Neoliberal?

[warrprayer]

What does this term mean to you?
I have my own understanding, as I understand it means one who is social progressive but conservative otherwise.
I would appreciate hearing more in depth or opposing explanation of the term, and how it applies to the current political situation.
Leaving for work, but hope to see some good stuff when I get back!
Thanks for your time and patience.

[Warren Stupidity]

1. Laissez-faire economic policy.

Deregulation "free" trade and monetary policy that focuses on eliminating inflation over maintaining high employment.

Neoliberalism says nothing about social policies or foreign affairs. Neoliberal is found in both parties and in fact is the dominant economic ideology of both parties.

[sharp_stick]

2. I've heard it used

mainly in regards to economics and the "liberalization" of Government policies to increase privatization, deregulation and pretty much every policy loved by Reagan and his ilk.

[oberliner]

4. Al Gore was a prominent neoliberal

At least in the 1990s.

[sharp_stick]

8. I never heard that before

What policy positions did he take, that would cover that?

[oberliner]

11. Seriously?

Gore famously debated Ross Perot laying out the case for NAFTA which passed shortly thereafter (and US support for the trade deal shot up in public opinion polls).

You can read a transcript of the debate here:

http://ggallarotti.web.wesleyan.edu/govt155/goreperot.htm

[oberliner]

3. Free Trade

That's the crux of it. The idea that we live in a global economy and that getting rid of impediments to free trade will be beneficial to all.

[Kelvin Mace]

5. A neoliberal is a Conservative

With a new coat of paint.

[SamKnause]

6. Neoliberal:

Noun

1. an outgrowth of the U.S. Liberal movement, beginning in the late 1960's,

that modified somewhat its traditional endorsement of all trade unions and

opposition to big business and military buildup.

Noun

Neoliberalism:

2. a modern politico-economic theory favoring free trade,

privatization, minimal government intervention in business,

reduced public expenditure on social services etc.

I refer to them as sellouts and closet Republicans.

[Avalux]

20. Don't forget war.

They are all for bombing and invading other countries too. Just like a Neocon.

[jwirr]

22. New Democrats.

[Odin2005]

7. According to Wikipedia Neoliberalism basically means Reaganism/Thatcherism

Neoliberalism is a term whose usage and definition have changed over time. Since the 1980s, the term has been used by scholars in a wide variety of social sciences and critics primarily in reference to the resurgence of 19th century ideas associated with laissez-faire economic liberalism. Beginning in the 1970s and 1980s, its advocates supported extensive economic liberalization policies such as privatization, fiscal austerity, deregulation, free trade, and reductions in government spending in order to enhance the role of the private sector in the economy. Neoliberalism is famously associated with the economic policies introduced by Margaret Thatcher in the United Kingdom and Ronald Reagan in the United States. The transition of consensus towards neoliberal policies and the acceptance of neoliberal economic theories in the 1970s are seen by some academics as the root of financialization, with the financial crisis of 2007–08 one of the ultimate results.

"Liberal" here is meant in the original, European sense.

[malaise]

10. influenced by Friedman and the Chicago schoolas well as Hayek

The experiment was Chile after they assassinated Allende.

[Odin2005]

19. I've always been conflicted by Hayek.

I think he was a well-meaning man who was rightly skeptical of some of the popular ham-fisted approaches to economic planning that were popular in the mid 20th century. At the same time I think he was too quick to completely dismiss Socialism, especially with how powerful computers are now. I remember reading somewhere that in the 70s and early 80s economists in the USSR did a fair amount of work in using computers to help state economic planning work better and more efficiently but that computers at the time just were not powerful enough to do complex enough market simulations.

Friedman, on the other hand, was very mich an asshole POS.

[malaise]

21. No conflict here

A detestable pro-elite scumbag - hidden in it all was the Road to Our Serfdom - Thatcher adored him.

[warrprayer]

14. Checking in

Many thanks to you and everyone else who offered explanations and comments.
From what I am reading, neoliberalism is not a desireable trait in a Democrat.

[JHB]

9. Its roots are in economic jargon...

The "liberal" part is the "liberalization of markets", i.e., removing constraints and barriers.

The original idea was that if the world were more interconnected economically, with fewer nationalistic choke-points on resources, big wars would be less likely to happen. Theoretically, it was a "build everyone up" strategy.

Whatever the merits of that view, the idea was quickly appropriated by those who wanted to lower taxes, eliminate regulations, remove labor protections, and generally get rid of impediments to maximizing profits. It may have started as a "build everyone up" idea, but it's become a race for the bottom.

It has nothing to do with social views, and in fact depends on divorcing social views (especially those that might result in limitations on markets) from economic policy.

[pampango]

13. Good history and description of the original use of 'liberal' in economics.

The "liberal" part is the "liberalization of markets", i.e., removing constraints and barriers.

The original idea was that if the world were more interconnected economically, with fewer nationalistic choke-points on resources, big wars would be less likely to happen. Theoretically, it was a "build everyone up" strategy.

Whatever the merits of that view, the idea was quickly appropriated by those who wanted to lower taxes, eliminate regulations, remove labor protections, and generally get rid of impediments to maximizing profits. It may have started as a "build everyone up" idea, but it's become a race for the bottom.

The 'original idea' was undoubtedly what FDR had in mind. His plans to 'liberalize' markets after WWII were based on a desire to deemphasize nationalism and increase multilateral governance of global issues like diplomacy, trade, finance, banking, etc.

Perhaps his support for 'internationalism' came largely from the failures of the republicans who preceded him who were isolationists and corporatists who were big on constraints and barriers to trade to benefit corporations and the rich. FDR perceived that their isolationism, protectionism (both based on nationalism) and corporatism (regressive taxes, weak unions, deregulation) were to blame for the Great Depression and the lead up to WWII.

[raouldukelives]

12. A kinder and gentler death penalty. nt

[LWolf]

15. It refers to

economic liberalism: little to no regulation of the 1%. The "fat cats" of the earlier "progressive era."



Your understanding is common, as neo-liberals often proclaim themselves to be "fiscally conservative, socially liberal." That's incorrect. They are economically liberal, and they use social liberalism to maintain support while they attack and erode economic regulations and labor unions.

That's my explanation.

Here are some others:

http://www.corpwatch.org/article.php?id=376

http://www.investopedia.com/terms/n/neoliberalism.asp

http://www.globalissues.org/article/39/a-primer-on-neoliberalism

[Wounded Bear]

16. Kind of how I see it...

They use the "liberal" part of the label to falsely attract progressives who think, well it says 'liberal' so it must be OK.

Kind of like the Germans who bought the Social/Workers crap in the NAZI label (National Socialist Workers Party). In fact, one of the first things Hitler did was eliminate the unions.

[LWolf]

17. Yes. nt

[warrprayer]

18. Thanks

I kind of had a feeling it was a misleading term.

[Dont call me Shirley]

23. A neo-liberal is the European version of America's neo-conservative.