Neoliberalism |
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In broad terms, it denotes a preference for markets over government, economic incentives over cultural norms, and private entrepreneurship over collective action
Financilization is the worst of this. Tim O'reilly says just 15% of the money in the market goes to real economy the rest is just paper exchanges
the need for economic policies to be attuned to the failures to which markets are prone, and to be tailored to the specific circumstances of each country. No single blueprint fits all.
An example is Uber and public transit. While the idea was appealing Uber can not replace public transit.
This worldview reframes social problems in light of for-profit technological solutions. As a result, concerns that belong in the public domain are reimagined as entrepreneurial opportunities in the marketplace.
Markets are modern alternatives to families, villages, and so on.
- The New Deal Order relied on at least one of Big Labor, Big Government, and Big Business to have every individual’s back; neoliberalism rejected these institutions as ossified and sclerotic, and instead promoted markets and individual freedom…
- But neither Big Market Nor Big Do-Your-Own-Thing turned out to have your back, leaving individuals searching for new frameworks of support and justice in a fragmented global economy.