Neoliberalism

The ideology at the root of all

our problem
 Overview
• Definition of neoliberalism

• Critical analysis

• History of neoliberalism

• Neoliberalism in the UK context

 Critical analysis of neoliberalism

• financial meltdown of 2007/08

• offshoring of wealth and power

• slow collapse of public health

and education

• resurgence of child poverty

• epidemic of loneliness

• collapse of ecosystem
From the view of neoliberalism:

• Competition is a main characteristic of

human relation
• Limitation of competition =
harmful to liberty
• Citizens = consumers
• People’s democratic choices = buying
and selling
• Tax and regulation should be
minimised
• Public services should be privatised
 “Whoever oppresses the poor to increase
his own wealth, or gives to the rich, will
only come to poverty”
Proverbs 22:8-16

• Market ensures that everyone gets what they deserve

• Inequality is recast as virtuous
• The rich merited their wealth ↔The poor blame themselves
• Structural unemployment – impossible costs of housing
• In a world governed by competition: who fall behind = losers
• See: The Crown: Fagan
History of neoliberalism
 • supported financially by
millionaires

• create a transatlantic
network of academics,
businessmen, journalists
and activists

• with their help they started

to promote neoliberal
ideology
Consequences of Thatcherism
• Freedom from trade unions means the freedom to suppress wages

• Freedom from regulation means the freedom to poison rivers, and

endanger workers

• Freedom from tax means freedom from the distribution of wealth that
lift people out of poverty

• the UK’s privatised or semi-privatised services invest little and charge

much

• As the domain of the state is reduced, our ability to change our lives
through voting is shorten  Democracy = Theatre
All that leads to
higher spending.
And that means
more taxes,
more borrowing,
higher interest
rates,
more inflation,
more
unemployment
He describes capitalist realism

How neoliberalism creates a culture

in which it as a system can continue
to exist, like a legitimising
undercurrent, more invisible than
the direct policies of neoliberal
politicians.
 Sources
• Monbiot, G. (2016). Neoliberalism – the ideology at the root of all our problems. The Guardian.
https://www.theguardian.com/books/2016/apr/15/neoliberalism-ideology-problem-george-monbiot

• Deptford, L. (2020). Is There An Alternative? Young Labour.

https://lewdeptyl.medium.com/is-there-an-alternative-bed937b2863d

• Liberto, D. (2022). The Iron Lady's policies left a lasting mark on the global economy [Photograph].

• Rasure, E. (2022). Who was Ludwig von Mises? [Photograph].

• Kenton, W. (2022). Friedrich Hayek [Photograph].

• Eaton, A. (2021). Neoliberalism vs. Classical Liberalism And why so many people vote against their own
interests. [Photograph].

• Fisher, M. (2020). Kapitalista realizmus. Napvilág Kiadó.

• (2016). The Crown: Fagan [Film].

• (1983). TV Interview for London Weekend Television Weekend World ("Victorian Values"). Margaret
Thatcher Foundation. https://www.margaretthatcher.org/document/105087