Neoliberalism Is Dead
Maybe I should say Vampire Zombie Squid Neoliberalism is dead and just don't know it.
The death of neoliberalism is not just my opinion, Joeseph Stiglitz explains:
Stiglitz, who won a Nobel Memorial Prize in economics in 2001 for his work on information asymmetry, has been one of neoliberalism's biggest critics in recent years, and he says the "neoliberal euphoria" that has gripped the world since the 1980s is now gone.
The neoliberalism euphoria that has had a deathgrip on global economic theory is dead. Yeah I'm talking to you Obama, Hillary, Pelosi and The Chicago School of Economics and Political Fascism.
Stiglitz went on to argue that one of the central tenets of the neoliberal ideology - the idea that markets function best when left alone and that an unregulated market is the best way to increase economic growth - has now been pretty much disproved.
"We've gone from a neoliberal euphoria that 'markets work well almost all the time' and all we need to do is keep governments on course, to 'markets don't work' and the debate is now about how we get governments to function in ways that can alleviate this," he said.
Of course Stiglitz is speaking for rational economic and political agents, which does not include corporate Democrats. Full story at that notorious fake news Marxist tool, Business Insider :
For follow up, hat tip to Naked Capitalism:
How Did They Get So Rich?
In Monday’s New York Times, David Leonhardt shared a version of the following graph produced by Piketty, Saez, and Zucman as part of their Distributive National Accounts project.
My previous short read of Piketty & Saez's research here:
Back to Jacobin. Excellent graphs and this summary:
These data underscore the point I made earlier this week: if we care about inequality, we must confront capital.
We can confront Neoliberal Zombies in the streets, the public square and political Town Halls. The Vampire Squid and Democratic Neoliberal Zombies are economic and political parasites. Their death throes will not be short or pretty, and nobody said the burial would be easy.
The light at the end of the tunnel is a faint glimmer, but the train is coming. With the assistance of the good people here at c99% it just might get here before the ecological extinction of mankind.