The Strange Non-Death of Neoliberalism: A Review

The Strange Non-death of Neo-liberalism

by Colin Crouch

4.4 out of 5

Language	:	English
File size	:	700 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	214 pages
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Neoliberalism, a political and economic ideology that has dominated the global landscape for decades, is facing a crisis of legitimacy. Its tenets of free markets, deregulation, and privatization have been widely criticized for exacerbating inequality, eroding democracy, and contributing to environmental degradation.

Despite this mounting evidence of its shortcomings, neoliberalism refuses to die. It continues to be the dominant ideology of the world's most powerful institutions, including the International Monetary Fund, the World Bank, and the World Trade Organization. It is also the ideology of choice for many governments, both in the developed and developing world.

So what explains the strange non-death of neoliberalism? There are a number of factors that have contributed to its resilience. These include:

• The power of vested interests: Neoliberalism has created a powerful class of winners who have a vested interest in its continued existence. These include the wealthy, the corporations, and the financial institutions.
• The lack of a viable alternative: Neoliberalism's critics have been unable to agree on a coherent alternative to it. This has made it difficult to build a broad-based movement for change.
• The resilience of neoliberal ideas: Neoliberal ideas have become deeply embedded in our culture. They are taught in schools and universities, and they are reinforced by the media. This makes it difficult to challenge them.

The continued presence of neoliberalism is a major threat to our societies. It is an ideology that is based on the belief that the market is always right, even when it is clear that it is not. It is an ideology that has led to growing inequality, social unrest, and environmental degradation.

We need to find a way to overcome neoliberalism and create a more just and sustainable world. This will not be easy, but it is essential if we want to build a better future for our children.

The Rise and Fall of Neoliberalism

Neoliberalism emerged in the 1970s as a response to the economic crisis of that decade. The Keynesian policies that had been used to manage the economy since the Great Depression were no longer working. Inflation was rising, unemployment was high, and economic growth was stagnant.

Neoliberalism offered a different approach to economic management. It argued that the government should play a smaller role in the economy, and that the market should be allowed to operate more freely. It also advocated for deregulation, privatization, and free trade.

Neoliberalism was initially very successful. It helped to bring down inflation and unemployment, and it led to a period of strong economic growth. However, the benefits of neoliberalism were not evenly distributed. The wealthy and the corporations benefited the most, while the poor and the working class saw their incomes stagnate or decline.

In the 2008 financial crisis, the failures of neoliberalism became all too clear. The crisis was caused by the deregulation of the financial industry, which led to a housing bubble and a subsequent collapse. The crisis caused a deep recession and led to widespread unemployment.

The 2008 financial crisis marked a turning point for neoliberalism. It showed that the ideology was not able to deliver on its promises of prosperity and stability. Since then, neoliberalism has been in decline.

The Future of Neoliberalism

The future of neoliberalism is uncertain. It is possible that the ideology will continue to decline, and that it will eventually be replaced by a more just and sustainable alternative. However, it is also possible that neoliberalism will remain the dominant ideology for many years to come.

The future of neoliberalism will depend on a number of factors, including the strength of the opposition to it, the ability of its critics to develop a viable alternative, and the willingness of the public to embrace change.

If we want to build a more just and sustainable world, we need to find a way to overcome neoliberalism. This will not be easy, but it is essential if we want to create a better future for our children.

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The Strange Non-death of Neo-liberalism

by Colin Crouch

4.4 out of 5

Language	:	English
File size	:	700 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	214 pages
Lending	:	Enabled

FREE