cross-posted from: https://lemmy.ml/post/19046336
My point is that it’s not as simple as setting “common sense” neoliberal rules when the corporations actively evade them. The problem in the US is also more complicated than you’re making it, here we need to basically redo a court which is full of people on lifetime appointments in order to roll back their ruling that political corruption is basically free speech.
The stuff I described was not a neoliberal rule at all, they abhor any kind of regulation that’s not securing property rights for the affluent.
This “regulate away market failures to approach the ideal of the free market better” thing is ordoliberalism. An actual economic theory I don’t fully agree with but which is mostly sane, and is, most of all, unlike neoliberalism not pure class war. Ordoliberalism e.g. considers welfare necessary so that the labour market isn’t stacked in favour of the employers.
The stuff I described was not a neoliberal rule at all, they abhor any kind of regulation that’s not securing property rights for the affluent.
Don’t agree with your definition of “neoliberal” really at all, and especially not within the context of American politics. It’s too narrow and wouldn’t fit most any politician.
This “regulate away market failures to approach the ideal of the free market better” thing is ordoliberalism.
Do we really have to have yet another esoteric term for what is largely the same school of thought?
I am not really sure what point you are trying to make other than arguing definitions. Much of or even most of prominent American politicians in the last half century or so could be classified as neoliberals. They favor “market”-based solutions to everything and “public-private” partnerships. Many of those still consider welfare necessary as well so they’d be “ordoliberals” in your book.
Ordoliberalism is the German variant of economic liberalism that emphasizes the need for government to ensure that the free market produces results close to its theoretical potential but does not advocate for a welfare state. Ordoliberal ideals became the foundation of the creation of the post-World War II German social market economy and its attendant Wirtschaftswunder.
Actually, maybe not because that just sounds like German for neoliberal.
The concept of regulatory capture is the fundamental illustrating concept in modern US politics. Industry groups and the wealthy sit on our politicians until they get exactly what they want. Traditional and increasingly even social media serve as the persuasion arm for the wealthy, industrial class. Simple rules added in good faith and followed by industry groups via “self-regulation” simply do not work here. Even if you pass the rule and then later try to enforce it, enforcement is made toothless by our Supreme Court.
There are a few places in the country where politicians can hit back at industry groups with some degree of success, but even in our most “ordoliberal” or “liberal liberal” or “neoliberal” or “choco-moco-latta-yaya-liberal” states, industry mostly wins.
And we’re just ahead of the curve in the slow slide toward fascism. Exactly as the Nobel laureate here is saying, neoliberalism is just another mechanism used to hollow out the government from within and make it ineffective until it serves mostly no one, and then that disenchantment with material conditions over time leads to right-wing populism (a.k.a. fascism).
The Marxists have been saying this all along, and I am not a Marxist though I agree with a lot of Marx’s analysis on capitalism and industry. I think there is an alternative, and I think mid-century American politics illustrated it…strong unions, a welfare state, tax policy that levels out wealth inequality, and a government capable of regulating industry.
strong unions, a welfare state, tax policy that levels out wealth inequality, and a government capable of regulating industry.
All those are absolutely things in line with, required by, ordoliberalism. They are very much not in line with neoliberalism. Maybe you should’ve actually read the theory section of that wikipedia article you linked because it talks about unions, of welfare, progressive taxation, and definitely regulations.
Speaking of Marx: He is, via Weber, a definite influence on ordoliberalism. The Freiburg school (whence ordoliberalism) is to economics what the Frankfurt school (whence critical theory) is to sociology.
I said it before and I’ll say it again: The American mind can’t comprehend European social liberals.
Simple rules added in good faith and followed by industry groups via “self-regulation” simply do not work here. Even if you pass the rule and then later try to enforce it, enforcement is made toothless by our Supreme Court.
That may very well be. But you’re talking about the US, specifically. Complaining about regulation not working in the US is like complaining that rule of law is a non-starter in Somalia: The issue is not the idea of the rule of law, but Somalia being Somalia.
