Papers > By author > Bedirhanoglu Pinar

The political and class contradictions of world capitalism in the 2000s have tried to be managed, besides other policies, though household indebtedness worldwide. This process, which was precipitated by the expansionary monetary policies of the US after the 2000s, seems to come to its end today by the monetary policy changes in the US again. This paper intends to make sense of the recent authoritarian tendencies in the South within this historical context. It will thus evaluate this conjuncture within the historical development of the neoliberal financial liberalization policies since the 1980s, and problematize the political and class contradictions of widespread household indebtedness in the 2000s in the South in general and in Turkey in particular by focusing on the determining role of these contradictions on state transformation. The paper will mainly argue that the “gamble on future” that neoliberalism launched through financial liberalization policies comes to its severest stage today where the gamble is played now on the Southern states.