All articles tagged with #neoliberalism
Branko Milanovic discusses the decline of neoliberal globalization, the rise of China, the emergence of a new global elite, and the shift towards national market liberalism, highlighting the increased inequality, geopolitical tensions, and societal discontent that may lead to further instability, all within a framework of long-term observable trends and critical analysis of capitalism's moral shortcomings.
Brazil's President Luiz Inacio Lula da Silva criticized neoliberalism for exacerbating economic and political inequality ahead of the G20 summit in Rio de Janeiro. Lula, who will host leaders including Joe Biden and Xi Jinping, emphasized the need for governments to align more closely with public concerns over market interests. He advocated for global initiatives against hunger, taxing the super-rich, and UN reforms. Lula's stance may face opposition from some leaders, but he urged civil society to pressure governments for change.
Nobel laureate Joe Stiglitz critiques the "myth" of the American Dream, arguing that neoliberal capitalism has made it increasingly unattainable, especially for Gen Z. He emphasizes the need for well-regulated capitalism over socialism and warns against the potential economic and social repercussions of Donald Trump's re-election. Stiglitz also highlights the disparity between the ideal of upward mobility and the harsh economic realities faced by younger generations, exacerbated by issues like student debt and gun violence.
Despite positive economic indicators, such as low unemployment and rising real wages, many Americans remain dissatisfied with the economy. While the economy has improved, millions still face unemployment, lack of health insurance, homelessness, and poverty. The idea of economic rights, proposed by President Roosevelt in 1944, is being revisited by progressives and gaining bipartisan attention. This vision includes providing basic needs such as housing, healthcare, education, and welfare. The shift towards economic rights is reflected in proposals like the Green New Deal and calls for a 21st-century economic bill of rights, aiming to bridge the gap between Bidenomics and progressive policies.
Chile's 2019 social explosion and subsequent constitutional convention were driven by dissatisfaction with the neoliberal model. However, the convention became mired in identity politics and infighting, leading to a rejected constitutional draft. Unforeseen events like the pandemic and immigration concerns shifted Chilean politics to the right. The failure of the constitutional experiment reflects a polarized society and an unchanged economic model. Voters are seeking stable jobs, security, good pensions, immigration enforcement, and affordable healthcare, which neither the left nor the right has been able to deliver. The future of Chile's economy remains uncertain.
Charles Peters, the founder and editor of The Washington Monthly, a political journal known for challenging liberal and conservative orthodoxies, has passed away at the age of 96. Peters, often referred to as the "godfather of neoliberalism," played a significant role in redefining liberalism by advocating for positions associated with right-wing Republicanism. His magazine aimed to evaluate the flaws and foibles of politics and government in Washington, offering readers a deeper understanding of the system. Despite its limited readership, The Washington Monthly had a lasting impact on journalism and influenced the Democratic Party's shift toward the center. Peters leaves behind a legacy of mentoring young journalists and promoting serious advocacy journalism.
As Mexican President Andrés Manuel López Obrador (AMLO) approaches the final year of his term, his presidency is being evaluated in terms of policy accomplishments and his impact on the working-class base. AMLO's government is seen as a period of rupture, transforming the party infrastructure and system, and challenging the neoliberal consensus that dominated Mexico for years. While there have been successes such as strong macroeconomic indicators and greater working-class purchasing power, there have also been criticisms regarding AMLO's relationship with the feminist movement and rising cartel violence. Overall, AMLO's presidency is seen as a significant shift in Mexican politics and a reversal of the global trend towards class dealignment.