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How Neoliberalism Ate Itself And What Comes Next

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Published in Dead Right: How Neoliberalism Ate Itself And What Comes Next

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Dead Right: How Neoliberalism Ate Itself and What Comes Next

by Richard Denniss

4.6 out of 5

Language	:	English
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Print length	:	98 pages

Neoliberalism is a political and economic ideology that emphasizes free markets, deregulation, and privatization. It has been the dominant ideology in the United States and other developed countries since the 1980s.

Neoliberalism is based on the belief that the free market is the best way to allocate resources and promote economic growth. Neoliberal policies have included reducing government regulation of businesses, privatizing state-owned industries, and promoting free trade.

Neoliberalism has been credited with promoting economic growth and reducing inflation. However, it has also been criticized for leading to rising inequality, stagnant wages, and environmental destruction.

In recent years, neoliberalism has come under increasing attack from both the left and the right. Critics on the left argue that neoliberalism has led to a concentration of wealth and power in the hands of the few. They also argue that neoliberalism has undermined democracy and eroded public trust.

Critics on the right argue that neoliberalism has led to a decline in social cohesion and a loss of national identity. They also argue that neoliberalism has made it more difficult for governments to provide essential services.

The global financial crisis of 2008 was a major turning point in the history of neoliberalism. The crisis exposed the flaws in the neoliberal model and led to a widespread loss of faith in free markets.

In the wake of the crisis, there has been a growing movement for an alternative to neoliberalism. This movement has been called many things, including the alter-globalization movement, the anti-capitalist movement, and the degrowth movement.

The alter-globalization movement is a network of activists and organizations that oppose the policies of the World Bank, the International Monetary Fund, and the World Trade Organization. The movement argues that these policies have led to increased poverty and inequality around the world.

The anti-capitalist movement is a more radical movement that seeks to overthrow the capitalist system. Anti-capitalists argue that capitalism is a system that is based on exploitation and oppression.

The degrowth movement is a movement that advocates for a reduction in economic growth. Degrowth activists argue that economic growth is unsustainable and that it is leading to environmental destruction.

These three movements are part of a growing wave of opposition to neoliberalism. They are all calling for a new economic and political system that is more just, sustainable, and democratic.

What Comes Next?

It is still too early to say what will replace neoliberalism. However, there are a number of ideas that are gaining traction. These include:

A Green New Deal: A Green New Deal is a plan to invest in renewable energy, energy efficiency, and other measures to address climate change. A Green New Deal would also create millions of jobs and help to reduce inequality.
Universal basic income: Universal basic income is a government program that would provide every citizen with a regular sum of money. Universal basic income would help to reduce poverty and inequality and would give people more freedom to choose how they live their lives.
Participatory economics: Participatory economics is an economic system that is based on democratic decision-making. Participatory economics would give workers more control over their workplaces and would help to reduce inequality.

These are just a few of the ideas that are being discussed as possible alternatives to neoliberalism. It is still too early to say which of these ideas will be successful. However, it is clear that the world is ready for a change.

Neoliberalism has failed. It has led to rising inequality, stagnant wages, environmental destruction, and a decline in democracy. We need a new economic and political system that is more just, sustainable, and democratic.

The future is uncertain. But one thing is for sure: neoliberalism is dead. It is up to us to create a new world.

Dead Right: How Neoliberalism Ate Itself and What Comes Next

by Richard Denniss

4.6 out of 5