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    The Budget Deal and Neoliberalism: The U.S. and South African Connection

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    Capitalism has made good use of the world’s two most prominent Black men. Barack Obama and Nelson Mandela served as the faces that defused Black opposition to the neoliberal agenda. “What mattered in South Africa in the 90s as it does in the U.S. today is a relatively stable environment in which state power is used to realize the interests of national and international capital.”

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    President Obama’s State of the Union address makes it official: the 2012 election has brought us back to 2011, when the outlines of his grand bargain with the Republicans became clear. In his vision for future, “austerity in people’s programs is traded for tax breaks for corporations that will, in totally discredited theory, bring back the jobs they had outsourced overseas.”

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