Archive for April, 2016

Neoliberalism

April 16, 2016

The Guardian has an article by George Monbiot on “Neoliberalism – the ideology at the root of all our problems“, an excerpt from a forthcoming book.  He cites von Mises, Hayek and Friedman as the original neoliberals, which is fair enough given their roles in organizations such as the Mont Pelerin Society. What struck me is his account of the role of ideas of deservingness, or merit, in neoliberalism.

“The market ensures that everyone gets what they deserve. We internalise and reproduce its creeds. The rich persuade themselves that they acquired their wealth through merit, ignoring the advantages – such as education, inheritance and class – that may have helped to secure it. The poor begin to blame themselves for their failures, even when they can do little to change their circumstances. Never mind structural unemployment: if you don’t have a job it’s because you are unenterprising. Never mind the impossible costs of housing: if your credit card is maxed out, you’re feckless and improvident. Never mind that your children no longer have a school playing field: if they get fat, it’s your fault. In a world governed by competition, those who fall behind become defined and self-defined as losers.”

As a description of a popular belief system, this account of neoliberalism may be accurate.  But since Monbiot cites Capitalism and Freedom, let’s take a look at what Friedman says. (more…)

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