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The Scourge of Neoliberalism

Author: Jack Rasmus

Publisher: Clarity Press

Published: 2020

Total Pages: 0

ISBN-13: 9781949762037

While the capitalist system has undergone numerous restructurings throughout its history, the capitalist elites' purpose in elaborating these changes has remained the same: to restore and/or extend their hegemony over domestic class and global challengers. The current systemic designation, operative since 1978, is "neoliberalism," deployed to obfuscate what in actuality is US imperialism and domestic class warfare. The Scourge of Neoliberalism describes the origins and evolution of the specifically American form of Neoliberalism. Its expansionary phase--from 1978 to 2008--was disrupted by the global crash and crisis of 2008-09 and was only partially restored by the Obama regime thereafter. Trump's attempt to resuscitate Neoliberalism has led to the emergence of a new, more aggressive and virulent form which, despite some gains, is nonetheless a destabilizing policy regimen destined to break down with the next global economic crisis, which is likely occur by 2020. The political consequences of US neoliberal policy evolution and restoration efforts have led, on the one hand, to the breakdown of government institutions, the decline of mainstream political parties, the atrophy of democratic practices, rights and values, and attacks on civil liberties, and on the other to the embedding of the Neoliberal credo that business tax cuts create jobs, free trade benefits all, low interest rates generate investment, entitlement programs are the cause of government deficits, markets are always efficient, recessions are caused by external shocks to an otherwise stable equilibrium system, and similar empirically unverifiable propositions. In describing the evolution of Neoliberal policies from Reagan through Clinton, the Bushes, Obama, and Trump presidencies, Rasmus shows how they have played a central enabling role in the financialization of the US capitalist economy, in its ever-growing income and wealth inequality gaps, and in the increasing polarization of US society and polity.

The US Economy and Neoliberalism

Author: Nikolaos Karagiannis

Publisher: Routledge

Published: 2013-03-12

Total Pages: 246

ISBN-13: 1135097607

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In recent times, policy makers, scientists, academics and commentators have become increasingly nervous about the US economic downturn. Discussions have centred around the range and magnitude of the country’s socio-economic problems, its vexing production decline and its unsatisfactory macroeconomic performance, which give rise to the following questions: what are the sources of this recent downfall? And can this situation be reversed by pursuing the same orthodox and neoliberal policies? This new edited volume, from a top international set of contributors, seeks to answer these questions and to offer alternative, realistic and feasible strategies and policy recommendations towards reversing this situation. In particular, the volume seeks to challenge US neoliberalism on theoretical and political grounds, and to offer alternative strategies and policies towards addressing the country’s recent challenges and multi-dimensional problems. The volume is structured around three main themes: The return of government: Philosophical issues and ethics Economic policies for sustainable growth and prosperity Financial fragility and alternative monetary policy proposals This unique and highly topical, multidisciplinary volume, will be of great interest to students and researchers in the areas of economics, political economy and contemporary US politics.

A Brief History of Neoliberalism

Author: David Harvey

Publisher: OUP Oxford

Published: 2007-01-04

Total Pages: 256

ISBN-13: 019162294X

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Neoliberalism - the doctrine that market exchange is an ethic in itself, capable of acting as a guide for all human action - has become dominant in both thought and practice throughout much of the world since 1970 or so. Its spread has depended upon a reconstitution of state powers such that privatization, finance, and market processes are emphasized. State interventions in the economy are minimized, while the obligations of the state to provide for the welfare of its citizens are diminished. David Harvey, author of 'The New Imperialism' and 'The Condition of Postmodernity', here tells the political-economic story of where neoliberalization came from and how it proliferated on the world stage. While Thatcher and Reagan are often cited as primary authors of this neoliberal turn, Harvey shows how a complex of forces, from Chile to China and from New York City to Mexico City, have also played their part. In addition he explores the continuities and contrasts between neoliberalism of the Clinton sort and the recent turn towards neoconservative imperialism of George W. Bush. Finally, through critical engagement with this history, Harvey constructs a framework not only for analyzing the political and economic dangers that now surround us, but also for assessing the prospects for the more socially just alternatives being advocated by many oppositional movements.

The Scourge of Neoliberalilsm

Author: Jack Rasmus

Publisher: SCB Distributors

Published: 2020-01-15

Total Pages: 324

ISBN-13: 1949762041

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"Rasmus excels at economic history... The Scourge is a powerful, important book. We ignore it at our peril." David Baker, Zmag While the capitalist system has undergone numerous restructurings throughout its history, the capitalist elites’ purpose in elaborating these changes has remained the same: to restore and/or extend their hegemony over domestic class and global challengers. The current systemic designation, operative since 1978, is “neoliberalism,” deployed to obfuscate what in actuality is US imperialism and domestic class warfare. The Scourge of Neoliberalism describes the origins and evolution of the specifically American form of Neoliberalism. Its expansionary phase—from 1978 to 2008—was disrupted by the global crash and crisis of 2008-09 and was only partially restored by the Obama regime thereafter. Trump’s attempt to resuscitate Neoliberalism has led to the emergence of a new, more aggressive and virulent form which, despite some gains, is nonetheless a destabilizing policy regimen destined to break down with the next global economic crisis, which is likely occur by 2020. The political consequences of US neoliberal policy evolution and restoration efforts have led, on the one hand, to the breakdown of government institutions, the decline of mainstream political parties, the atrophy of democratic practices, rights and values, and attacks on civil liberties, and on the other to the embedding of the Neoliberal credo that business tax cuts create jobs, free trade benefits all, low interest rates generate investment, entitlement programs are the cause of government deficits, markets are always efficient, recessions are caused by external shocks to an otherwise stable equilibrium system, and similar empirically unverifiable propositions. In describing the evolution of Neoliberal policies from Reagan through Clinton, the Bushes, Obama, and Trump presidencies, Rasmus shows how they have played a central enabling role in the financialization of the US capitalist economy, in its ever-growing income and wealth inequality gaps, and in the increasing polarization of US society and polity

Globalists

Author: Quinn Slobodian

Publisher: Harvard University Press

Published: 2020-04-07

Total Pages: 401

ISBN-13: 0674244842

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George Louis Beer Prize Winner Wallace K. Ferguson Prize Finalist A Marginal Revolution Book of the Year “A groundbreaking contribution...Intellectual history at its best.” —Stephen Wertheim, Foreign Affairs Neoliberals hate the state. Or do they? In the first intellectual history of neoliberal globalism, Quinn Slobodian follows a group of thinkers from the ashes of the Habsburg Empire to the creation of the World Trade Organization to show that neoliberalism emerged less to shrink government and abolish regulations than to redeploy them at a global level. It was a project that changed the world, but was also undermined time and again by the relentless change and social injustice that accompanied it. “Slobodian’s lucidly written intellectual history traces the ideas of a group of Western thinkers who sought to create, against a backdrop of anarchy, globally applicable economic rules. Their attempt, it turns out, succeeded all too well.” —Pankaj Mishra, Bloomberg Opinion “Fascinating, innovative...Slobodian has underlined the profound conservatism of the first generation of neoliberals and their fundamental hostility to democracy.” —Adam Tooze, Dissent “The definitive history of neoliberalism as a political project.” —Boston Review

Neoliberalism and U.S. Foreign Policy

Author: Catherine V. Scott

Publisher: Springer

Published: 2018-01-23

Total Pages: 268

ISBN-13: 3319713833

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While there has been a flood of scholarly efforts to extend, adapt, and revise Foucault’s exploration of the emergence and operations of neoliberalism, the study of foreign policy has remained steeped in the analysis of partisanship, institutions, policies, and personality and their influence on various issue areas, toward particular countries, or specific presidential doctrines. This book brings the political rationality of neoliberalism to bear on U.S. foreign policy in two distinct ways. First, it challenges, complicates, and revises the numerous interpretations of U.S. nationalism that posit a homologous relationship between “1898” and contemporary nationalism, instead arguing that alterations in the operations of capitalism and its correlative forms of governance have produced a differently formatted nationalism, which in turn has produced different operations of U.S. hegemony in the twenty-first century that markedly depart from earlier eras. Second, this book argues for a new timeline—one that starts with the Carter-Reagan era and the crisis of capitalism—ultimately encouraging us to think beyond particular presidencies, wars, bureaucratic politics, and policies in order to train our sights on how long-term and sustained shifts in the economy and attendant government practices have emerged to produce new myths of exceptionalism that more fully cohere with the neoliberal foundations of the U.S. nation-state.

The Crisis of Neoliberalism

Author: Gérard Duménil

Publisher: Harvard University Press

Published: 2011

Total Pages: 400

ISBN-13: 0674049888

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This book examines “the great contraction” of 2007–2010 within the context of the neoliberal globalization that began in the early 1980s. This new phase of capitalism greatly enriched the top 5 percent of Americans, including capitalists and financial managers, but at a significant cost to the country as a whole. Declining domestic investment in manufacturing, unsustainable household debt, rising dependence on imports and financing, and the growth of a fragile and unwieldy global financial structure threaten the strength of the dollar. Unless these trends are reversed, the authors predict, the U.S. economy will face sharp decline.Summarizing a large amount of troubling data, the authors show that manufacturing has declined from 40 percent of GDP to under 10 percent in thirty years. Since consumption drives the American economy and since manufactured goods comprise the largest share of consumer purchases, clearly we will not be able to sustain the accumulating trade deficits.Rather than blame individuals, such as Greenspan or Bernanke, the authors focus on larger forces. Repairing the breach in our economy will require limits on free trade and the free international movement of capital; policies aimed at improving education, research, and infrastructure; reindustrialization; and the taxation of higher incomes.

Neoliberalism: A Very Short Introduction

Author: Manfred B. Steger

Publisher: OUP Oxford

Published: 2010-01-21

Total Pages: 169

ISBN-13: 0191609765

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Anchored in the principles of the free-market economics, 'neoliberalism' has been associated with such different political leaders as Ronald Reagan, Margaret Thatcher, Bill Clinton, Tony Blair, Augusto Pinochet, and Junichiro Koizumi. In its heyday during the late 1990s, neoliberalism emerged as the world's dominant economic paradigm stretching from the Anglo-American heartlands of capitalism to the former communist bloc all the way to the developing regions of the global South. At the dawn of the new century, however, neoliberalism has been discredited as the global economy, built on its principles, has been shaken to its core by a financial calamity not seen since the dark years of the 1930s. So is neoliberalism doomed or will it regain its former glory? Will reform-minded G-20 leaders embark on a genuine new course or try to claw their way back to the neoliberal glory days of the Roaring Nineties? Is there a viable alternative to neoliberalism? Exploring the origins, core claims, and considerable variations of neoliberalism, this Very Short Introduction offers a concise and accessible introduction to one of the most debated 'isms' of our time. ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable.

Post-Neoliberalism in the Americas

Author: Laura Macdonald

Publisher: Palgrave MacMillan

Published: 2009-01-15

Total Pages: 320

ISBN-13:

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This collection brings together a diverse range of analyses to interrogate policy changes and to grapple with the on-going transformations of neoliberalism in both North America and various Latin American states.

After Neoliberalism?

Author: Gustavo A. Flores-Macias

Publisher: Oxford University Press

Published: 2012-05-31

Total Pages: 276

ISBN-13: 0199891656

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Gusatvo Flores-Macias' After Neoliberalism? offers the first systemic explanation of why the ever-popular left-wing governments in Latin American countries have become extremely radical or moderate once in power.