New Books in Economics The Future of Neoliberalism: A Conversation with Gary Gerstle
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May 24, 2022 AI Snips
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Neoliberalism Defined
- Neoliberalism, as a creed, unleashes capitalism's power and frees markets from constraints, promoting globalization and deregulation.
- It values innovation, disruption, and sometimes cosmopolitanism, a celebration of diverse cultures mixing.
Neoliberalism's Broad Appeal
- Neoliberalism's success stems from its compatibility with both cosmopolitanism (left) and patriarchal families/religion (right).
- This broad appeal created a powerful alliance that prolonged its dominance.
The Inequality Myth
- Neoliberals acknowledged inequality but believed in a "rising tide lifts all boats" outcome, especially with globalization.
- The 2008 crash exposed this as a fiction, revealing stark inequalities within and between nations.