Neoliberalism

Neoliberalism is a broad-term ideology that is considered to be economically centrist to  right-wing (depends on how much they support/oppose government interventionism, spending and welfare), inspired by  monetarist/Friedmanite policies and is often  interventionist,  culturally variable, and  globalist, although there is general disagreement on what exactly the term means on both the left and the right.

On the right, the term "Neoliberalism" is occasionally thrown around for Managerial Capitalism, which is an economic phenomenon that originates from the end of World War Two. Managerialism differentiates itself from traditional Capitalism, while the latter is oriented on the economic power generally being held by the owners within society, managerialism is seen as diluting ownership within society to a point where owners can no longer exert power over businesses and rather this power being moved towards a professional manager class. Neoliberalism in this sense is seen as being pro-government involvement in the economy.

It's also used by some Libertarians as a defense when they're called Neoliberals, by the meaning the ideology of Andrew Rüstow,  Ordo-Liberalism, which he also called Neoliberalism, as an in-between ideology between the kind of English Laissez-Faire  Classical Liberalism of Adam Smith and  Socialism.

The term is also sometimes used by Right-Libertarians to call Neoliberalism simply the current status-quo but characterizing it and its model as a  Pro-Keynesianism. Neoliberalism is also accused of being a corporate ideology that favors big businesses over small ones by regulations and taxes that hit harder small businesses or simply lobbying and giving direct benefits towards big businesses such as subsidies, tax exemption, etc...

On the Left, the term "Neoliberalism" is used for the doctrine that was theorised by Hayek, Friedman, von Mises et al. and popularized by Margaret Thatcher and Ronald Reagan applied at the time, harkening back to   Classical Liberal doctrine. Neoliberalism in this sense is rather pro-competition, favouring lenient tax policies and low regulation, except in the area of regulation of trade unions. It would be erroneous to characterize this description as "anti-government involvement", as those who use this definition acknowledge that Neoliberal governments frequently involve themselves in the economy if it's to further the interests of market competition, such as bailing out "too big to fail" banks.

To many, however, neoliberalism just means something they hate, the more they hate it, the more neoliberal it is.

History
Amidst the Great Depression, many liberals with different tendencies gathered together in Colloque Walter Lippmann. There were two distinct camps at play, the classical liberal group and the  social-liberal group much more open to Keynesian policies. Although the participants couldn't agree on a comprehensive philosophy, they all agree on the necessity of new liberalism (aka neoliberalism) to combat socialism,  collectivism, and  laissez-faire liberalism.

Despite being largely ineffective, it served as a precursor to a much more significant Mont Pelerin Society. During the post-war Neo-Keynesian consensus, their ideas weren't very popular, being known only in think tanks and universities. It wasn't until the stagflation in the 1970s that the sustained effort by an aforementioned group of economists caused neoliberal thought to be widespread globally.

[[File:Cball-Chile.png]] Chile
"Main article: Pinochetism" Chile was among the earliest nations to implement neoliberal reform. Marxist economic geographer David Harvey has described the substantial neoliberal reforms in Chile beginning in the 1970s as "the first experiment with neoliberal state formation", which would provide "helpful evidence to support the subsequent turn to neoliberalism in both Britain...and the United States." Similarly, Vincent Bevins says that Chile under Augusto Pinochet "became the world's first test case for "neoliberal" economics."

The turn to neoliberal policies in Chile originated with the Chicago Boys, a select group of Chilean students who, beginning in 1955, were invited to the University of Chicago to pursue postgraduate studies in economics. They studied directly under Milton Friedman and his disciple, Arnold Harberger, and were exposed to  Friedrich Hayek. Upon their return to Chile, their neoliberal policy proposals—which centered on widespread deregulation, privatization, reductions to government spending to counter high inflation, and other free-market policies—would remain largely on the fringes of Chilean economic and political thought for a number of years, as the presidency of Salvador Allende (1970–1973) brought about a socialist reorientation of the economy.

During the Allende presidency, Chile experienced a severe economic crisis, in which Chile's GDP fell by 14.3%, its unemployment rate rose to 23.7%, and inflation peaked near 150%. Following an extended period of social unrest and political tension, as well as diplomatic, economic, and covert pressure from the United States, the Chilean armed forces and national police overthrew the Allende government in a coup d'état. They established a repressive military junta, known for its suppression of opposition, and appointed army chief Augusto Pinochet Supreme Head of the nation. His rule was later given legal legitimacy through a controversial 1980 plebiscite, which approved a new constitution drafted by a government-appointed commission that ensured Pinochet would remain as President for a further eight years—with increased powers—after which he would face a re-election referendum.

The Chicago Boys were given significant political influence within the military dictatorship, and they implemented sweeping economic reform. In contrast to the extensive nationalization and centrally planned economic programs supported by Allende, the Chicago Boys implemented rapid and extensive privatization of state enterprises, deregulation, and significant reductions in trade barriers during the latter half of the 1970s. In 1978, policies that would further reduce the role of the state and infuse competition and individualism into areas such as labor relations, pensions, health and education were introduced. Additionally, the central bank raised interest rates from 49.9% to 178% to counter high inflation.

Pamphlet calling for a protest of economic policy in 1983 following the economic crisis

These policies amounted to a shock therapy, which rapidly transformed Chile from an economy with a protected market and strong government intervention into a liberalized, world-integrated economy, where market forces were left free to guide most of the economy's decisions. Inflation was tempered, falling from over 600% in 1974, to below 50% by 1979, to below 10% right before the economic crisis of 1982. GDP growth spiked (see chart) to 10%. However, inequality widened as wages and benefits to the working class were reduced.

In 1982, Chile again experienced a severe economic recession. The cause of this is contested, however most scholars believe the Latin American debt crisis—which swept nearly all of Latin America into financial crisis—was a primary cause. Some scholars argue the neoliberal policies of the Chicago boys heightened the crisis (for instance, percent GDP decrease was higher than in any other Latin American country) or even caused it; for instance, some scholars criticize the high interest rates of the period which—while stabilizing inflation—hampered investment and contributed to widespread bankruptcy in the banking industry. Other scholars fault governmental departures from the neoliberal agenda; for instance, the government pegged the Chilean peso to the US dollar, against the wishes of the Chicago Boys, which economists believe led to an overvalued peso.

[[File:Cball-UK.png]] United Kingdom [[File:Thatcher.png]]
During her tenure as Prime Minister, Margaret Thatcher oversaw a number of neoliberal reforms, including tax reduction, exchange rate reform, deregulation, and privatisation. These reforms were continued and supported by her successor John Major. Although opposed by the Labour Party, the reforms were, according to some scholars, largely left unaltered when Labour returned to power in 1997.

The Adam Smith Institute, a United Kingdom-based free-market think tank and lobbying group formed in 1977 which was a major driver of the aforementioned neoliberal reforms, officially changed its Libertarian label to neoliberal in October 2016.

According to economists Denzau and Roy, the "shift from Keynesian ideas toward neoliberalism influenced the fiscal policy strategies of the  New Democrats and  New Labour in both the White House and Whitehall.... Reagan,  Thatcher,  Clinton, and  Blair all adopted broadly similar neoliberal beliefs.".

It is worth noting however that neoliberalism has moved away from the ideology of Thatcher and has become far more open to some regulation, social services, etc.

[[File:Cball-US.png]] United States [[File:Reagan.png]]
While a number of recent histories of neoliberalism in the United States have traced its origins back to the urban renewal policies of the 1950s, Marxist economic geographer David Harvey argues the rise of neoliberal policies in the United States occurred during the 1970s energy crisis, and traces the origin of its political rise to Lewis Powell's 1971 confidential memorandum to the Chamber of Commerce in particular. A call to arms to the business community to counter criticism of the free enterprise system, it was a significant factor in the rise of Conservative   and  Libertarian organizations and think-tanks which advocated for neoliberal policies, such as the Business Roundtable, The Heritage Foundation, the Cato Institute, Citizens for a Sound Economy, Accuracy in Academia and the Manhattan Institute for Policy Research. For Powell, universities were becoming an ideological battleground, and he recommended the establishment of an intellectual infrastructure to serve as a counterweight to the increasingly popular ideas of Ralph Nader and other opponents of big business. The original neoliberals on the left included, among others, Michael Kinsley, Charles Peters, James Fallows, Nicholas Lemann, Bill Bradley, Bruce Babbitt, Gary Hart, and Paul Tsongas. Sometimes called “Atari Democrats,” these were the men — and they were almost all men — who helped to remake liberalism into neoliberalism, culminating in the election of  Bill Clinton in 1992. These new liberals would recoil in horror at the policies and programs of mid-century liberals like Walter Reuther or John Kenneth Galbraith or even Arthur Schlesinger.

Early roots of neoliberalism were laid in the 1970s during the Carter administration, with deregulation of the trucking, banking and airline industries, as well as the appointment of Paul Volcker to chairman of the Federal Reserve. This trend continued into the 1980s under the Reagan administration, which included tax cuts, increased defense spending, financial deregulation and trade deficit expansion. Likewise, concepts of supply-side economics, discussed by the Democrats in the 1970s, culminated in the 1980 Joint Economic Committee report "Plugging in the Supply Side". This was picked up and advanced by the Reagan administration, with Congress following Reagan's basic proposal and cutting federal income taxes across the board by 25% in 1981.

During the 1990s, the Clinton administration also embraced neoliberalism by supporting the passage of the North American Free Trade Agreement (NAFTA), continuing the deregulation of the financial sector through passage of the Commodity Futures Modernization Act and the repeal of the Glass–Steagall Act and implementing cuts to the welfare state through passage of the Personal Responsibility and Work Opportunity Act. The neoliberalism of the Clinton administration differs from that of Reagan as the Clinton administration purged neoliberalism of neoconservative positions on militarism, family values, opposition to multiculturalism and neglect of ecological issues. Writing in New York, journalist Jonathan Chait disputed accusations that the Democratic Party had been hijacked by neoliberals, saying that its policies have largely stayed the same since the New Deal. Instead, Chait suggested these accusations arose from arguments that presented a false dichotomy between free-market economics and socialism, ignoring mixed economies. American feminist philosopher Nancy Fraser says the modern Democratic Party has embraced a "progressive neoliberalism," which she describes as a "progressive-neoliberal alliance of financialization plus emancipation". Historian Walter Scheidel says that both parties shifted to promote free-market capitalism in the 1970s, with the Democratic Party being "instrumental in implementing financial deregulation in the 1990s". Historians Andrew Diamond and Thomas Sugrue argue that neoliberalism became a "'dominant rationality' precisely because it could not be confined to a single partisan identity." Economic and political inequalities in schools, universities, and libraries and an undermining of democratic and civil society institutions influenced by neoliberalism has been explored by Buschman.

Economics
Neoliberalism is not a comprehensive philosophy in and of itself but rather a set of ideas in which adherents can find common ground. Its central proposals are:


 * Pro-private property rights
 * Pro-market, but market failures are corrected
 * Pro-fiat money
 * Free trade
 * Free flow of capital
 * Open immigration
 * Individualism
 * Opposition to [[File:Pop.png]] populism, [[File:Col.png]] collectivism, [[File:Soc.png]] socialism and [[File:Austrobert.png]] Austrian economics.

Since neoliberals want their policy outcome to be measurable, they usually can be quite technocratic, but not to the point of anti-democracy. Additionally, neoliberals can disagree on the size of the welfare state, the necessary regulations, or cooperative economics, but they're never distrustful of markets. It's a big tent, ranging from Third Way to  Chicago school of economics. They're generally supportive of New neoclassical synthesis, a combination of New Keynesianism and New classical economics.

Overall, neoliberalism can be briefly described as the mixture of the Keynesian and  The Chicago School of economics to a varying degree.

International Relations
Along with neorealism, neoliberalism has been the most famous approach since the 1990s. Neoliberalism in IR states that nations should worry about absolute gains, rather than relative gains to other nations. Being a revised version of liberalism, it rejects unscientific applications to be in favor of rigorous testing techniques. The central theory in neoliberalism is the democratic peace theory. It says that no two mature democracies have ever waged wars with each other. By promoting free trade to tie countries together along with encouraging the middle class and liberal democracy, neoliberals want to decrease the chance of war.

Personality
Neoliberalism is usually portrayed as a modern-age businessman and may be portrayed as owning businesses within the comics and will almost always be behind any media within the comics. He is well-spoken and very modern.

Compared to Liberalism and  Neocon, Neoliberal is very much into "woke culture" and will be very defensive of anything  progressive and will use the state to promote socially progressive values... as long as they're profitable, of course.

How to Draw
Neolib_flag.svg Neoliberalism's symbol is based on the logos of the r/neoliberal subreddit. It is a white globe with red landmasses on it.


 * 1) Draw a ball
 * 2) Draw a part of the globe on the ball, using red for land and white for the seas. This does not have to be perfect,.
 * 3) Draw sunglasses on the ball, and you're done!

Friends

 * [[File:Keynes.png]] Keynesianism and [[File:Chilib.png]] The Chicago School - Thanks for the economics.
 * [[File:Orlib.png]] Liberal Dynasty - Despite how much I compete with them in elections, we're still family.
 * [[File: Globeball.png]] Globalism - Gib your natural resources to me, plox!
 * [[File:Lib.png]] Liberalism - My main ideological predecessor.
 * [[File: 3way.png]] Third Way - My son.
 * [[File:Pinkcap.png]] Pink Capitalism - My heir.
 * [[File:Moder.png]] Moderatism - My target demographic.
 * [[File: Mediastocracy flair.png]] Mediacracy - My praxis.
 * [[File: Necon.png]] Neoconservatism - Spread capitalism worldwide baby.
 * [[File:Neobert.png]] Neo-Libertarianism - Same as above but libertarian.
 * [[File:Intercult.png]] Interculturalism - The melting pot model and the promotion of globalization and cultural assimilation integration of various different cultures will certainly help unite the people... To make profit from, of course.
 * [[File:European_Federalism.png]] European Federalism - The EU is one of our most important and treasured institutions. We mustn't let the [[File:Pop.png]] populists and [[File:Nation.png]] nationalists take it away from us!
 * [[File:Liberalconservative.png]] Liberal Conservatism - Sometimes says he doesn't like how "woke" I can get. But I've taught him well and like discussing economics with him.

Frenemies

 * [[File: Libertarian.png]] Libertarianism - Lmao, imagine having Chicago-Austrian economics and not Chicago-Keynesian Economics. Both of us share credit for aspects of Reaganomics during the 1980s, along with NeoCon.
 * [[File:Clib.png]] Classical Liberalism - My grandfather who doesn't like my regulations and invasions. Overall, shares many similarities with [[File: Libertarian.png]] them.
 * [[File:Soclib.png]] Social Liberalism - My dear sibling, but he doesn't like my welfare cuts.
 * [[File:Conserv.png]] Conservatism [[File:Con-t.png]] - We fight sometimes, but he's kinda chill economically. We both like Ronald Reagan and Margaret Thatcher but for different reasons.
 * [[File:Statlib.png]] State Liberalism - Reactionaries and commies are bad, but your violence towards them scares me.
 * [[File:Ford.png]] Fordism - Me but scary and off compass.
 * [[File:Pinochet.png]] Pinochetism - Look I don't like commies either and you have good economic policies, but I think you went too far. Right-wing authoritarianism isn't the answer, m'kay?
 * [[File:Fujimori.png]] Fujimorism - Same as above. But I'd still much rather have you in power than [[File:Mariateguism.png]] him.
 * [[File:Dengf.png]] Dengism - Thanks for the cheap labor and products, but have you ever consider using all those money we earned at something, well, less tyrannical? Also, stop copying things and do your own R&D!
 * [[File:World Federalism2.png]] World Federalism - A bit too extreme for my taste... I also don't like how you cooperate with leftists.
 * [[File:PolState.png]] Police Statism - Most cops are good people, just a few bad apples.

Enemies

 * [[File: Ancapf.png]] Anarcho-Capitalism - Gold isn't money lol.
 * [[File: Synd.png]] Syndicalism - If you don't stop striking I'm sending the cops
 * [[File: Anprim.png]] Anarcho-Primitivism - Technological. Progress. Is. Good. Get that through your thick skull.
 * [[File:Globnat.png]] Alter-Globalization - Wants to do [[File:Globeball.png]] Globalism without me!
 * [[File: Consocf.png]] Conservative Socialism - We differ both economically and culturally.
 * [[File: Dsa.png]] Democratic Socialism - I am the Democratic Party, whether you like it or not!
 * [[File:Biopos.png]] Bio-Posadism - My only weakness, but you won't get past my mask!
 * [[File: Marxlen.png]] Marxism–Leninism - Thinks my policies are "bad for the working class" or something and thinks my wokeness is a sham.
 * [[File: Fash.png]] Fascism - Thinks I'm a degenerate for believing in state-subsidized trans rights and free trade.
 * [[File: Nazi.png]] National Socialism - Supporting free immigration and diversity is evidenced-based! Racist scum!
 * [[File: Strasser.png]] Strasserism - What do you mean, "We must take from the right nationalism without capitalism and from the left socialism without internationalism."? Capitalism and internationalism are awesome.
 * [[File: Soc.png]] Socialism - Something something, same garbage as [[File:Marxlen.png]] Tankie but fewer gulags. Also, why do you hate the global poor?
 * [[File: Ancom.png]] Anarcho-Communism - Something about "the working class not being free" and also about my wokeness being a sham. Most female CEOs are #WOKE!
 * [[File: Socdem.png]] Social Democracy - You're way too regulatory, collectivist, pro-welfare, and distrustful of capitalism. Thanks for letting us have a [[File:3way.png]] child though.
 * [[File: Awaj.png]] Anarchism - So what that I want to use to the state to maintain profits and support progress?
 * [[File: Hoppef.png]] Hoppeanism - The free market needs diversity!
 * [[File: Trumpism.png]] Trumpism - Will you shut up, man?
 * [[File:Lpop.png]] Left-Wing Populism & [[File:Rpop-tinfoilhat.png]] Right-Wing Populism - Both of them spout some shit about "not caring about the poor" and "breeding degeneracy" respectively like I even care.
 * [[File:Whitesup.png]] White Supremacy - Diversity is our strength!
 * [[File: Protect.png]] Protectionism - Why do you hate the global poor?
 * MLM.png Marxism–Leninism–Maoism - My arch-nemesis and the greatest threat to my global hegemony.
 * [[File:Mao3word.png]] Maoism–Third Worldism - Stop calling me a neo-colonialist! I am nothing like those white supremacists of the past.
 * [[File:Tradcon.png]] Classical Conservatism - Why the absolute fuck would you reject the Enlightenment?
 * [[File: Plcn2.png]] Paleoconservatism - Utterly despises globalism. Also, Reagan was a neo-lib; stop being in denial over it!
 * [[File:Soc21.png]] Socialism of the 21st Century - Give me your lithium!
 * [[File:Bidenism.png]] Bidenism - What do you mean "trickle-down economics never have worked"?

Channels

 * Destiny
 * Bastiat

Videos

 * Pros and cons of neoliberalism by HarvardX


 * Neoliberalism the great lie by The Right Report
 * Understanding Neoliberalism: Its Theory, Practice, and Consequences by BadEmpanada

Wikipedia

 * Neoliberalism (international relations)
 * Democratic peace theory
 * Neoliberalism
 * New neoclassical synthesis
 * Economic Globalization
 * Chicago Boys
 * Trickle-Down Economics
 * Welfare Reform
 * Privatization
 * Deregulation
 * Washington Consensus
 * Colloque Walter Lippmann
 * Mont Pelerin Society

People

 * [[File:Cball-Austria.png]] [[File:Cball-UK.png]] Friedrich Hayek [[File:Hayek.png]]
 * [[File:Cball-US.png]] Milton Friedman [[File:Chilib.png]]
 * [[File:Cball-US.png]] James M. Buchanan
 * [[File:Cball-US.png]] Alan Greenspan
 * [[File:Cball-US.png]] Ronald Reagan [[File:Reagan.png]]
 * [[File:Reagan.png]] Reaganomics
 * [[File:Cball-UK.png]] Margaret Thatcher [[File:Thatcher.png]]
 * [[File:Thatcher.png]] Thatcherism
 * [[File:Cball-Chile.png]] Augusto Pinochet [[File:Pinochet.png]]
 * [[File:Argentina.png]] Domingo Cavallo
 * [[File:CBall-Mexico.png]] Carlos Salinas de Gortari
 * [[File:Cball-Newz.png]] Roger Douglas [[File:Rogernomics.png]]
 * [[File:Rogernomics.png]] Rogernomics
 * [[File:Cball-Australia.png]] Bob Hawke
 * [[File:Cball-Chile.png]] José Piñera
 * [[File:Argentina.png]] Carlos Menem
 * [[File:Cball-Peru.png]] Alberto Fujimori [[File:Fujimori.png]]
 * [[File:Fujimori.png]] Fujimorism
 * [[File:Cball-US.png]] Bill Clinton [[File:Clinton.png]]
 * [[File:Cball-UK.png]] Tony Blair [[File:New Labourism.png]]
 * [[File:Argentina.png]] José Alfredo Martínez de Hoz
 * [[File:Cball-Peru.png]] Hernando de Soto
 * [[File:Cball-Germany.png]] Angela Merkel [[File:Merkelism.png]]
 * [[File:Cball-UK.png]] David Cameron [[File:Cameronism.png]]
 * [[File:Cball-Netherlands.png]] Mark Rutte [[File:VVD-icon.png]]
 * [[File:Cball-France.png]] Emmanuel Macron [[File:Macron.png]]
 * [[File:Cball-Ecuador.png]] Lenín Moreno
 * [[File:Cball-Chile.png]] Sebastián Piñera

Media

 * Vox
 * Bloomberg

Articles

 * “Neoliberalism” isn’t an empty epithet. It’s a real, powerful set of ideas.
 * Neoliberalism Is a Political Project
 * The Birth of Neoliberalism: New Brooms
 * Neoliberalism: The Genesis of a Political Swearword
 * A Neo-Liberal's Manifesto
 * Coming out as neoliberals

Online Communities

 * r/neoliberal

Literature

 * Why Nations Fail: The Origins of Power, Prosperity, and Poverty
 * The Neoliberal Mind: The Ideology of the Future
 * Neo-Liberalism and it's prospect by [[File:Chilib.png]] Milton Friedman
 * r/neoliberal's reading list
 * The Strange Non-Death of Neo-Liberalism by Colin Crouch
 * The Ethics of Liberty by [[File:Ancapf.png]] Murray N. Rothbard
 * A Brief History of Neoliberalism by [[File:Ormarxf.png]] David Harvey
 * The Shock Doctrine: The Rise of Disaster Capitalism by [[File:Libsoc.png]] Naomi Klein

The Neo-Liberal Project

 * Neo-Liberal Project
 * Twitter

Gallery
pt-br:Neoliberalismo Neoliberalizm