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'Power concedes nothing without a demand. It never did & it never will' - Frederick Douglass #FuckMusk #FuckFarage #FuckTrump @docrussjackson.bsky.social

Mar 8, 2022, 9 tweets

#THREAD

#Neoliberalism has been a cataclysmic failure:

Taxes for the rich have been cut, & regulation reduced or privatized

Worker, consumer & environmental protections have been removed

Deregulation produces not competition, but market concentration

prospect.org/economy/neolib…

Economic power has resulted in feedback loops of political power, in which elites make rules that bolster further concentration

Wealth distribution is vastly more unequal, yet economic growth is slower & more chaotic than during the era of managed capitalism

Daily life has become more of a struggle for hundreds of millions of ordinary decent people

The economic collapse of 2008 was the result of the deregulation of finance, costing the US economy upwards of $15 TRILLION (vastly more globally)

Free-market theory presumes that innovation is necessarily benign. But much of the financial engineering of the deregulatory era was self-serving, opaque, & corrupt—the opposite of an efficient & transparent market

The existential threat of global climate change reflects the incompetence of markets to accurately price carbon & the escalating costs of pollution

The entrenched political power of extractive industries & their political allies influences the rules & the market price of carbon

The grand neoliberal experiment of the past 40 years has demonstrated that markets in fact do not regulate themselves

Democracy itself is under threat: increasingly authoritarian & antidemocratic legislation is being introduced in supposedly democratic countries like Britain.

It's not simply the neoliberalism of outsourcing, privatization, & shrinking the state. The US Libertarian-right billionaire project, now playing out in the UK as well as the US, is nothing less than a permanent alteration power relations: dismantle democracy & install #oligarchy

🚨How did Britain get here?

🚨What has been the true cost to British people?

🚨And most importantly, WTAF are we going to do about it?

🚨If we don't take decisive action NOW, it may well be too late.

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