Thursday, December 20, 2012
Vamsi Vakulabharanam — Why Does Neoliberalism Persist Even After the Global Crisis?
Analysis of India by an Indian economist in which the author shows how neoliberalism is joined at the hip with neo-imperialism and neocolonialism. The twist in history is that now these same methods are being used in the home countries as well whereas before the developing world was more targeted.
To this I would add, that the shift of focus to a global paradigm occurred with the fall of the Soviet Union and the liberalization of Chinese economic policy, which ends socialism as a practical alternative to market capitalism. Then the thrust was to establish laissez-faire globally, which frees elites to expropriate property based on the myth of more efficient use.
Why Does Neoliberalism Persist Even After the Global Crisis?
Vamsi Vakulabharanam | School of Economics, University of Hyderabad
(h/t Yves Smith at Naked Capitalism)