Tag Archives: Neoliberalism

We Need to Move Beyond Free Markets

trickle-downSuddenly our leaders and their lackies are all over the airwaves warning the unwashed hordes of the perils of rejecting the glorious benefits of free markets and free trade, as those ingrates have done in the US and UK.

Their favourite line is “Twenty five years of uninterrupted economic growth.” You hear it almost every day. It represents unparalleled economic success. It is uniquely Australian, because no other country avoided the 2008-9 recession. It’s all because of Australia’s lean, deregulated, open, agile economy, managed brilliantly by [insert current Treasurer].

Except for two little caveats. Australia’s economic performance during the neoliberal era has never matched that in the post-war decades to the early 1970s. And we avoided severe recession in 2008-9 only because the Rudd Government intervened heavily in the economy.

Continue reading

Secret Takeover by Subversive Extremists: a Conspiracy Story

[Also just published at Independent Australia.]

thatcher_tinaBack in the 1960s authorities were very exercised that cells of violent hippie peacenik leftists were plotting to overthrow the Government and establish an anarchist hippie socialist dictatorship (there were no greenies yet). This would inevitably morph into communism, the dreaded embodiment of all evil.

The conspirators were a very small fringe of a very large but not very coherent movement that wanted more love, less war, less consumerism and healthier living. Oh, and some drugs and weird clothes, or no clothes. There was the odd kidnapping and a few small bombs let off, some of them doing more harm to the conspirators than to the Establishment, but the large anti-war movements did not automatically join the revolution and the whole thing fizzled. The hippies got mortgages, Ronald Reagan was elected, and Big Business resumed gobbling up the world.

Continue reading

The Greens: Paddling Hard but Missing the Wave

[Just published at Independent Australia]

article-9388-heroDisaffection with old parties and old politics continues to grow, here and abroad. Unlike the US and the UK, however, progressive politics in Australia is hardly progressing. The Greens are the obvious standard-bearer, but so far they are missing the wave. It matters because the destruction of the informed, fair-go society and the sell-out of our sovereignty continue apace.

In the recent election the Greens pulled only 10% of the 23% of primary votes that went to non-major parties in the House. For the Senate, they got 8.7% of around 35% of non-major primary votes.

Continue reading

Labor’s Twin Crises – Malcolm and Jeremy

[Just published on Independent Australia]

150830sm_CorbynNo doubt the apparatchiks of the Australian Labor Party are currently very exercised with how to counter the Turnbull Coalition Government. It is now possible to conceive that Malcolm Turnbull could comfortably win the next Federal election. Or perhaps the Coalition will tear itself apart and Labor will coast in. In these early days no-one knows.

But the ALP would do well to focus also on a more profound challenge, one that may turn out to be existential. The personification of this challenge is Jeremy Corbyn, who recently won a landslide victory in a ballot of members and supporters for the leadership of the UK Labour Party.

Continue reading

The Flailing, Failing Radical Right

[Published at New Matilda, 31 Aug]

The current disarray of the Abbott Government may mark the end of a decades-long experiment in radical social engineering. The experiment has yielded deepening social divisions, an antiquated, colonial-style economy and little capacity to deal with the dramatic challenges of the near future.

Continue reading

To Parliament With Love (draft)

A down-to-earth guide to a decent and enduring Australia

I have drafted a new book. I would be happy to get feedback. If you would like a copy, email me at geoffd – at – netspeed.com.au . It is available in pdf or epub formats.

You can download an extract (pdf 200 kb)

More information follows, and additional material can be seen at the new book page.

Continue reading

Megalogenis’ apologia for the neoliberal strategy

[The recent TV series by George Megalogenis on how neoliberal market reforms allegedly saved Australia from the Global Financial Crisis caused me to read his 2012 book on the same theme, wondering if any evidence at all might be found for such an unlikely (but widely believed) claim. I have written my response into the book I’m working on, as follows.]

[A version published on Independent Australia 1 May.]

Despite their mediocrity and failure, and their lack of basis in human nature or defensible theory, the rightness of free competitive markets is taken almost completely for granted in mainstream discussion. That was true when neoliberalism was introduced in the 1980s and it remains true today. Back in the 1980s, I would look out for the basis for the praise being heaped on the latest reform. All I ever seemed to find was the circular reference back to free markets, which were self-evidently good. The mantra of the open, competitive economy is repeated a thousand times a day. Such immersion can lead one to doubt one’s reason and common sense, so it may be useful to search for any robust logic in the daily deluge.

Continue reading

Reforming Economics: Pluralism is Not Enough

[This longish essay was just published at Real World Economics Review Blog.  It is addressed to the “heterodox” community, those diverse economists of various schools that are not the dominant neoclassical school, though otherwise it is not particularly technical.]

Much of the current discussion of reforming economics focusses on the need for pluralism, particularly in teaching curricula, and very recently again on RWER.  Pluralist teaching is seen as challenging, because heterodox economic ideas are diverse, have little coherence, and are to a significant extent mutually incompatible.

This theme crops up frequently in discussions on RWER.  Now Cameron Murray, in the first issue of Inside, published by the Institute for Dynamic Economic Analysis, proposes to identify over-arching themes that can bring out the relationships among the various approaches.  This is commendable but it will not, on its own, result in a reformed economics.

Continue reading