Today the dominant narrative is that of market fundamentalism, widely known in Europe as neoliberalism. The story it tells is that the market can resolve almost all social, economic and political problems. The less the state regulates and taxes us, the better off we will be. Public services should be privatised, public spending should be cut, and business should be freed from social control. ... Verhaeghe points out that neoliberalism draws on the ancient Greek idea that our ethics are innate (and governed by a state of nature it calls the market) and on the Christian idea that humankind is inherently selfish and acquisitive. Rather than seeking to suppress these characteristics, neoliberalism celebrates them: it claims that unrestricted competition, driven by self-interest, leads to innovation and economic growth, enhancing the welfare of all. At the heart of this story is the notion of merit. Untrammelled competition rewards people who have talent, work hard, and innovate. It breaks down hierarchies and creates a world of opportunity and mobility. The reality is rather different. Even at the beginning of the process, when markets are first deregulated, we do not start with equal opportunities. ... Even when outcomes are based on talent and hard work, they don’t stay that way for long. Once the first generation of liberated entrepreneurs has made its money, the initial meritocracy is replaced by a new elite, which insulates its children from competition by inheritance and the best education money can buy. Where market fundamentalism has been most fiercely applied – in countries like the US and UK – social mobility has greatly declined. ... All this is ignored, and success or failure in the market economy are ascribed solely to the efforts of the individual. The rich are the new righteous; the poor are the new deviants, who have failed both economically and morally and are now classified as social parasites. theguardian/commentisfree/2014/aug/05/neoliberalism-mental-health-rich-poverty-economy
Posted on: Sun, 12 Oct 2014 07:52:50 +0000
Trending Topics
Recently Viewed Topics
© 2015