General Discussion
In reply to the discussion: Why have Democrats embraced neoliberalism, anyway? [View all]nbsmom
(591 posts)ne·o-lib·er·al·ism
ˌnēōˈlib(ə r(ə liz(ə m/
noun: neoliberalism
a modified form of liberalism tending to favor free-market capitalism.
"social and political issues surrounding neo-liberalism"
https://www.theguardian.com/books/2016/apr/15/neoliberalism-ideology-problem-george-monbiot
"Neoliberalism sees competition as the defining characteristic of human relations. It redefines citizens as consumers, whose democratic choices are best exercised by buying and selling, a process that rewards merit and punishes inefficiency. It maintains that the market delivers benefits that could never be achieved by planning."
And does this sound familiar?
"Neoliberal policies are everywhere beset by market failures. Not only are the banks too big to fail, but so are the corporations now charged with delivering public services. As Tony Judt pointed out in Ill Fares the Land, Hayek forgot that vital national services cannot be allowed to collapse, which means that competition cannot run its course. Business takes the profits, the state keeps the risk."