Neoliberalism in the US.

[rodeodance]

The Capital Times, Madison, WI.

http://www.madison.com/tct/mad/topstories//index.php?ntid=82057
UW prof takes neoliberalism fight to streets

By Aaron Nathans
April 29, 2006


Peck said the postwar, pre-1970s era was a time of stable markets, when the U.S. government would spend its way out of a recession by building roads and bridges and pumping money back into the economy. Between 1945 and 1973, the average family saw its income double, he said. Many consider them "the 30 golden years," a time of relative social equality, he said.

But neoliberalism began finding a niche under President Reagan and British Prime Minister Margaret Thatcher, Peck said. Even under President Bill Clinton, there was welfare reform, NAFTA and a balanced budget. These days, in order to be elected, even Democrats must spurn tax increases and go neoliberal, even if they also have liberal social impulses, he said.

"Getting out of the spiral of low-tax, low-investment is extremely difficult to do," he said.

Under President George W. Bush, neoliberalism has been "pushed to the limits," he said. With war, high debt, a trade imbalance and a lack of investment in the social infrastructure, "it's hard to see how the current program is economically sustainable," he said. In recent years, incomes have been stagnant, and people are working more hours, he said.

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[ananda]

1. arrggghh

Neoliberal!!!???

Where do they get these terms?

I like the term corporofascist. It's hard, it's cold, it's accurate.

Sue

[muriel_volestrangler]

6. It is accurate, when the global use of 'liberal' is considered

In 19th century politics, 'liberal', or the equivalent word in other languages, refered to being in favour of expanded trade, and a lack of economic barriers. In most of Europe, it still means this. 'Neoliberal' is a term that has become most used in the developing world to refer to people advocating free trade again, rather than a government-directed economy (which most countries favoured, to some extent at least, from the Great Depression onwards until Reagan and Thatcher).

See, for instance: What is "Neo-Liberalism"?

[Douglas Carpenter]

2. few people appreciate just how central this issue is . thanks

[brentspeak]

3. Since when is balancing the budget a hallmark of neoliberalism?

Clinton balanced the budget, and yes, he was a "neoliberal", but he didn't balance because he was a neoliberal. He balanced it because it was the proper thing to do.

But he supported and signed onto NAFTA, which wasn't the proper thing to do. Increased unfettered free trade is a hallmark of neoliberalism. Unfettered free trade = lost jobs and lower wages for Americans, which is why I can't stand the neoliberals.

[HereSince1628]

4. Has there ever been a capitalist system that intentionally lowered wages

other than this globalizing free-market monster?

The driving force of 'going south,' off-shoring, and the general glorification of globalization seems to be higher profits thru lower wages and benefits for developed countries.

Now, I accept that as a predictable outcome of capitalists' desire to "externalize" costs, but I wonder has any capitalist system ever intentionally set about to create an economic system that reduces the standard of living of the workers of the nation that spawned it?

[Demeter]

7. Think the Roaring Twenties

[HereSince1628]

8. Could you be a bit more specific?

I don't know much about that period, I know it ended with the stock market crash.

There was a general practice of adopting policies that were reducing wages? Who were the players?

[havocmom]

5. K & R

:kick: for a nice comparison of then (when things went well for most) and now