Capitalism

A Bit About Neoliberalism

The term neoliberalism is often criticized because it is used in various ways and understood differently by different people. It’s a slippery concept, but one could also say that about liberalism or democracy or conservatism. Each of these words is tricky and takes on different shapes in different times and places, and that’s true of

Capitalism

Why is trickle-down economics still with us?

This gonzo economic theory continues to live on, notwithstanding its repeated failures Within weeks of taking office, Britain’s new prime minister, Liz Truss, and her chancellor of the exchequer, Kwasi Kwarteng, proposed a radical new set of economic measures that echoed the trickle-down policies of Margaret Thatcher and Ronald Reagan – heavy on tax cuts for

Capitalism

We Can Reimagine Our Systems of Ownership and Control

The Left’s agenda has to include three basic commitments: democratize production, decommodify life’s essentials, and defend the public goods we all hold in common. To do that, we have to transform the very idea of ownership. Throughout the pandemic and the period of economic pain it brought, the news cycle has been gripped by a

Capitalism

Economists Say Life Is Going to Be More Expensive…

The price of essentials like rent and medical drugs will never come down to pre-pandemic inflation levels if corporate greed goes unchallenged. These days, it seems like everyone has a few important questions on their mind: Is the economy still in the gutter? Or are things getting better? Does inflation mean prices will stay high

Capitalism

The Free Market Is Making All Our Problems Worse,…

The world is on fire all around us. The free market can’t put that fire out — only massive state intervention in the economy can. Mainstream politicians these days are constantly looking for excuses to justify their divergence from market dogma. From the pandemic to the energy crisis, the war in Ukraine and growing inflation,

Capitalism

The Neoliberal Order Is Crumbling. It’s Up to Us…

AN INTERVIEW WITHGARY GERSTLE Neoliberalism may not be dead, but it is no longer the unquestioned ideology of our time. That leaves a huge opening for those on the Left who want to see a political and economic order based on democracy and solidarity rather than unbridled profit-seeking. A political movement becomes a political order