons to hope this is the case." 

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