Dr. Conor McCabe spoke at an anti-austerity meeting about who benefits from austerity. He discussed how financialization has increased the importance of financial markets and institutions in the economy. Since the 1970s, there has been a monetarist revolution, a war on labor in the 1980s, and credit being used as a wage substitute in the 1990s and 2000s. Currently, there is open conflict over monetary policy again. Kathleen Lynch then discussed how equality bodies in Ireland have faced budget cuts or been closed, including the Combat Poverty Agency, Equality Authority, and supports for travelers, women's refuges, and people with disabilities. She said those who benefit from austerity are those involved

1. Who Benefits from Austerity?
Anti-Austerity Alliance meeting, Teachers’ Club, 11 January 2014
Dr. Conor McCabe, Equality Studies
Centre, UCD School of Social Justice

6. Financialization refers to the increasing importance
of financial markets, financial motives, financial
institutions and financial elites in the operation of
the economy and its governing institutions, both at
the national and international levels.
Gerald Epstein, ‘Financialization, Rentier Interests, and Central Bank Policy’,2002
1970s – The Monetarist revolution
1980s – war on labour
1990s – Credit as a substitute for wage increases
2000s – Credit solution for wage stagnation fails
Present day – open conflict over monetary policy once again

26. Closing down of Dissent - Attacks on Equality in Ireland
Equality Bodies – closed down or with reduced Budgets
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Combat Poverty Agency –closed 2008 incorporated into the Department of Social Protection
Equality Authority – 2009 43% cut and now being merged with the Human Rights Commission
Women’s Health Council – closed 2009
Crisis Pregnancy Agency – closed and merged with the Health Service Executive
Irish Human Rights Commission -Budget cuts since 2009 and merged with Equality Authority
Equality for Women Measure - co-funded by EU Operational Programme ---budget partly transferred out of
this area and now under Dept. For Enterprise, Trade and Employment
National Consultative Committee on Racism and Interculturalism (NCCRI) _Closed 2009
Gender Equality desk at the Department (Ministry) of Justice, Equality and Law Reform – Desk Closed 2009
Gender Equality Unit – Department of Education – Closed early 2000s
Higher Education Equality Unit – UCC -Closed and merged into Higher Education Authority (early 2000s)
National Women’s Council of Ireland -158 member organisations- budget cuts of 15% in 2008-11 and 38% in
2012
Traveller Education cutbacks 2011 and 2012 – all 42 Visiting teaches for Travellers removed*
Rape Crisis Network Ireland – core Health Authority Funding removed 2011
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SAFE Ireland network of Women’s’ Refuges - core Health Authority Funding removed 2011
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People With Disabilities in Ireland's (PWDI) - funding removed 2012
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National Carers’ Strategy – abandoned 2009
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Kathleen Lynch, Equality Studies UCD
School of Social Justice
26

28. 1.Tax avoidance (national and international)
2.FIRE industries (Finance, Insurance, Real
Estate)
3.Privatization of public resources and
services