Get A Brief History of Neoliberalism PDF

By David Harvey

ISBN-10: 0199283273

ISBN-13: 9780199283279

Neoliberalism--the doctrine that industry trade is an ethic in itself, in a position to performing as a advisor for all human action--has turn into dominant in either suggestion and perform all through a lot of the realm on the grounds that 1970 or so. Writing for a large viewers, David Harvey, writer of The New Imperialism and The situation of Postmodernity, right here tells the political-economic tale of the place neoliberalization got here from and the way it proliferated at the international degree. via serious engagement with this historical past, he constructs a framework, not just for examining the political and monetary risks that now encompass us, but additionally for assessing the customers for the extra socially simply possible choices being endorsed through many oppositional movements.

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We now know from British intelligence reports that the US was actively preparing to invade these countries in 1973 in order to restore the flow of oil and bring down oil prices. 20 The latter suddenly found themselves in command of massive funds for which they needed to find profitable outlets. The options within the US, given the depressed economic conditions and low rates of return in the mid-1970s, were not good. More profitable opportunities had to be sought out abroad. Governments seemed the safest bet because, as Walter Wriston, head of Citibank, famously put it, governments can’t move or disappear.

19 This, Volcker argued, was the only way out of the grumbling crisis of stagflation that had characterized the US and much of the global economy throughout the 1970s. The Volcker shock, as it has since come to be known, has to be 23 Freedom’s Just Another Word . . 5 The ‘Volcker shock’: movements in the real rate of interest, US and France, 1960–2001 Source: Duménil and Lévy, Capital Resurgent. interpreted as a necessary but not sufficient condition for neoliberalization. Some central banks had long emphasized antiinflationary fiscal responsibility and adopted policies that were closer to monetarism than to Keynesian orthodoxy.

As Polanyi might have put it, neoliberalism confers rights and freedoms on those ‘whose income, leisure and security need no enhancing’, leaving a pittance for the rest of us. How is it, then, that ‘the rest of us’ have so easily acquiesced in this state of affairs? 38 2 The Construction of Consent How was neoliberalization accomplished, and by whom? The answer in countries such as Chile and Argentina in the 1970s was as simple as it was swift, brutal, and sure: a military coup backed by the traditional upper classes (as well as by the US government), followed by the fierce repression of all solidarities created within the labour and urban social movements which had so threatened their power.

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A Brief History of Neoliberalism by David Harvey

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