...the bailout of the financial system by states has temporarily stabilized the position of the banks, while guaranteeing the wealth of the financial elite. However, this has not resolved the crisis that erupted in 2008, but merely transferred it into a growing crisis over state debt.
The sovereign debt crisis and the demand that the working class pay for this debt through an unprecedented attack on living standards is creating the conditions for social revolution and renewed economic and financial collapse.
We’ve lived so long under the spell of hierarchy—from god-kings to feudal lords to party bosses—that only recently have we awakened to see not only that “regular” citizens have the capacity for self-governance, but that without their engagement our huge global crises cannot be addressed. The changes needed for human society simply to survive, let alone thrive, are so profound that the only way we will move toward them is if we ourselves, regular citizens, feel meaningful ownership of solutions through direct engagement. Our problems are too big, interrelated, and pervasive to yield to directives from on high.
—Frances Moore Lappé, excerpt from Time for Progressives to Grow Up