Open AccessDas spanische Modell
Author(s) -
Isidro de Pablo López,
Emmanuel Rodríguez
Publication year - 2012
Publication title -
prokla
Language(s) - English
Resource type - Journals
eISSN - 2700-0311
pISSN - 0342-8176
DOI - 10.32387/prokla.v42i166.21
Subject(s) - debt , crash , order (exchange) , politics , asset (computer security) , admiration , political science , economics , debt crisis , economy , political economy , economic history , law , macroeconomics , finance , art , computer security , computer science , programming language , literature
Prior to the debacle of 2008,Spain’s economy was an object of particular admiration for Western commentators. In thecontext of the global crisis, however, Spain has been hovering on the brink of classification asa case for Eurozone bail-out, following Greece, Ireland and Portugal. We borrow from RobertBrenner’s concept of ‘asset-price Keynesianism’ in order to analyse the recent crash of theSpanish economy as well as its social and political consequences. The bursting of the Spanishbubble has torn the veil from a highly polarized social order, with a large proportion of thepopulation deep in debt, many out of work and dependent on public services doubly hit byspending cuts and privatization.