this post was submitted on 26 Jun 2023

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166

YSK that “neoliberal” refers to a discrete set of economic policies including deregulation, privatization, and so-called “free trade” implemented by both center-right and center-left parties (lemmy.world)

submitted 1 year ago* (last edited 1 year ago) by [email protected] to c/[email protected]

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Why YSK: I’ve noticed in recent years more people using “neoliberal” to mean “Democrat/Labor/Social Democrat politicians I don’t like”. This confusion arises from the different meanings “liberal” has in American politics and further muddies the waters.

Neoliberalism came to the fore during the 80’s under Reagan and Thatcher and have continued mostly uninterrupted since. Clinton, both Bushs, Obama, Blair, Brown, Cameron, Johnson, and many other world leaders and national parties support neoliberal policies, despite their nominal opposition to one another at the ballot box.

It is important that people understand how neoliberalism has reshaped the world economy in the past four decades, especially people who are too young to remember what things were like before. Deregulation and privatization were touted as cost-saving measures, but the practical effect for most people is that many aspects of our lives are now run by corporations who (by law!) put profits above all else. Neoliberalism has hollowed out national economies by allowing the offshoring of general labor jobs from developed countries.

In the 80’s and 90’s there was an “anti-globalization” movement of the left that sought to oppose these changes. The consequences they warned of have come to pass. Sadly, most organized opposition to neoliberal policies these days comes from the right. Both Trump and the Brexit campaign were premised on reinvigorating national economies. Naturally, both failed, in part because they had no cohesive plan or understanding that they were going against 40 years of precedent.

So, yes, establishment Democrats are neoliberals, but so are most Republicans.

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[–] [email protected] 1 points 1 year ago (1 children)

When you're talking about neoliberalism, 'globalism' also has a lot to do with trade and international finance- from the 1940s (after fallout of the great depression and the World Wars) Keynesian economics was 'in', and international lending agreements upheld countries' ability to conduct nation-level managed/mixed economies- but when the neoliberals swung into power, the new order of the day was to strip countries of their self-managing ability in ways that made them accessible to/exploitable by global conglomerates and corporations:

At Bretton Woods in 1944, the use of fixed exchange rates and controls on speculative private capital, plus the creation of the IMFand World Bank, were intended to allow member countries to practice national forms of managed capitalism, insulated from the destructive and deflationary influences of short-term speculative private capital flows. As doctrine and power shifted in the 1970s, the IMF, the World Bank, and later the WTO, which replaced the old GATT, mutated into their ideological opposite. Rather than instruments of support for mixed national economies, they became enforcers of neoliberal policies.

The standard package of the “Washington Consensus” of approved policies for developing nations included demands that they open their capital markets to speculative private finance, as well as cutting taxes on capital, weakening social transfers, and gutting labor regulation and public ownership. ~ https://prospect.org/economy/neoliberalism-political-success-economic-failure/

So, in this sense, 'globalization' not just the opening of borders for labor and immigration, it is the swing away from 'nationalization' of economies and of national economic sovereignty, to prevent countries from impeding the flow of capital (and corporate power) into and out of their borders on behalf of global finance and colonial power

[–] [email protected] 0 points 1 year ago (1 children)

"National economic sovereignty" meaning what, exactly?

[–] [email protected] 0 points 1 year ago* (last edited 1 year ago) (1 children)

It's the notion that by being a country you should be able to make and enforce your own economic policies for the benefit of your citizenry instead of, for example, for the benefit of outside capital.

In reality, the right of countries to do basic things like enforce their own labor regulations and put limits on outside capital's access to their resources (or to publicly own resources) has been deeply infringed upon if not outright violated; look at how United Fruit basically toppled governments that put worker's rights or land ownership rules at odds with company profits.

The rest of this conversation talks a lot about 'globalism', I brought up 'national economic sovereignty' to distinguish economic self-rule from the kind of globalized rule that turned countries into banana republics, essentially ruled by puppets on behalf of foreign corporate interests.

[–] [email protected] 0 points 1 year ago (1 children)

Do you think the economic sovereignty of a fascist dictatorship that expropriates property by ethnicity ought to be recognized? Note that I'm not asking if you're for supporting fascists, because you can be openly belligerent against a nation who you nonetheless recognize as sovereign over their economy.

If not, I'm interested to hear your standards for what economic sovereignty should be respected.

[–] [email protected] 0 points 1 year ago (1 children)

I think that 'economic sovereignty' as such is a value-neutral proposition; it can be done for good or ill. I consider it like anything else in the toolbox; a chainsaw can be helpful or terrifying, depending on who has it and what they decide to do with it. Is a federated republic a good or bad thing because some of the people with power in it might be fascists? I think those are separable notions; in my view, sovereignty and federation are useful for what they get you- for example they are means of checking power located elsewhere.

Since you're asking my views on supporting fascism, that's a hard 'no' from me and if you're trying to guess from my use of 'nationalism' and its buzzwordy association with fascists that I'm trying to carve out a toehold to legitimize fascism under the aegis of nationalism, you're reading between the lines for something I'm not arguing.

Are you suggesting that Guatemala or any of the other Banana republics were fascist dictatorships for expropriating land? If so, I have opinions about the US toppling democracies in Latin America and calling *them *fascist or racist along the way to justify it- not only is it the pot calling the kettle black, it's the opposite of what happened.

[–] [email protected] 1 points 1 year ago

I'm referring to contemporary arguments about whether trade agreements with countries which had previously been Russian or Chinese client states are "imperialism"