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Red Medicine
The Neoliberal Counterrevolution w/ Melinda Cooper
Jul 23, 2024
Melinda Cooper, a Professor in Sociology at the Australian National University, dives into the complex dance of austerity and extravagance shaping neoliberal monetary policy. She illuminates how the crises of the 1970s birthed a counterrevolution against Keynesian economics, affecting wealth distribution and public finance. Discussing the regressive nature of capital gains tax cuts, she critiques their benefits for the wealthy. The conversation also touches on how reproductive rights debates reflect changing social dynamics amidst these ideological shifts.
01:21:20
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Quick takeaways
- Melinda Cooper highlights the intertwining of austerity measures and lavish tax cuts since the 1970s, which have exacerbated wealth inequality.
- The re-framing of abortion in the 1970s galvanized conservative coalitions, aligning reproductive rights with broader anti-feminist and anti-welfare sentiments.
Deep dives
The Shift in Class Dynamics
Traditional class definitions such as middle class and working class are becoming increasingly inadequate in the current economic landscape. The distinctions between classes are fragmenting as wealth and income distributions shift dramatically, leading to a situation where traditional mobility between classes is diminishing. Factors such as home ownership versus renting are creating deep rifts among different class strata, complicating the social fabric. This fracturing is indicative of a broader economic transformation that no longer supports the conventional understanding of class structures.
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Listen to the best highlights from the podcasts you love and dive into the full episode