William Saas, Jorge Amar, David Glotzer, and Scott Ferguson
This is the final part of a three-part series on Spain’s economic crisis, the program of the new leftist political party Podemos, and both the limitations and potential of the Spanish left today. This installment focuses on a possible recomposition of Podemos that could lead to the “left turn” in economic policy—including exit from the euro and the jobs guarantee—that the authors advocate. Parts 1 and 2 are available here and here.
William O. Saas is an assistant professor of rhetoric at Louisiana State University. His work has appeared in symplokē and Rhetoric & Public Affairs.
Jorge Amar is a Spanish economist, president of Asociación por el Pleno Empleo y la Estabilidad de Precios, or Full Employment and Price Stability Association), and a doctoral candidate in applied economics at the Universidad Valencia. Recently, Amar served as economic advisor for Spain’s Unidad Popular party.
David Glotzer is a valuation analyst at Solidifi, and freelance writer whose background is in Economics and Mathematics. His writings have appeared in CounterPunch, Investig’Action, Strategic Culture Foundation, and Young Progressive Voices.
Scott Ferguson is an assistant professor of humanities and cultural studies at the University of South Florida. He is also a Research Scholar at the Binzagr Institute for Sustainable Prosperity. His essays have appeared in CounterPunch, Naked Capitalism, and Flassbeck Economics International.
The Way Forward
In order to escape its cycle of debt deflation, Spain must ultimately do what its counterparts on the European “periphery” have so far failed to do: exit the eurozone. To proceed otherwise—to continue to acquiesce to the destructive rules of the institutions—is to guarantee the continued immiseration of the Spanish working class.
It is time for leaders within Unidos Podemos to pledge, in no uncertain terms, to take the steps that are necessary to restore Spain to prosperity. The most controversial of these steps will be the Spanish Left-exit, or “lexit.” Path-breakers in a lexit-oriented Unidos Podemos must anticipate and account for popular reluctance to depart the euro. With the example of UKIP’s noxious campaign for Brexit fresh in their minds, some Spaniards will doubtless view Spanish lexit as an inherently reactionary proposal. In stark contrast with UKIP, however, a lexit-oriented Unidos Podemos will be able to supplement its proposal with a roadmap for a prosperous post-euro Spanish economy, as well as a leadership that is prepared to execute the requisite sharp left-turn.