Spodaj je napoved odličnega komentarja Paole Subacchi v Project Syndicate o vzponu in padcu neoliberalizma, ki ga je orkestrirala Margaret Thatcher (vzporedno z Ronaldom Reaganom onstran luže). Na žalost ga nisem poznal, ko sem pred tedni pisal svoj komentar o ekonomski dediščini železne lady. Imava pa zelo podobne poudarke. Priporočam branje.
When Margaret Thatcher became Prime Minister of the United Kingdom 40 years ago, she brought to an end the Keynesian consensus that had helped guide economic policymaking since the end of World War II. Markets, she said, knew best.
Decades of financial instability, widening inequality, and ultimately, political discontent have proven otherwise.
With technological change accelerating alongside larger shifts in the global economic order, there is a growing demand for more active income, labor-market, and industrial policies. But Thatcherism is still very much with us.
The persistence of neoliberalism was clear during Europe’s sovereign debt crisis, when German Chancellor Angela Merkel and her Christian Democratic Union insisted on a ruthlessly orthodox austerity program for Greece. Germany feared that bailing out a fiscally irresponsible EU member state would create an unacceptable precedent. But its policy prescription resulted in economic disaster and misery for Greece, and long-lasting resentment toward Germany (and the EU), particularly among southern EU countries.
Unlike the economic crises of the 1970s, the 2008 crash did not lead to a radical rethinking of the political economy. What followed was denial of the need for new distributional policies and forms of economic management. The result of this complacency became clear in 2016, with the Brexit referendum in the UK and President Donald Trump’s election in the US. As should have been foreseeable, divided and neglected communities are time bombs that can eventually bring down fragile institutions, and even entire political systems.
There is a tradeoff between maintaining open-market economies and ensuring political stability. Often, measures to redistribute resources and support domestic economies are both necessary and appropriate. The impulse to pretend that this trade-off doesn’t exist, and that markets are self-regulating, is one of the enduring legacies of Thatcherism. It is also the height of intellectual laziness.
Ensuring that a democratic citizenry remains committed to liberal values requires that economic and political transitions be managed by states and public institutions. It turns out there is such a thing as society after all.
Vir: Paola Subacchi, Project Syndicate