http://www.madison.com/tct/mad/topstories//index.php?ntid=82057UW prof takes neoliberalism fight to streets
By Aaron Nathans
April 29, 2006
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No, neoliberal and liberal are not the same thing, and it isn't a very new concept. Peck has made it his life's work to examine the effects of the economic theory on the populace.
Peck said conservative think tanks like the Heritage Foundation and the American Enterprise Institute guard the philosophy of neoliberalism: low-taxation, low-spending, anti-welfare, anti-union, and minimal government intervention. That "laissez-faire" approach to economic markets began in the 1970s and has grown to become both the Republican and, lately, Democratic governing economic philosophy, he said.
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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.