Jacobin Radio

Dig: Counterrevolution w/ Melinda Cooper

Oct 1, 2025
Melinda Cooper, a sociologist and author of "Counter-Revolution: Extravagance and Austerity in Public Finance," dives into the fiscal and monetary dimensions of neoliberalism. She describes how asset-driven capitalism arose post-1970s crisis, emphasizing tax cuts and anti-inflation policies that prioritized asset appreciation. Cooper explores the detrimental effects of class hierarchies fueled by property ownership, the cultural politics of the tax revolt, and the evolving dynamics of unions. This rich discussion connects economic shifts to broader social consequences.
Ask episode
AI Snips
Chapters
Books
Transcript
Episode notes
INSIGHT

Counter-Revolution Targets Social Gains

  • Neoliberal counter-revolution meticulously rolled back 1960s–70s left gains through fiscal and monetary instruments.
  • Melinda Cooper argues these economic moves also enforced gender, sexual, and racial hierarchies.
INSIGHT

Asset Subsidies Replace Wage Growth

  • The state now subsidizes asset inflation while suppressing wages and the social wage.
  • Cooper calls the current phase “revolutionary conservatism” where anti-state forces run the state.
INSIGHT

1970s Crisis Threatened Capital's Discipline

  • The 1970s crisis was systemic: rising labor power and a stronger social wage threatened capital's discipline.
  • Schumpeter and Kalecki warned that a powerful fiscal state could enable fiscal redistribution or revolution.
Get the Snipd Podcast app to discover more snips from this episode
Get the app