Drudge Retort: The Other Side of the News
Monday, December 17, 2018

Neoliberalism is a term which is shunned by the mass media and confuses the voting public. Voters cannot grasp what is good or bad for themselves under Cruz, Trump, Clinton or Sanders, except personality distractions. To what extent does each of them agree or disagree with neoliberalism? Do conventional distinctions like liberal versus conservative, or Democrat versus Republican, help us to understand the world we live in? Neoliberalism believes that markets are self-sufficient, that they do not need regulation, and that they are the best guarantors of human welfare. Under the neoliberal revolution of the law persons have no status compared to corporations, nation-states are out, and everything dissolves before the abstraction of the market. Neoliberalism presumes a strong state, working only for the benefit of the wealthy, and has little pretence to neutrality or universality. It treats the market as the ultimate and only myth, as were the gods of the past.

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Under the Keynesian paradigm markets were understood to be inherently unstable, and the interventionist hand of government, in the form of countercyclical policy, was necessary to make capitalism work, otherwise the economy had a tendency to get out of whack and crash. Neoliberalism is not classical liberalism, because the market is not really free and dynamic in the classical liberal idealized sense. Neoliberalism thrives on chaos, which Trump and BushII provide in spades. Neoliberalism coincides with technological change on a scale that penetrates human consciousness completely for the first time in human history. It is not clear whether stagflation or Milton Friedman ended classical liberalism. What is clear is that neoliberalism thrives on prompting crisis after crisis, exploits each crisis to its benefit, which then makes the situation worse, so that each succeeding crisis only erodes the power of the working class and makes the wealthy wealthier. It continues to thrive because the working public is completely unaware of the transition, since most Americans still enjoy some of the benefits of Keynesian classical economic planning. Neoliberalism has been more successful than most past ideologies in redefining subjectivity, in making people alter their sense of themselves, their personhood, their identities, their hopes and expectations and dreams and idealizations. Classical liberalism was more successful in shaping people than communism or fascism.

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"Neoliberalism or neo-liberalism[1] is the 20th-century resurgence of 19th-century ideas associated with laissez-faire economic liberalism and free market capitalism.[2]:7[3]

Those ideas include economic liberalization policies such as privatization, austerity, deregulation, free trade[4] and reductions in government spending in order to increase the role of the private sector in the economy and society.[12]

These market-based ideas and the policies they inspired constitute a paradigm shift away from the post-war Keynesian consensus which lasted from 1945 to 1980.[13][14]"

en.wikipedia.org

Or, the GOP since Reagan and Irving Kristol's Starve the Beast. It is trusting corporations and wealth rather than werking to have a gov of, by, and for the People.

#1 | Posted by Corky at 2018-12-17 12:27 PM | Reply | Newsworthy 1

"Neoliberalism believes that markets are self-sufficient, that they do not need regulation, and that they are the best guarantors of human welfare."

Oh so it's a new name for economic liberalism.

It's laissez faire Capitalism.

Just imagine how deluded and ignorant of history you'd have to be to believe that markets guarantee welfare.

"The purpose of the market is to redistribute wealth from the many to the few." -- Peter L. Brandt mobile.twitter.com

#2 | Posted by snoofy at 2018-12-17 12:29 PM | Reply | Newsworthy 2

Another good article by BayViking!👍

#3 | Posted by PunchyPossum at 2018-12-18 12:56 AM | Reply

"Neoliberalism is a term which is shunned by the mass media and confuses the voting public."

When we still have people in this country trying to equate the Democrats of the Civil War era with the party as it exists today there's no way on earth that people are going to be able to understand the distinction between neoliberalism and liberalism.

#4 | Posted by Hagbard_Celine at 2018-12-18 08:38 AM | Reply

"Neoliberalism coincides with technological change on a scale that penetrates human consciousness completely for the first time in human history."

Sort of like Plato writing books in a literate society?

What we need is neo-centrism, since neo-liberalism and neo-conservatism aren't catching on. Maybe the AI's can help?

And snoofy hits another one out of the ball bark. NW.

#5 | Posted by HeliumRat at 2018-12-18 04:38 PM | Reply

While it's very close to laissez faire Capitalism, its not the same, because neoliberalism definately includes State intervention on many level on behalf of profit seeking Corporations.

#6 | Posted by bayviking at 2018-12-18 06:02 PM | Reply

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