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A great UCL lecture on Neoliberalism, a system whose underlying ideology is market fundamentalism. Post-Brexit encapsulates this to a T, the weakening of public power by ceding it to private power, public money transferred to private hands. #BrexitReality
Just like Trump and Johnson, Neoliberalism is two-faced, freedom for some, oppressive force for others. Main culprits were ideological enemies of social egalitarianism and managed capitalism, Adam Smith and Margaret Thatcher. >
> It was they who leapfrogged the work of economist John Maynard Keynes who exposed the folly of imposing austerity as policy via crises. Why? For Free market corporate hegemony, deregulation, laissez-faire/anarcho-capitalism and the belief that markets will regulate themselves.
Demise of classic liberalism came during the Great Depression and WWII. Like Brexit too many people paid attention to what was promised and not enough attention to what was actually being delivered. UK now experiencing the consequences of not paying attention to the experts.
Neoliberalism origins began in 1970s Chile where a CIA-backed military coup enabled right-wingers to install a military Govt that ‘disappeared’ dissenting citizens, intellectuals, judges, academics, social democrats to undo democracy.
Thinkers fomenting this attack on the social contract were Hayek, Ayn Rand, Bill Buckley and Milton Friedman backed by the likes of Koch Oil, who incidentally sold crude oil separation tech to Stalin and Hitler in the 1930’s.
Neoliberalism is full of paradoxes, libertarianism (free trade, free markets) actively sought out violence and authoritarian rule to justify the annihilation of social democracy and egalitarian economics. Libertarianism in the words of Peter Thiel is incompatible with democracy.
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