Tag Archives: Neoliberalism

Politician Raises Taxes, Voters Happy

[Probably last post until Sept – see previous post.  The tax-cutting mania may have started in California, so it’s fitting if CA shows the way back.  It was always nonsense.  The real reason is to shrink government.  Governments get in the way of rich people making money, because a few of the things they do are good for the rest of us.  Well, used to be good for the rest of us.  So Jerry Brown may be among the most subversive people on the planet at the moment, because he’s showing government isn’t all bad.  It can do good stuff.  Of course the lesson will probably be lost on Oz for another decade, it usually takes about that long.]

 

There’s a case to be made that Jerry Brown is the most successful high-profile Democrat in America today. And there is simply no debating that, after four decades in the national limelight, he stands out as an intellectually dynamic and politically untethered leader in a time of gridlock, frustration and dysfunction.

Continue reading

Sydney Book Launch, Gleebooks, 4 May

Sack the Economists will be launched by Professor Steve Keen, author of Debunking Economics and winner of the Revere Award for his clear warnings of the approaching Global Financial Crisis.

RSVP Gleebooks  or phone 02 9660 2333
Sunday, 4th May 2014, 3:30 for 4 pm, Gleebooks, 49 Glebe Point Road, Glebe NSW.

The flier below can be downloaded here: LaunchAd&CoverGlee (pdf 300k), or as jpg from the image.  Please feel free to distribute it.

Continue reading

Australia needs a new progressive party

[This article is posted at Independent Australia today.]

The Australian Labor Party needs major reform, even leader Bill Shorten thinks so.  But what constitutes “major” reform depends on who’s talking.  To Shorten it reportedly means you don’t have to be a union member to join Labor, and perhaps unions and factions will have a little less say in preselections.

A few weeks ago I suggested Labor ought to disavow the market-fundamentalist neoliberalism that has dominated Labor and most of the world for the past three decades, because neoliberalism has been the major cause of rising economic and political inequality, and it directly caused the Great Recession that still grips much of the world.  Not only does neoliberalism undermine Labor’s founding purpose, to stand up for ordinary people, but it is a baseless and discredited ideology, as I have explained in my book Sack the Economists, and it has brought the return of plutocracy and the new gilded age, as exhaustively documented by French economist Thomas Piketty.

Although I advocated reform of the ALP, I hold little hope it will happen.  Even where they are not overtly corrupt, Labor and too many unions are dominated by careerists whose only goal seems to be to acquire power for power’s sake.  Shorten’s incremental changes will not break the power of these people.  Indeed there seem to be few left in Labor who have not accommodated to the betrayal of Labor’s purpose.  (I hasten to add I am a supporter of unions in principle, but too many of them have also become ossified.)

Left to its own devices, the ALP is unlikely to fundamentally reform itself.  It would take someone at least of the stature of Gough Whitlam, and no such reformer is in evidence.  Therefore a different strategy is required.

Continue reading

Countering neoliberalism: A new life for Labor?

[A variation of The Lost Left, published today at Independent Australia.]

The way forward for progressives is to argue against the self-serving neoliberal ideology of the fatcat and for prudent and sensible management of the markets, writes Dr Geoff Davies.

Opposition leader Bill Shorten saysLabor needs new policies.

He’s not wrong there.

For three decades, while Labor has focussed on being merely a slightly paler imitation of the Coalition, its membership has plummeted, inequality has risen, it has repeatedly capitulated to wealthy bullies and, it seems, there is no policy too degrading for it to adopt as it races the Coalition into the depths of fear and negativity.

read more

The Lost Left and the Way Forward

[This piece was prompted by Has the Left Surrendered? by Richard Eskow on Campaign for America’s Future, a good source of sensible US commentary.  His article was in turn prompted by Nothing Left: The Long, Slow Surrender of American Liberals by Adolph Reed Jr in Harper’s magazine. ]

trickle-downThe political parties of the Left, in the US, UK and Australia, lost their way when they swallowed the free-market mantra.  They became merely neoliberalism-lite.  They implemented the market-fundamentalist program, and then applied bandaids to the wounds thus inflicted.  They yielded the initiative, became defensive and reactive, and were steadily pushed, dragged and wedged ever-further to the right.  They are now well to the right of the conservative parties of four or five decades ago.  The former-left parties are now a huge impediment to real progressive politics, entrenched in that political space but betraying it on a daily basis.

Despite continuing soul-searching among those who recognised and deplored this process, there has yet to emerge any unifying alternative, beyond a catalogue of the many disparate social and environmental causes and groups that attempt to continue, with diminishing success, the old Left’s concern for ordinary people and their world.  Indeed no alternative can emerge unless and until the core meme of neoliberalism is confronted.

Continue reading

Sack the Economists now available in hard copy

SackCoverPrint-on-demand hardcopies of Sack the Economists can now be ordered from CreateSpace and Amazon.com.

More sources of both ebook and hardcopy versions will be added soon, including the UK and Australia.

Also the ebook will be available in formats other than Kindle – so any reader will work.

Go to Sack the Economists for more information and all purchase options.

StE gets big plug in Australian Fairfax press

An article by Bob Douglas on the dire need for real political leadership prominently features Sack the Economists, along with a new book by prominent Australian economist Ross Garnaut, Dog Days: Australia After the Boom, the latter launched by prominent Liberal politician Malcolm Turnbull.  Tony Abbot deposed Turnbull as Leader of the Opposition in 2009, winning by one vote, otherwise Turnbull would probably now be Prime Minister.

See Bob Douglas’ article in the Sydney Morning Herald here.  It also appears in the Melbourne Age and the Canberra Times.

“Sack the Economists” on RWER blog

An article on the Real World Economics Review blog:

Non-mainstream economists are all-too aware of the failure of mainstream economists to anticipate, let alone avoid, the Global Financial Crisis and the ensuing Great Recession.  The mainstream profession is also failing to fix the problem, and is actually making it worse.

It is hard to get alternative views heard, and the mainstream carries on almost totally unperturbed, despite being centrally responsible for a global disaster.  This is of course extremely frustrating.

After reading yet another cri de coeur from yet another frustrated economist, I thought perhaps we need to spell out the message in all bluntness

continue reading

Sack the Economists? On Steve Keen’s Debtwatch

Steve Keen has posted a guest post on his popular Debtwatch website.

Read­ers of this blog will have encoun­tered the idea that near-equilibrium neo­clas­si­cal eco­nomic the­ory is irrel­e­vant to dynamic, far-from-equilibrium, real mod­ern economies, and that the body of the­ory built around the neo­clas­si­cal assump­tions is full of incon­sis­ten­cies.  You will also be famil­iar with the idea that money and debt play cen­tral, dynamic roles in mod­ern economies.

Yet it can be argued there are other equally fun­da­men­tal flaws in the broader stream of the­ory and prac­tice that might be called main­stream eco­nom­ics.

– See more at: http://www.debtdeflation.com/blogs/2013/12/07/sack-the-economists/#sthash.oWYTzwRS.dpuf

Sack the Economists now available

SackCoverMy ebook Sack the Economists and Disband their Departments is now available.

Mainstream economists completely failed to anticipate the financial market crash of 2007-8.  They then called it an unforeseeable event.  This is a clear admission that they don’t understand how economies work.  Yet many non-mainstream, marginalised economists gave clear warning of the approaching crash.  This book shows how mainstream economics has not one but many fundamental flaws.  It is not a science, it is pseudo-science.  It lacks scholarly rigour and integrity.  Once you understand this, it is not a mystery why the mainstreamers missed the approaching crash, nor why wealth is so unequally distributed, why we are so materialistic and unfulfilled, and why the planet is being destroyed.  But modern knowledge and systems ideas reveal market economies to be self-organising systems, and they can be managed to support dignified livelihoods in equitable societies that can survive into the indefinite future, with nature thriving along with them.

See more at the book’s web site, including how to purchase your copy.

Visit the Facebook page, like it and spread the word.