- https://www.theguardian.com/books/2016/apr/15/neoliberalism-ideology-problem-george-monbiot
- 'sees competition as the defining characteristic of human relations...redefines citizen as consumers whose democratic choices are best exercised by buying and selling...'
- looks to minimize tax & regulation, privatize public services, discourage unions & labor bargaining
- 1944, Ludwig von Mises & Friedrich Hayek 'The Road to Serfdom': argued that government planning would lead to totalitarianism control. As it evolved, Hayek's view that the government should regulate competition moved to the belief that monopoly could be seen as reward for efficiency
- As Keynesian policies fell apart in 1970s, neoliberalism ideas entered mainstream policy-making and was adopted by Jimmy Carter in US --> Margaret Thatcher & Ronald Reagan era: massive tax cuts for the rich, crushing of trade unions, deregulation, privatization, competition in public services
- Freedom from trade unions and collective bargaining = freedom to suppress wages, to pollute; Universal competition = universal quantification, assessment and monitoring; Privatization = corporations setting up tollbooths in front of vital national services eg. mobile services
- 'fascist movements build their base not from the politically active but the politically inactive, the 'losers' who feel, often correctly, they have no voice or role to play in the political establishment' - when political debate no longer appeals and facts appear irrelevant, people become responsive to slogans, symbols, sensation.
- The invisible hand of corporations - Institute of Economic Affairs is funded by British American Tobacco since 1963; Charles and David Koch founded the Tea Party Movement* -- the market is fraught with power relations; the funding of productive and socially useful activities is used interchangeably with the purchase of assets to create rent, interest, dividends and capital gains
- Keynesianism works by stimulating consumer demand to promote economic growth, which are also the motors of environmental destruction*
- A new economic program needs to be designed, tailored to the demands of the 21st C
*Keynesianism advocates an active role for government intervention - monetary policy actions - during recession. It served as the model during the Great Depression, post WW2
-- problems such as unemployment result from imbalances in demand and whether the economy was expanding or contracting; therefore necessary for government spending to increase demand, increase economic activity, and reduce unemployment
*Tea Party Movement: 'fake grassroots movement' composed of well-meaning people who think they are fighting elite power, but have been organized by the very interests they believe they are confronting eg. 2009 Defending the American Dream, convened by Americans for Prosperity -- AFP mobilized opposition to Obama's heathcare reforms. eg. Cato Institute (organized by Koch Brothers), the first free-market think tank (*think tank: an organization that performs research and advocacy on topics like social policy, political strategy, military, technology, culture)
