Economic Resources
Economic Policy
The Rise and Fall of Neoliberalism, Louis Menand
The free market used to be touted as the cure for all our problems; now it’s taken to be the cause of them.
Most types of neoliberalism reduce to the term “markets.” Get the planners and the policymakers out of the way and let the markets find solutions.
Zoning Out, Daniel Immerwahr.
Capitalism no longer dreams of a unified world. Instead, market radicals have shattered the globe into thousands of zones, enclaves, and special jurisdictions. And they’ve left the rest of us to live among the shards.
The Life of the Party, Osita Nwanevu.
In general, nothing about empowering the state to make critical investments necessarily implies empowering the workers manning those projects or labor at large. Taking this critique seriously could produce yet another moral capitalism, in a guise and policy combination not yet tried. But one can also see in it the seeds of a radical turn, perhaps toward what we might call economic democracy. [read more]
Is the Marriage Between Democracy and Capitalism on the Rocks?, Wade Lee Hudson
Never easy, the relationship between the vaunted political system and economic order appears to be in crisis. New books by historians and economists sound the alarm.
By Jennifer Szalai:
The documentary series “Free to Choose,” which aired on public television in 1980 and was hosted by the libertarian economist Milton Friedman, makes for surreal watching nowadays. Even if Ronald Reagan would go on to win the presidential election later that year, it was still a time when capitalism’s most enthusiastic supporters evidently felt the need to win the public over to a vision of free markets and minimal government. Today’s billionaire donors may be able to funnel money to their favored candidates without even bothering to pay lip service to American democracy, but the corporate funders of “Free to Choose” set out to make their case.
They had an enormous audience: The 15 million viewers who watched the first episode saw an avuncular Friedman (diminutive and smiling), leaning casually against a chair in a Chinatown sweatshop (noisy and crowded), surrounded by women pushing fabric through clattering sewing machines. “They are like my mother,” Friedman said, gesturing at the Asian women in the room. She had worked in a factory too, after immigrating as a 14-year-old from Austria-Hungary in the late 19th century. Friedman explained that these low-wage garment workers weren’t being exploited; they were gaining a foothold in the American land of plenty. The camera then cut to a tray of juicy steaks. [read more]
A progressive walk on the supply side, Ezra Klein.
“[. . .] I don't think these various policies have cohered into a policy faction, a way progressives think of themselves, at least not yet. But I'd like to see that happen. Political movements consider solutions where they know to look for problems. Progressives have long known to look for problems on the demand side of the economy — to ask whether there are goods and services people need that they cannot afford. That will make today fairer, but to ensure tomorrow is radically better, we need to look for the choke points in the future we imagine, the places where the economy can't or won't supply the things we need. And then we need to fix them.” [read more]Is Capitalism a Threat to Democracy? Caleb Crain.
The Last Battle Over Big Business, Nicholas Lemann.
Ralph Nader, General Motors, and what we get wrong about regulation. “Ralph Nader’s larger cause is usually described as “consumerism,” a movement focussed on the welfare of someone who buys a consumer product... Indeed, the intensity of Nader’s critique of almost all politicians and government activities created some overlap between consumerism and the resurgent free-market conservatism of the nineteen-seventies; Nader and Milton Friedman both joined in the crusade against airline regulation, with organized labor and the airlines themselves on the other side. [. . .]