Neoliberalism: Difference between revisions

Revision as of 15:47, 20 October 2022

Neoliberalism "reduces the state to a handmaiden of transnational capital. In pursuing the relentless privatization of the commons, its policies inevitably spark popular discontent." -Firoze Manji, Beautiful Trouble. ^[1] Neoliberalism emerged as a set of global policies implemented by the Margaret Thatcher in the UK and Ronald Reagan in the US.

How does neoliberalism work?

Capital, under capitalism, is concentrated. A few hundred corporations control almost every aspect of our economies. Capitalists respond to the falling rate of profit through accumulation by dispossession (credit, property and stock markets). The outcome is governments that are more accountable to corporations, banks, and financial institutions than they are to citizens. Neoliberalism claims to resolve crises by subjecting all aspects of life to the free market.

Consequences of neoliberalism

Privatizing public services	Under neoliberalism, public services deteriorate from a lack of funding. Soon they are sold off cheaply to the private sector. ^[2] The state becomes prohibited from investing in social infrastructure (health, education, transport, telecommunications etc.) which are managed by corporations for profit. ^[3]
Over-extraction of natural resources	Where neoliberal policies cannot be imposed domestically, they are imposed internationally, through trade treaties which incorporate offshore tribunals. This allows corporations to press for the removal of social and environmental protections. ^[4]
Exploitation	In the majority world, the state is barred from subsidizing agricultural production (unlike in Europe and the US). Tariff barriers that protect national economies are removed, rights to natural resources are auctioned off at lower cost, and taxes are cut. The result is wealth inequality and public debt. ^[5] Small loan schemes devastate the lives of millions of people living in poverty. See this example on India's crisis.

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[1] ttps://beautifultrouble.org/toolbox/tool/neoliberalism

[2] ttps://beautifultrouble.org/toolbox/tool/neoliberalism

[3] ttps://beautifultrouble.org/toolbox/tool/neoliberalism

[4] ttps://www.theguardian.com/books/2016/apr/15/neoliberalism-ideology-problem-george-monbiot

[5] ttps://beautifultrouble.org/toolbox/tool/neoliberalism

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 Capital, under capitalism, is concentrated. A few hundred corporations control almost every aspect of our economies. Capitalists respond to the falling rate of profit through accumulation by dispossession (credit, property and stock markets). The outcome is governments that are more accountable to corporations, banks, and financial institutions than they are to citizens. Neoliberalism claims to resolve crises by subjecting all aspects of life to the free market.&nbsp;
-== Examples of neoliberalism ==
+== Consequences of neoliberalism ==
-<br>Neoliberalism results in privatizing public services, eliminating jobs and reduced wages, extracting natural resources and expoliitation.&nbsp;
 {| class="wikitable" style="border-collapse: collapse; width: 100%; height: 92px; background-color: #ffffff;"
 |- style="height: 23px;"
 | style="width: 19.6976%; height: 23px; background-color: #99e1d9;" |
-Disposability discourse
+'''Privatizing public services'''
 | style="width: 80.3024%; height: 23px;" |
-Much discussion around the severity of COVID was lessened by expressing how it mainly sickens and kills elderly, chronically ill, and disabled people. This discourse suggests these groups are seen disposable.&nbsp;
-|- style="height: 23px;"
+*Under neoliberalism, public services deteriorate from a lack of funding. Soon they are sold off cheaply to the private sector.  <ref>https://beautifultrouble.org/toolbox/tool/neoliberalism</ref>
+*The state becomes prohibited from investing in social infrastructure (health, education, transport,&nbsp; telecommunications etc.) which are managed by corporations for profit. <ref>https://beautifultrouble.org/toolbox/tool/neoliberalism</ref>
+|- style="height: 23px;"
 | style="width: 19.6976%; height: 23px; background-color: #99e1d9;" |
-Loosened restrictions too early
+'''Over-extraction of natural resources'''
 | style="width: 80.3024%; height: 23px;" |
-When governments loosened COVID restrictions in response to business demands, political pressure, and public impatience, rather than scientific evidence, high risk populations (the chronically ill, disabled and elderly) were subsequently told they are disposable yet again.&nbsp;
-|- style="height: 23px;"
+*Where neoliberal policies cannot be imposed domestically, they are imposed internationally, through trade treaties which incorporate offshore tribunals. This allows corporations to press for the removal of social and environmental protections. <ref>https://www.theguardian.com/books/2016/apr/15/neoliberalism-ideology-problem-george-monbiot</ref>
+|- style="height: 23px;"
 | style="width: 19.6976%; height: 23px; background-color: #99e1d9;" |
-Working through illness
+'''Exploitation'''
 | style="width: 80.3024%; height: 23px;" |
-Regulations around how many sick days should be required when someone falls ill with COVID also demonstrated ableism. In relation to these regulations, and in favour of profit above health, many politicians including US President Joe Biden, praised themselves for working through COVID, instead of encouraging people to rest and recover if they'd fallen ill.&nbsp;
-|- style="height: 23px;"
-| style="width: 19.6976%; height: 23px; background-color: #99e1d9;" |
-Individualism
-| style="width: 80.3024%; height: 23px;" |
-Individuals have been encouraged to make 'personal' choices on vaccines (without legitimate health restrictions), masks and gatherings.
-"''There is no individual safety without collective safety and collective safety requires that no one is safe unless everyone is safe." - Mia Mingus  <ref>https://leavingevidence.wordpress.com/2022/01/16/you-are-not-entitled-to-our-deaths-covid-abled-supremacy-interdependence/</ref>  ''
+*In the majority world, the state is barred from subsidizing agricultural production (unlike in Europe and the US). Tariff barriers that protect national economies are removed, rights to natural resources are auctioned off at lower cost, and taxes are cut. The result is wealth inequality and public debt. <ref>https://beautifultrouble.org/toolbox/tool/neoliberalism</ref>
+*Small loan schemes devastate the lives of millions of people living in poverty. See [https://www.theguardian.com/world/2011/jan/31/india-microfinance-debt-struggle-suicide this example on India's crisis.]
+|}
-|}
 <br>
 <br>If you have any suggested revisions or additional resources to share related to the above content, please email them to kenzie@lehub.ca.

Neoliberalism: Difference between revisions

Revision as of 15:47, 20 October 2022

How does neoliberalism work?

Consequences of neoliberalism

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