
A standard justification for the cuts to public services, the policy of prioritising the repayment of private speculator debts over funding for hospitals and schools, the policy of converting private speculator debt into sovereign debt, is that ‘we’ have lost our sovereignty, or, in a more refined version, ‘we’ have lost our ‘economic sovereignty’, as though the sovereignty of a state also operated in ways independent of the economic sphere. Let me examine what this means in a little detail. I don’t plan to go into an abstract discussion of different conceptions of sovereignty here. Instead, I want to focus on the effects achieved by this claim, which is made repeatedly by politicians of the ruling parties and the media outlets that seek to ...
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