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The neoliberal version of capitalism has been in force since Reagan and Margaret Thatcher, beginning shortly before. There should be no need to detail its grim consequences. Reagan's generosity to the super-rich is of direct relevance today as another bailout is in progress. Reagan quickly lifted the ban ons and other devices to shift the tax burden to the public, and also authorized stock buybacks — a device to inflates and enrich corporate management and the very wealthy while undermining the of the enterprise. (en) |
