Snake_Baker
The one true King of the North
- Apr 24, 2013
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A very good critique
What neoliberalism misses or ignores is that a world of apparently neutral rules is still a world of power inequalities. When capital has more freedom than people, serious democratic deficits are guaranteed. Voters may prefer a strong welfare state, but they may get austerity instead. In many nations, including the United States, the power of money in politics gives concentrated wealth a sword to hold over democracy’s neck. As the wealthy exert ever more influence over the political process, we may be closer to William Hutt’s plan for weighted voting than we would probably admit. In the neoliberal view, this is how it is supposed to work. It is, in Hayek’s language, the “discipline of freedom.” But it makes the goal of achieving relative equality through democracy very difficult.
https://newrepublic.com/article/147810/worlds-apart-neoliberalism-shapes-global-economy
What neoliberalism misses or ignores is that a world of apparently neutral rules is still a world of power inequalities. When capital has more freedom than people, serious democratic deficits are guaranteed. Voters may prefer a strong welfare state, but they may get austerity instead. In many nations, including the United States, the power of money in politics gives concentrated wealth a sword to hold over democracy’s neck. As the wealthy exert ever more influence over the political process, we may be closer to William Hutt’s plan for weighted voting than we would probably admit. In the neoliberal view, this is how it is supposed to work. It is, in Hayek’s language, the “discipline of freedom.” But it makes the goal of achieving relative equality through democracy very difficult.
https://newrepublic.com/article/147810/worlds-apart-neoliberalism-shapes-global-economy