The Scourge of Neoliberalism describes the origins and evolution of the specifically American form of Neoliberalism. Its expansionary phasefrom 1978 to 2008was disrupted by the global crash and crisis of 2008-09 and was only partially restored by the Obama regime thereafter. Trump’s attempt to resuscitate Neoliberalism has led to the emergence of a new, more aggressive and virulent form which, despite some gains, is nonetheless a destabilizing policy regimen destined to break down with the next global economic crisis, which is likely occur by 2020.
The political consequences of US neoliberal policy evolution and restoration efforts have led, on the one hand, to the breakdown of government institutions, the decline of mainstream political parties, the atrophy of democratic practices, rights and values, and attacks on civil liberties, and on the other to the embedding of the Neoliberal credo that business tax cuts create jobs, free trade benefits all, low interest rates generate investment, entitlement programs are the cause of government deficits, markets are always efficient, recessions are caused by external shocks to an otherwise stable equilibrium system, and similar empirically unverifiable propositions.
In describing the evolution of Neoliberal policies from Reagan through Clinton, the Bushes, Obama, and Trump presidencies, Rasmus shows how they have played a central enabling role in the financialization of the US capitalist economy, in its ever-growing income and wealth inequality gaps, and in the increasing polarization of US society and polity.
|Publisher:||Clarity Press, Incorporated|
|Edition description:||New Edition|
|Product dimensions:||5.90(w) x 8.90(h) x 0.80(d)|
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Table of Contents
Chapter 1 Neoliberalism: A Wolf in Classical Liberal Clothing 1
Chapter 2 Capitalist Restructurings in America, 1909-2007 33
Chapter 3 Reagan and the Origins of Neoliberal Policy, 1980-1988 57
Chapter 4 Clean Up and Consolidation: George H. W. Bush, 1989-1992 76
Chapter 5 Clinton and Democrats Expand Neoliberalism, 1993-2000 88
Chapter 6 Neoliberalism on Steroids: George W. Bush, 2001-2008 97
Chapter 7 Neoliberalism on Opioids: 2008-2009 Crash and Obama 106
Chapter 8 Trump's Neoliberalism 2.0 Restoration 122
Chapter 9 Capitalism's Next "Natural" Restructuring and Crisis 208
Chapter 10 How Neoliberalism Destroys Democracy 242