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Daniela Gabor Profile picture
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Jan 20 • 4 tweets • 2 min read
roll out Wall Street Consensus, in full glow at #WEF23
the US derisking state and its cheerleaders
few in the US appreciate how important Europe has been in unleashing the US turn to derisking - this is where global financiers waged battle against mandatory decarbonisation and won

the more fascinating question is why Europe gets more incensed by US turn to green derisking, when China has been nurturing domestic cleantech champions for at least a decade -

Germany surely remember the 'market not industry' approach of its solar policy

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More from @DanielaGabor

Daniela Gabor Profile picture
Jan 19
There are few images that capture better the political economy of contemporary Romania than Orthodox Cathedral next to Ceausescu's House of People - both monstrosities built to be visible from space by deranged people with oversized influence on domestic politics
The vicious feedback loop Parliament - Orthodox Church elite

Derisking God, a Romanian state speciality
Read 5 tweets
Daniela Gabor Profile picture
Jan 16
Immense sadness today.
Prof. Victoria Chick, the giant of Post Keynesian economics, has left us.
A brilliant mind, imposing, witty and irreverent woman of immense generosity, we will miss you dear Vicky.
Vicky has been so important to my and many other's academic life - she was that unusual combination of a monetary theorist and monetary historian that could casually cite a 1953 report of some Committee in a conversation about securitization
but more importantly, she was the kind of friend whom you could call at 11am to ask to for emergency overnight stay, and she would not just say yes, but treat you to a 3 hour conversation on repo markets over a bottle of wine.
Read 7 tweets
Daniela Gabor Profile picture
Jan 13
on my last official day at @RIPEJournal very pleased to see this paper out, calling on IR scholars to follow RIPE into researching financial capitalism in all its (fossil) glory
@RIPEJournal this is a crazy graph.

also this paper is prompting me to write a 'Susan Strange was a critical macrofinance scholar' piece, now that I will have all that post @RIPEJournal time on my hands :)
Read 4 tweets
Daniela Gabor Profile picture
Jan 4
remember the global green rush for hydrogen?

with @nssylla we wrote about Cheikh Anta Diop's 1985 (!) dreams of an African-led green hydrogen revolution and what it would take to realise it today

bostonreview.net/articles/dream…
@nssylla the problem with the derisking approach preferred by the EU (green hydrogen partnerships) or the US?

it's not serious about reviving the developmental/transformative capacity of the (african) state: the derisking state is a minimal, price-signal shifting state Image
to think about political economy of green hydrogen, we take Thandika Mkandawire to Namibia, an excellent case study of ideologically developmentalist, structurally derisking state.

punchline: the green developmental state must abandon industrialization-by-invitation de-risking
Read 6 tweets
Daniela Gabor Profile picture
Jan 3
when a US public university props up the world's largest institutional landlord while handwaving about racism and structural forms of oppression Image
University of California is propping up BREIT - the real estate fund we all got excited about in December as a signal that Blackstone's reign as the world largest institutional landlord was under pressure
BREIT profits for Blackstone are eyewatering
Read 8 tweets
Daniela Gabor Profile picture
Jan 1
if you ever wondered abt historical origins of World Bank's push for #WallStreetConsensus, look at its interventions in Zambia energy:

WB strong-armed Zambian government into hydropower that would circumvent sanctions on “racist [white] minority regime in Southern Rhodesia”
when does the World Bank supports state-owned companies?
only when they are Trojan horses for financing white colonial power.
60 years later, the World Bank is peddling the same myth - that infrastructure policy is industrial policy - with the same political economy aim: to weaken developmental states (in Africa)
Read 4 tweets

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