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Time is up for neoliberals | Democracy requires a new, progressive capitalism. (www.washingtonpost.com)

submitted 6 months ago by [email protected] to c/[email protected]

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We care about freedom from hunger, unemployment and poverty — and, as FDR emphasized, freedom from fear. People with just enough to get by don’t have freedom — they do what they must to survive. And we need to focus on giving more people the freedom to live up to their potential, to flourish and to be creative. An agenda that would increase the number of children growing up in poverty or parents worrying about how they are going to pay for health care — necessary for the most basic freedom, the freedom to live — is not a freedom agenda.

Champions of the neoliberal order, moreover, too often fail to recognize that one person’s freedom is another’s unfreedom — or, as Isaiah Berlin put it, freedom for the wolves has often meant death to the sheep. Freedom to carry a gun may mean death to those who are gunned down in the mass killings that have become an almost daily occurrence in the United States. Freedom not to be vaccinated or wear masks may mean others lose the freedom to live.

There are trade-offs, and trade-offs are the bread and butter of economics. The climate crisis shows that we have not gone far enough in regulating pollution; giving more freedom to corporations to pollute reduces the freedom of the rest of us to live a healthy life — and in the case of those with asthma, even the freedom to live. Freeing bankers from what they claimed to be excessively burdensome regulations put the rest of us at risk of a downturn potentially as bad as the Great Depression of the 1930s when the banking system imploded in 2008.

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[–] [email protected] 10 points 6 months ago

We’ve now had four decades of the neoliberal “experiment,” beginning with Ronald Reagan and Margaret Thatcher. The results are clear. Neoliberalism expanded the freedom of corporations and billionaires to do as they will and amass huge fortunes, but it also exacted a steep price: the well-being and freedom of the rest of society.

Friedman and his acolytes failed to understand an essential feature of freedom: that there are two kinds, positive and negative; freedom to do and freedom from harm. “Free markets” alone fail to provide economic stability or security against the economic vagaries they create, let alone allow large fractions of the population to live up to their potential.

The road to authoritarianism is not paved by government doing too much but too little.

We care about freedom from hunger, unemployment and poverty — and, as FDR emphasized, freedom from fear. People with just enough to get by don’t have freedom

A lot of good criticisms in here but not a lot in terms of proposals. The proposals are a little vague.