Thursday, February 9, 2012

Thought of the Day: Neoliberalism Is Just Another Ideology

Neoliberalism is a term used in political and economic theory to refer to the economic outlook that privileges the private sector, free markets, free trade, and globalization; it generally resists all but a minimal safety net and it abhors the idea of controls on international trade to make it fair or uphold labor standards or quality of life. It is the standard economic philosophy of the right but also of many in the establishment center-left. Neoliberalism is a mutation of the liberal tradition. Its values, in practice, are not liberty, equality, and fraternity, but property, exploitation, extraction, and estrangement. It only uses the traditional liberal values in theory to justify its abuses, and its ideologists are as committed to their distortions to the same degree as Soviet communists or Mussolini’s fascists once were to theirs. And just as those ideologies disappeared, so will this one. 

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