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Bigmack

(8,020 posts)
Sat Jun 18, 2016, 10:26 PM Jun 2016

Neoliberalism is dying....

I was reading this thread on DU.. titled
"Neoliberalism Will Soon Force Americans to Leave the United States"
http://www.democraticunderground.com/10027929368

Later, I was reading this piece in the Guardian. Maybe we don't have to leave..maybe neoliberalism is on its way out.

"....it is the very technocrats in charge of the system who are slowly, reluctantly admitting that it is bust.

You hear it when the Bank of England’s Mark Carney sounds the alarm about “a low-growth, low-inflation, low-interest-rate equilibrium”. Or when the Bank of International Settlements, the central bank’s central bank, warns that “the global economy seems unable to return to sustainable and balanced growth”. And you saw it most clearly last Thursday from the IMF.
What makes the fund’s intervention so remarkable is not what is being said – but who is saying it and just how bluntly. In the IMF’s flagship publication, three of its top economists have written an essay titled “Neoliberalism: Oversold?”.
The very headline delivers a jolt. For so long mainstream economists and policymakers have denied the very existence of such a thing as neoliberalism, dismissing it as an insult invented by gap-toothed malcontents who understand neither economics nor capitalism. Now here comes the IMF, describing how a “neoliberal agenda” has spread across the globe in the past 30 years. What they mean is that more and more states have remade their social and political institutions into pale copies of the market."

http://www.theguardian.com/commentisfree/2016/may/31/witnessing-death-neoliberalism-imf-economists

14 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Neoliberalism is dying.... (Original Post) Bigmack Jun 2016 OP
Not soon enough. appalachiablue Jun 2016 #1
Not soon enough Warpy Jun 2016 #2
Don't I wish. SheilaT Jun 2016 #3
True. Unfortunately Donald will bring back ........ ? Reaganomics? Hoover-onomics? pampango Jun 2016 #13
It's quite alive in the candidacy of the Democratic presumptive nominee. AtomicKitten Jun 2016 #4
Congrats on 8,000 posts! bigwillq Jun 2016 #5
The other side of the coin is that Neo-Lib may be working exactly as intended Hydra Jun 2016 #6
That is always a possibility. zeemike Jun 2016 #7
It's a funny thing Hydra Jun 2016 #8
Certainly a possibility. Of course, good ol' conservative economics did the same before FDR pampango Jun 2016 #14
This is what I've long thought... Wounded Bear Jun 2016 #12
I certainly hope so. roamer65 Jun 2016 #9
It took long enough rusty quoin Jun 2016 #10
Good riddance to bad rubbish. Triana Jun 2016 #11

pampango

(24,692 posts)
13. True. Unfortunately Donald will bring back ........ ? Reaganomics? Hoover-onomics?
Sun Jun 19, 2016, 07:19 AM
Jun 2016

Not a great choice!

Hydra

(14,459 posts)
6. The other side of the coin is that Neo-Lib may be working exactly as intended
Sat Jun 18, 2016, 11:44 PM
Jun 2016

Suck the money out of the workers, then kill them off by starvation. Who needs them now? They have automation to provide all their needs and a fair sized pool of servants to abuse.

zeemike

(18,998 posts)
7. That is always a possibility.
Sun Jun 19, 2016, 12:08 AM
Jun 2016

Because what characterizes them more than anything is contempt for the "little people".
And it could explain why they are hell bent on starting war around the world and stirring up conflict at every level of society.

Hydra

(14,459 posts)
8. It's a funny thing
Sun Jun 19, 2016, 12:17 AM
Jun 2016

Their contempt is probably heartfelt, but it's also probably a nagging feeling that they are not as awesome as they pretend to be. They give each other awards and talk about "legacies" in an endless circle jerk while working people build and maintain the world they depend on.

I think Orwell really nailed it in 1984 when he reveals the people in charge would rather have a low standard of living than give up their status of being above the law and causing hellish misery to people.

pampango

(24,692 posts)
14. Certainly a possibility. Of course, good ol' conservative economics did the same before FDR
Sun Jun 19, 2016, 07:38 AM
Jun 2016

came along. Under Harding, Coolidge and Hoover income inequality and desperation of the 'little people' reached levels that we still have not surpassed even today - though we are awfully close. The HCH boys got us there with good ol' conservative policies - union busting, tax cuts for the rich, deregulation and high tariffs. FDR reversed all of that.

Trump seems to want to go back to the ol' HCH days in terms of his economics. Those days were 'good' only for the 1%. We need to return to the genuine liberalism of FDR.

Wounded Bear

(58,436 posts)
12. This is what I've long thought...
Sun Jun 19, 2016, 02:29 AM
Jun 2016

the income inequality and wealth redistribution that comes out of neo-liberalism is not a bug, it is a design feature.

It is working exactly as planned, and quite well, thank you.

 

rusty quoin

(6,133 posts)
10. It took long enough
Sun Jun 19, 2016, 01:22 AM
Jun 2016

Their arguments are crazy. In a post Rush Limbaugh world, I would outlaw brainwashing through radio.

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