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Neoliberalism – the ideology at the root of all our problems

Neoliberalism – the ideology at the root of all our problems
Imagine if the people of the Soviet Union had never heard of communism. The ideology that dominates our lives has, for most of us, no name. Mention it in conversation and you’ll be rewarded with a shrug. Even if your listeners have heard the term before, they will struggle to define it. Neoliberalism: do you know what it is? Its anonymity is both a symptom and cause of its power. So pervasive has neoliberalism become that we seldom even recognise it as an ideology. Neoliberalism sees competition as the defining characteristic of human relations. Attempts to limit competition are treated as inimical to liberty. We internalise and reproduce its creeds. Never mind structural unemployment: if you don’t have a job it’s because you are unenterprising. Among the results, as Paul Verhaeghe documents in his book What About Me? The term neoliberalism was coined at a meeting in Paris in 1938. As it evolved, neoliberalism became more strident. Like communism, neoliberalism is the God that failed.

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How the Invisible Hand Was Corrupted by Laissez-Faire Economics - Evonomics By Jeff Madrick As I learned my economics and further explored the influence of the Invisible Hand, the power of ideas became clearer to me. Economic ideas have had enormous influence on economic conditions—and vice versa. Over the past thirty-five years, the ideas at the center of orthodox economics, did damage and laid the groundwork for the financial crisis of 2008 and the Great Recession that followed. Addicted to Failure Neoliberalism foists on career-minded millennials; a self-relation which resembles that of alcoholics in the throes of addiction A friend of mine is in a program now, and she’s doing much better. Underearners Anonymous (UA), a 12-step program founded in New York City in 2006, is a program for people who have trouble pursuing their personal “vision,” a term which appears seven times in the brief “About UA” pamphlet. In one sense, “underearning” is simply what its name implies: an “inability to provide for one’s needs.” But it’s not just about earning a higher salary.

Taxpayers gifting big banks $1.4 billion a year So one rating agency has gone off the "gunja". A year ago I wrote that with the worst gross government debt-to-GDP ratio in over 27 years and the biggest cumulative deficits in the post-war period, Australia "does not deserve a AAA credit rating…[and] the rating agencies are smoking dope if they think Australia is a better "credit" today than it was in the 1980s and 1990s" (when it had lesser ratings). While some folks dismissed this as scaremongering (like our warnings on housing, hybrids, bank capital, bad debts and returns), Moody's has lifted its head out of the sand. On Thursday it published a scathing critique of the government's inability to balance the books despite solid GDP growth and a 5.7 unemployment rate, highlighting that Australia's credit fundamentals will soon be worse than the median AAA rated peer. Does this have consequences for the banks? You bet.

Greens blame Tory majority on Labour's willingness to "accept the narrative of its opponents" I suppose it is inevitable when you are involved in a political campaign that military analogies come to mind. As a Quaker, I sometimes find this troubling, but on the other hand I think democratic politics is an alternative to war and so perhaps it is quite appropriate. I now see Ed Miliband as a general surveying a battlefield on which he has been defeated the previous day. His decision to resign instantly following the announcement of the result is being interpreted as indicating his nobility, but accepting that Labour was roundly defeated on Thursday is just another example of how Labour has accepted the narrative of its opponents. Of all the mistakes it has made over the past year this is the most serious. So can we consider the general election in 2015 a stunning victory for David Cameron?

When Systems Crumble: Looking Beyond Global Capitalism Is the employee-employer relationship of capitalism crumbling, just like feudalism did before? (Image: Jared Rodriguez / Truthout) As global capitalism staggers painfully, unevenly and dangerously in the wake of its 2008 collapse, its critics divide into two broad camps. One commits to fixing or reforming a capitalism that has somehow lost its way. The other finds capitalism irreparably inadequate and seeks transition to a new and different system. The two camps see many of the same faults: how capitalism relentlessly deepens inequalities of income, wealth, power and access to culture; capitalism's instability (those socially costly cycles it never managed to prevent); and its consequent injustices.

Against Charity The new issue of Jacobin, centering on development and the Global South, is out now. To celebrate its release, new subscriptions start at only $14.95. Imagine you came across a child drowning in a small pond and you were the only one around to help. StanChart opens innovation lab in Singapore, News, News, AsiaOne Business News Singapore - Standard Chartered Bank (StanChart) on Wednesday announced the opening of its Asian innovation lab in Singapore. Called the eXellerator, the lab builds upon the bank's technology centre in Silicon Valley, SC Studios, and is the first such dedicated and strategic space for the bank in this region. Anju Patwardhan, StanChart's global chief innovation officer, said the Singapore eXellerator, which is located in the bank's main office building at Marina Bay Financial Centre, will work closely with the business units within StanChart and explore the use of emerging technologies and data science for sustainable business solutions. Speaking to The Business Times, she added that the innovation lab will support global initiatives and employ about 15 to 20 people. "We have recruited part of the team, and will be recruiting the rest over the next few months.

Is the left in Britain still alive and well? Rosie Rogers, 28, and I are sitting in a tipi outside her office in Highbury, London. (She works for Greenpeace as a political adviser – of course they have a tipi.) I’m on a quest to find the British left, because it’s become apparent no one quite knows where it has gone, or what it looks like. Far from a beating heart, these days it is made up of many small organisations. “You know the Brownies,” Rogers asks. “You have all those patches?

Simple Rules of Capitalism — Collaborative Fund You can’t accurately describe how complicated the global economy is. There are more than 200,000,000 businesses in the world. Three-hundred trillion dollars of financial assets. Neoliberalism: the deep story that lies beneath Donald Trump’s triumph The events that led to Donald Trump’s election started in England in 1975. At a meeting a few months after Margaret Thatcher became leader of the Conservative party, one of her colleagues, or so the story goes, was explaining what he saw as the core beliefs of conservatism. She snapped open her handbag, pulled out a dog-eared book, and slammed it on the table.