In June, Wolfgang Streeck gave this year's Adorno lectures at Frankfurt's Institute of Social Research. In his three lectures on the crisis of democratic capitalism, he explained the current financial and fiscal crises as the result of a long-term transformation in the relationship between capitalism and democracy. He showed how the tax state had become a debt state and was on its way to becoming a consolidation and austerity state. The lectures are to be published by Suhrkamp.
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