The Collapse of Neoliberalism

good read

For discussion of politics, and what's going on in the world today.

Moderators: Blip, The_Metatron

The Collapse of Neoliberalism

#1  Postby Macdoc » Dec 29, 2019 9:18 pm


The Collapse of Neoliberalism
By GANESH SITARAMAN
December 23, 2019

Image
Welcome to the Decade From Hell, our look back at an arbitrary 10-year period that began with a great outpouring of hope and ended in a cavalcade of despair.

With the 2008 financial crash and the Great Recession, the ideology of neoliberalism lost its force. The approach to politics, global trade, and social philosophy that defined an era led not to never-ending prosperity but utter disaster. “Laissez-faire is finished,” declared French President Nicolas Sarkozy. Federal Reserve Chairman Alan Greenspan admitted in testimony before Congress that his ideology was flawed. In an extraordinary statement, Australian Prime Minister Kevin Rudd declared that the crash “called into question the prevailing neoliberal economic orthodoxy of the past 30 years—the orthodoxy that has underpinned the national and global regulatory frameworks that have so spectacularly failed to prevent the economic mayhem which has been visited upon us.”


more
https://newrepublic.com/article/155970/ ... ource=digg


gonna toss this in the right wing chicken coop on one of my motorcycle forums....watch the feathers fly. :smoke:
Travel photos > https://500px.com/macdoc/galleries
EO Wilson in On Human Nature wrote:
We are not compelled to believe in biological uniformity in order to affirm human freedom and dignity.
User avatar
Macdoc
THREAD STARTER
 
Posts: 16295
Age: 72
Male

Country: Canada/Australia
Australia (au)
Print view this post

Ads by Google


Re: The Collapse of Neoliberalism

#2  Postby Tortured_Genius » Dec 30, 2019 2:05 am

I can't help but think the article is fundamentally flawed.

The wealthiest 1% getting wealthier on the backs of the very poorest.
Power concentrated in the hands of a minority authoritarian elite.
Continuous foreign wars that fuel the military industrial complex with orders from the tax budget (raised from the people not getting a tax cut).
The establishment of monopolies over vast swathes of the economy as industries become more concentrated into fewer entities.

For some reason the author of the article seems to think these were unpredictable and unwanted results.

They weren't - they were totally fucking predictable (if you give tax cuts to the wealthy they get even wealthier - in other news, water is wet).

And the people who put these policies in place were basically the people who benefited from the outcomes listed above.

Neoliberalism looks to have worked fine for the bastards in charge to me.
None are so hopelessly enslaved than those who falsely believe they are free. - Goethe
User avatar
Tortured_Genius
 
Posts: 1691
Age: 58
Male

United Kingdom (uk)
Print view this post

Re: The Collapse of Neoliberalism

#3  Postby Rumraket » Dec 30, 2019 4:37 am

Tortured_Genius wrote:I can't help but think the article is fundamentally flawed.

The wealthiest 1% getting wealthier on the backs of the very poorest.
Power concentrated in the hands of a minority authoritarian elite.
Continuous foreign wars that fuel the military industrial complex with orders from the tax budget (raised from the people not getting a tax cut).
The establishment of monopolies over vast swathes of the economy as industries become more concentrated into fewer entities.

For some reason the author of the article seems to think these were unpredictable and unwanted results.

They weren't - they were totally fucking predictable (if you give tax cuts to the wealthy they get even wealthier - in other news, water is wet).

And the people who put these policies in place were basically the people who benefited from the outcomes listed above.

Neoliberalism looks to have worked fine for the bastards in charge to me.

:this:

The whole system did exactly what it was designed to do: Funnel more wealth into the pockets of the top 0.1%. The broader economic, societal, and political consequences were never a factor in the equation. It was just silly propaganda designed to keep things as they were. Who gives a shit if sea levels rise, that won't fundamentally alter the laws of physics. A yacht will still float if the seas are 10 meters deeper.
Half-Life 3 - I want to believe
User avatar
Rumraket
 
Posts: 13184
Age: 39

Print view this post

Re: The Collapse of Neoliberalism

#4  Postby Macdoc » Dec 30, 2019 4:48 am

did you miss this ??

The approach to politics, global trade, and social philosophy that defined an era led not to never-ending prosperity but utter disaster.


Last time I checked utter disaster = failure.
Travel photos > https://500px.com/macdoc/galleries
EO Wilson in On Human Nature wrote:
We are not compelled to believe in biological uniformity in order to affirm human freedom and dignity.
User avatar
Macdoc
THREAD STARTER
 
Posts: 16295
Age: 72
Male

Country: Canada/Australia
Australia (au)
Print view this post

Re: The Collapse of Neoliberalism

#5  Postby felltoearth » Dec 30, 2019 4:58 am

Utter disaster for whom?
"Walla Walla Bonga!" — Witticism
User avatar
felltoearth
 
Posts: 12362
Age: 52

Canada (ca)
Print view this post

Re: The Collapse of Neoliberalism

#6  Postby Tortured_Genius » Dec 30, 2019 5:37 am

Macdoc wrote:did you miss this ??

The approach to politics, global trade, and social philosophy that defined an era led not to never-ending prosperity but utter disaster.


Last time I checked utter disaster = failure.


That was my point though - it was only an utter disaster for those poor schmucks who weren't in the 1%.

If you got rich(er) as your taxes were cut, your armaments shares were being boosted by taxpayer funded wars and your ability to shift funds (and by extension power) and asset strip with little or no government interference then for you it was anything but a disaster.

Little people's woes don't count.
None are so hopelessly enslaved than those who falsely believe they are free. - Goethe
User avatar
Tortured_Genius
 
Posts: 1691
Age: 58
Male

United Kingdom (uk)
Print view this post

Re: The Collapse of Neoliberalism

#7  Postby Macdoc » Dec 30, 2019 6:15 am

The article was pointing out the failure to bring wide spread prosperity - it did not specify a narrow class
.....so how is the the article a failure - correctly dissected the failure of Neo-Lib to bring an era of prosperity to the wider world?
No different than the trickle down nonsense the repuglies cling to.
If you leave predators in charge...they will fuck the general populace over......and did, and will do again....the situation is ripe for another 2008.
Travel photos > https://500px.com/macdoc/galleries
EO Wilson in On Human Nature wrote:
We are not compelled to believe in biological uniformity in order to affirm human freedom and dignity.
User avatar
Macdoc
THREAD STARTER
 
Posts: 16295
Age: 72
Male

Country: Canada/Australia
Australia (au)
Print view this post

Ads by Google


Re: The Collapse of Neoliberalism

#8  Postby Macdoc » Dec 30, 2019 8:53 am

They know the consequences

Billionaire bunkers: How the 1% are preparing for the apocalypse


https://edition.cnn.com/style/article/d ... index.html

:coffee:
Travel photos > https://500px.com/macdoc/galleries
EO Wilson in On Human Nature wrote:
We are not compelled to believe in biological uniformity in order to affirm human freedom and dignity.
User avatar
Macdoc
THREAD STARTER
 
Posts: 16295
Age: 72
Male

Country: Canada/Australia
Australia (au)
Print view this post

Re: The Collapse of Neoliberalism

#9  Postby Hermit » Dec 30, 2019 9:05 am

Macdoc wrote:

The Collapse of Neoliberalism
By GANESH SITARAMAN
December 23, 2019

With the 2008 financial crash and the Great Recession, the ideology of neoliberalism lost its force. The approach to politics, global trade, and social philosophy that defined an era led not to never-ending prosperity but utter disaster. “Laissez-faire is finished,” declared French President Nicolas Sarkozy. Federal Reserve Chairman Alan Greenspan admitted in testimony before Congress that his ideology was flawed. In an extraordinary statement, Australian Prime Minister Kevin Rudd declared that the crash “called into question the prevailing neoliberal economic orthodoxy of the past 30 years—the orthodoxy that has underpinned the national and global regulatory frameworks that have so spectacularly failed to prevent the economic mayhem which has been visited upon us.”


more
https://newrepublic.com/article/155970/collapse-neoliberalism?utm_source=digg

What a load of cobblers.

Sarkozy's quote comes from a speech he made in September 2008.
Alan Greenspan testified before Congress in October 2008.
Rudd's quote is from an article he wrote in February 2009.

Since then

France elected yet another neoliberal to the presidency.
The Republicans in the USA won control of both houses of Congress.
Australia has been governed by the conservatives since Rudd lost the 2013 election.

Also

Angela Merkel remains Germany's neoliberal chancellor until she chooses to retire.
And do we need to mention which party has been elected and re-elected in the UK for the past decade?

Neoliberalism has manifestly not lost its force for as long as voters keep electing and re-electing neoliberal governments into office. This may change some time in the future, but there is no empirical evidence for such change right now.
God is the mysterious veil under which we hide our ignorance of the cause. - Léo Errera


God created the universe
God just exists
User avatar
Hermit
 
Posts: 3011
Age: 66
Male

Country: Here
Print view this post

Re: The Collapse of Neoliberalism

#10  Postby Macdoc » Dec 30, 2019 2:27 pm

Did you actually read the article??? ....no where does it state that it has lost it's force
- it states it has failed to bring an era of prosperity except for a small percentage of predators...
It has failed and we've been flirting with another 2008 in the near term......the have/have not gap widens.


Is inequality on the rise?
Income inequality has risen sharply since the 1970s in most advanced economies around the world, and has been blamed for increasingly polarised politics.

While growth powered ahead in the second half of the 20th century, and resumed more fitfully after the 2008-09 financial crisis, there have been major winners and losers from the wealth generated.

Sir Angus Deaton, the Nobel prize-winning economist who is leading a five-year review of inequality with the leading Institute for Fiscal Studies thinktank, said: “There is this feeling that contemporary capitalism is not working for everybody.

https://www.theguardian.com/news/2019/s ... reverse-it

https://www.oecd.org/cfe/festivaleconom ... ressed.htm


There is this feeling that contemporary capitalism is not working for everybody.


exactly the point of the article.

I'm a capitalist ...but predatory capitalism needs curbing ....no better example than Libor.

https://www.theguardian.com/business/20 ... ant-number

or the Australian Royal Commission on Banking

https://www.stuff.co.nz/business/world/ ... t-a-glance
Last edited by Macdoc on Dec 30, 2019 2:46 pm, edited 1 time in total.
Travel photos > https://500px.com/macdoc/galleries
EO Wilson in On Human Nature wrote:
We are not compelled to believe in biological uniformity in order to affirm human freedom and dignity.
User avatar
Macdoc
THREAD STARTER
 
Posts: 16295
Age: 72
Male

Country: Canada/Australia
Australia (au)
Print view this post

Re: The Collapse of Neoliberalism

#11  Postby Calilasseia » Dec 30, 2019 2:37 pm

And unfortunately, those self same predators own the broadcast media and have bought the political system to suit themselves. Which means that the intrinsic failure of "neoliberalism" (or, as we should be calling it, corporate plutofascism) is going to continue until these fuckers have turned the planet into Venus Mark II. At which point the selfish cunts are going to learn that no amount of money will insulate them from being fried to a crisp as planetary temperatures start climbing toward 400°C.

The problem we all face, however, is that these selfish, sociopathic fucks think they can buy their way out of any shit, if only they're greedy and rapacious enough to acquire the funds. The manner in which fucktons of money has been successful in insulating them from a wide range of shitfests, has led them to think that wealth equals invincibility. Nature is about to teach those fucks a hard lesson, but sadly, the rest of us are going to burn with them.
Signature temporarily on hold until I can find a reliable image host ...
User avatar
Calilasseia
RS Donator
 
Posts: 22019
Age: 58
Male

Country: England
United Kingdom (uk)
Print view this post

Re: The Collapse of Neoliberalism

#12  Postby Macdoc » Dec 30, 2019 2:48 pm

They will try

Luxury doomsday bunkers: How the mega-rich are preparing ...

Aug 7, 2019 - Many of the world's elite, including hedge fund managers, sports stars and tech executives (Bill Gates is rumored to have bunkers at all his ...


https://www.cnn.com/style/article/dooms ... index.html
Travel photos > https://500px.com/macdoc/galleries
EO Wilson in On Human Nature wrote:
We are not compelled to believe in biological uniformity in order to affirm human freedom and dignity.
User avatar
Macdoc
THREAD STARTER
 
Posts: 16295
Age: 72
Male

Country: Canada/Australia
Australia (au)
Print view this post

Re: The Collapse of Neoliberalism

#13  Postby Hermit » Dec 30, 2019 3:34 pm

Macdoc wrote:Did you actually read the article??? ....no where does it state that it has lost it's force

The article states exactly that in its very first sentence:
With the 2008 financial crash and the Great Recession, the ideology of neoliberalism lost its force.
:lol:
God is the mysterious veil under which we hide our ignorance of the cause. - Léo Errera


God created the universe
God just exists
User avatar
Hermit
 
Posts: 3011
Age: 66
Male

Country: Here
Print view this post

Re: The Collapse of Neoliberalism

#14  Postby Macdoc » Dec 30, 2019 5:08 pm

No better illustration - even with a state that is well intentioned

California Is Booming. Why Are So Many Californians Unhappy?
Fire, garbage and homelessness increasingly plague the Golden State.

Conor Dougherty
By Conor Dougherty
Dec. 29, 2019

SAN FRANCISCO — Christine Johnson, a public-finance consultant with an engineering degree, was running for a seat on the San Francisco Board of Supervisors.

She crisscrossed her downtown district talking about her plans to stimulate housing construction, improve public transit and deal with the litter of “needles and poop” that have become a common sight on the city’s sidewalks.

Today, a year after losing the race, Ms. Johnson, who had been in the Bay Area since 2004, lives in Denver with her husband and 4-year-old son. In a recent interview, she spoke for millions of Californians past and present when she described the cloud that high rent and child-care costs had cast over her family’s savings and future.

“I fully intended San Francisco to be my home and wanted to make the neighborhoods better,” she said. “But after the election we started tallying up what life could look like elsewhere, and we didn’t see friends in other parts of the country experiencing challenges the same way.”

California is at a crossroads. The state has a thriving $3 trillion economy with record low unemployment, a surplus of well-paying jobs, and several of the world’s most valuable corporations, including Apple, Google and Facebook. Its median household income has grown about 17 percent since 2011, compared with about 10 percent nationally, adjusted for inflation.

“I fully intended San Francisco to be my home,” she said.Credit...AAron Ontiveroz for The New York Times
But California also has a pernicious housing and homeless problem and an increasingly destructive fire season that is merely a preview of climate change’s potential effects. Corporations like Charles Schwab are moving their headquarters elsewhere, while Oracle announced that it would no longer stage its annual software conference in San Francisco, in part because of the city’s dirty streets. “Shining example or third-world state?” a recent headline on a local news website asked.


https://www.nytimes.com/2019/12/29/busi ... ource=digg
Travel photos > https://500px.com/macdoc/galleries
EO Wilson in On Human Nature wrote:
We are not compelled to believe in biological uniformity in order to affirm human freedom and dignity.
User avatar
Macdoc
THREAD STARTER
 
Posts: 16295
Age: 72
Male

Country: Canada/Australia
Australia (au)
Print view this post

Re: The Collapse of Neoliberalism

#15  Postby Hermit » Dec 30, 2019 6:19 pm

Neoliberalism is definitely not functioning as advertised, but while neoliberals keep being elected and re-elected into government there still is no collapse of neoliberalism in sight.

By the way, Mac, have you read the article yet? At least to the end of the first sentence? ;)
God is the mysterious veil under which we hide our ignorance of the cause. - Léo Errera


God created the universe
God just exists
User avatar
Hermit
 
Posts: 3011
Age: 66
Male

Country: Here
Print view this post

Ads by Google


Re: The Collapse of Neoliberalism

#16  Postby Mr. Skeptic » Jan 14, 2020 8:51 pm

Calilasseia wrote:And unfortunately, those self same predators own the broadcast media and have bought the political system to suit themselves. Which means that the intrinsic failure of "neoliberalism" (or, as we should be calling it, corporate plutofascism) is going to continue until these fuckers have turned the planet into Venus Mark II. At which point the selfish cunts are going to learn that no amount of money will insulate them from being fried to a crisp as planetary temperatures start climbing toward 400°C.

The problem we all face, however, is that these selfish, sociopathic fucks think they can buy their way out of any shit, if only they're greedy and rapacious enough to acquire the funds. The manner in which fucktons of money has been successful in insulating them from a wide range of shitfests, has led them to think that wealth equals invincibility. Nature is about to teach those fucks a hard lesson, but sadly, the rest of us are going to burn with them.


Eat the rich and guillotine the bourgeoisie! Abolish the monetary dictatorship that festers beneath the hardships of the proletariat, and subverts our democracy and our planetary welfare, and after the ashes of corporate plutofascism have fallen, we shall institute a new, more equal society; socialism, and then, as a functional endpoint, communism!

From an anarcho-syndicalist.
Mr. Skeptic
 
Name: Owen Terry
Posts: 106

Country: USA
United States (us)
Print view this post


Return to News, Politics & Current Affairs

Who is online

Users viewing this topic: No registered users and 1 guest