For left-leaning economists such as David Harvey, the term “neoliberalism” perfectly sums up the mix of laissez-faire economics, centrist politics and market supremacy that has held sway in the west for 40 years. While in 2016, the IMF said neoliberalism could be of enormous benefit where it conferred “financial openness”, but acknowledged some of its elements were overplayed and potential causes of instability. It never appeared in the FT’s old Lexicon and other commentators, including our very own Martin Wolf, continue to doubt its usefulness. Read More...
For left-leaning economists such as David Harvey, the term “neoliberalism” perfectly sums up the mix of laissez-faire economics, centrist politics and market supremacy that has held sway in the west for 40 years. While in 2016, the IMF said neoliberalism could be of enormous benefit where it conferred “financial openness”, but acknowledged some of its elements were overplayed and potential causes of instability. It never appeared in the FT’s old Lexicon and other commentators, including our very own Martin Wolf, continue to doubt its usefulness.
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