Abstract
An error has been published in:
“Fiscal crisis and creative destruction: Critical reflections on Schumpeter’s contemporary relevance” Journal of Classical Sociology in September 2012, volume 12 issue 3/4, 526-543 (
On page 540, the final paragraph of the article contains incorrect text. The penultimate sentence incorrectly reads:
Contemporary criticisms outlined by Chomsky on the respects in which government interventions have served to compensate corporations for their losses and ‘rescue collapsing financial institutions’ (2010: 105–106), Stiglitz’s comments on ‘ersatz capitalism’ in which rescue packages socialize losses and allow gains to remain privatized (2010: 135), Galbraith’s critical observation that in the ‘Predator State, nothing is done for the common good or interest of the public. To date it seems to be a matter of ‘plus ça change plus c’est la même chose’, but as Alain Badiou observes, ‘there are many signs suggesting that this reactionary period is coming to an end’ (2010: 258).
The corrected text is:
Contemporary criticisms outlined by Chomsky (2010: 105-6) on the respects in which government interventions have served to compensate corporations for their losses and ‘rescue collapsing financial institutions’, Stiglitz’s (2010: 135) comments on ‘ersatz capitalism’ in which rescue packages socialize losses and allow gains to remain privatized, Galbraith’s (2008: 147) critical observation that in the ‘Predator State, nothing is done for the common good [and that] … the men in charge do not recognize that public purposes exist’ (2008: 147), and Ferguson’s critical documentary about the financial crisis and response of ‘Wall Street government’ (2010) serve to confirm the persistence of a systemic contradiction between the capitalist economy and the common good or interest of the public. To date it seems to be a matter of ‘plus ça change plus c’est la même chose’, but as Alain Badiou observes, ‘there are many signs suggesting that this reactionary period is coming to an end’ (2010: 258).