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Neoliberalism as creative destruction

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Andy Shi

on 19 October 2013

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Transcript of Neoliberalism as creative destruction

David Harvey: Neoliberalism as Creative Destruction
David Harvey argues that neo-liberalism is an ideological tool and economic formula used by the upper class to re-dominate lower class. Neo-liberalism is not a successful economic stimulant, but a destructive one. It had destroyed pre-existing organization and institution on a global scale. This is done through the usage of privatization, financialization, crisis management and state redistribution. Moreover, neo-liberalism took great effort and time to be implemented globally. It is detrimental to all aspect of life (i.e. social relation, social security, welfare, attachment to land, and way of thought).
Role of the State
State had active participation in advancing the
neoliberal doctrine. From David Harvey’s perspective, the nation-state is an instrument of the upper class. It was used to extend the interest of the upper class. The state have effective became the will of the transnational corporation. This is both a domestic(new york) and transnational effort. (Reagan and Thatcher's Chillean model)
His first argument is that neo-liberalism is “naturalized” by classical liberal values such as liberty and freedom. i.e. The values of freedom is under threat if government intervenes. Also opened up niche market (promotion of consumerism)
Example : Iraq
Failure of the Previous capitalistic Economy
Neo-liberalism occured as an answer to the failing capitalistic system. Capitalism is a system that survives on perpetuated growth. When growth stoped under social democracy, Capitalism began to crumble. David Harvey used statistic of wealth distribution to illustrate his point.
Pre-war, The top one percent shared 1 percent of the national income, after, they share
8 percent. After 1990 15%
Neoliberalism as Class Redomination
His is third argument is that neo-liberalism had fail to achieve what it claims to do. (Redistribution rather than generative) Instead, it is merely a scheme of destruction to restore class power. (Global Gdp steadily declining) This is done through privatization, financialization, crisis, and state policy. Media obscure facts and encourages social darwinism. (Mexico as a success story)
Summary
Legitimization of the Neoliberal
Doctrine
Discussion questions
1 Given the roles and the impact of the nation-state and TNCs, do you believe that TNCs will one day completely replace nation-states?

2 Examples of globalization and transnationalism can be seen in the increasing number of languages spoken around the world. Has acquiring language (or languages) become rationalized into the culture of capitalism? What are the potential benefits or problems with a selective processes of language acquisition?

3。Do you think Nation state have the ability to resist the globalization effect brought by the neo-liberalism regime? If so, how?
Structual Marxism
Persepective that posits the institutions of the state must function in such a way as to ensure ongoing viability of capitalism more generally. Another way that Marxists put this is that the institutions of the state must function so as to reproduce capitalist society as a whole. Neoliberal state reproduced the capitalistic society with academics.
(the chicago boys)
How did neoliberlism gain support?
Incooperation of Christian right, A insecure white middle class and the republican take over of congress in the 90's lead to a political base that supported their policies against their interest. Neoliberalism is extremely well adapted to utilizing crisis to threaten the public, forcing the public to make deal with the devil.
Chilean Model
In 1970, the democratic elected Marxist leader Allande was overthrown by military coup. The new leader Augusto Pinochet is a Neoliberalist which famously said 'to make Chile not a nation of proletarians, but a nation of proprietors' Lower wage, privatizing
public property, decrease in
welfare and social spending
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