The Crisis of Neoliberalism

2011 Business & Economics

Author : Gérard Duménil
Release : 2011
Genre : Business & Economics
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Book Rating : 888/5 ( reviews)

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Book Synopsis The Crisis of Neoliberalism by : Gérard Duménil

Download or read book The Crisis of Neoliberalism written by Gérard Duménil. This book was released on 2011. Available in PDF, EPUB and Kindle. Book excerpt: 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.

New Neoliberalism and the Other

2018-02-19 Political Science

Author : Giuseppe Cocco
Release : 2018-02-19
Genre : Political Science
Kind : eBook
Book Rating : 675/5 ( reviews)

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Book Synopsis New Neoliberalism and the Other by : Giuseppe Cocco

Download or read book New Neoliberalism and the Other written by Giuseppe Cocco. This book was released on 2018-02-19. Available in PDF, EPUB and Kindle. Book excerpt: The exhaustion of neoliberal globalization is marked by three great tendencies or inflections: the first is the scornful failure of the South-American attempt to construct a neo-developmentalist exit; the second is the increasingly unavoidable Chinese-effect macro and micro dynamics within globalization; the third is the combination of austerity policies and monetary emissions (Quantitative Easing) that characterize, for instance, the financial conduct of the Central European Bank. The dramatic failure to renew traditional state interventionism in the sphere of Pink Tide in Latin American politics—in particular with the violent recession of the biggest economy on the Latin American continent, Brazil—shows and confirms that the escape from neoliberal regulation does not pass through the return of the traditional role of the state. At the same time, the Chinese economy came to play a double role. On one hand, it appears to represent the great and irreversible novelty of neoliberal globalization, particularly when our point of perspective is South America. While almost nothing remains of the legacy of the center-left-leaning regimes, the last South American decade appears to have genuinely been a Chinese decade. The Chinese advance is seen, especially by voices of the critical globalization studies, as a new “outside” of Empire, as something that stands for an alternative path, even if it is nothing more than an “old new” outside. Meanwhile, the role played by the financial sector continues to be regarded per se as the fundamental problem of contemporary capitalism. For some, this is a case of a deviation from an otherwise “good capitalism, the misleading result of a fictitious and unreal sphere (as opposed to the sphere of material economy, of good old bosses and hard workers), while for others, it is a case of one of the moral characteristics of Western civilization: infinite debt, and capitalism happens to be its modern drift.

Family Values

2017-02-01 Political Science

Author : Melinda Cooper
Release : 2017-02-01
Genre : Political Science
Kind : eBook
Book Rating : 04X/5 ( reviews)

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Book Synopsis Family Values by : Melinda Cooper

Download or read book Family Values written by Melinda Cooper. This book was released on 2017-02-01. Available in PDF, EPUB and Kindle. Book excerpt: Why was the discourse of family values so pivotal to the conservative and free-market revolution of the 1980s and why has it continued to exert such a profound influence on American political life? Why have free-market neoliberals so often made common cause with social conservatives on the question of family, despite their differences on all other issues? In this book, Melinda Cooper challenges the idea that neoliberalism privileges atomized individualism over familial solidarities, and contractual freedom over inherited status. Delving into the history of the American poor laws, she shows how the liberal ethos of personal responsibility was always undergirded by a wider imperative of family responsibility and how this investment in kinship obligations recurrently facilitated the working relationship between free-market liberals and social conservatives. Neoliberalism, she argues, must be understood as an effort to revive and extend the poor law tradition in the contemporary idiom of household debt. As neoliberal policymakers imposed cuts to health, education, and welfare budgets, they simultaneously identified the family as a wholesale alternative to the twentieth-century welfare state. And as the responsibility for deficit spending shifted from the state to the household, the private debt obligations of family were defined as foundational to socio-economic order. Despite their differences, neoliberals and social conservatives were in agreement that the bonds of family needed to be encouraged — and at the limit enforced — as a necessary counterpart to market freedom. In a series of case studies ranging from Clinton’s welfare reform to the AIDS epidemic, and from same-sex marriage to the student loan crisis, Cooper explores the key policy contributions made by neoliberal economists and legal theorists. Only by restoring the question of family to its central place in the neoliberal project, she argues, can we make sense of the defining political alliance of our times, that between free-market economics and social conservatism.

A Brief History of Neoliberalism

2007-01-04 Political Science

Author : David Harvey
Release : 2007-01-04
Genre : Political Science
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Book Rating : 94X/5 ( reviews)

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Book Synopsis A Brief History of Neoliberalism by : David Harvey

Download or read book A Brief History of Neoliberalism written by David Harvey. This book was released on 2007-01-04. Available in PDF, EPUB and Kindle. Book excerpt: 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.

In the Ruins of Neoliberalism

2019-07-16 Philosophy

Author : Wendy Brown
Release : 2019-07-16
Genre : Philosophy
Kind : eBook
Book Rating : 537/5 ( reviews)

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Book Synopsis In the Ruins of Neoliberalism by : Wendy Brown

Download or read book In the Ruins of Neoliberalism written by Wendy Brown. This book was released on 2019-07-16. Available in PDF, EPUB and Kindle. Book excerpt: Across the West, hard-right leaders are surging to power on platforms of ethno-economic nationalism, Christianity, and traditional family values. Is this phenomenon the end of neoliberalism or its monstrous offspring? In the Ruins of Neoliberalism casts the hard-right turn as animated by socioeconomically aggrieved white working- and middle-class populations but contoured by neoliberalism’s multipronged assault on democratic values. From its inception, neoliberalism flirted with authoritarian liberalism as it warred against robust democracy. It repelled social-justice claims through appeals to market freedom and morality. It sought to de-democratize the state, economy, and society and re-secure the patriarchal family. In key works of the founding neoliberal intellectuals, Wendy Brown traces the ambition to replace democratic orders with ones disciplined by markets and traditional morality and democratic states with technocratic ones. Yet plutocracy, white supremacy, politicized mass affect, indifference to truth, and extreme social disinhibition were no part of the neoliberal vision. Brown theorizes their unintentional spurring by neoliberal reason, from its attack on the value of society and its fetish of individual freedom to its legitimation of inequality. Above all, she argues, neoliberalism’s intensification of nihilism coupled with its accidental wounding of white male supremacy generates an apocalyptic populism willing to destroy the world rather than endure a future in which this supremacy disappears.

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The Crisis of Neoliberalism

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