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Neoliberalism designates a particular strategy of class domination that uses the state to promote certain competitive dynamics for the benefit of the very rich. In and Lévy's words, "Neoliberalism is a new stage of capitalism that emerged in the wake of the structural crisis of the 1970s. It expresses the strategy of the capitalist classes in alliance with upper management, specifically financial managers, intending to strengthen their hegemony and expand it globally." Less a strategy for production than for the transfer of wealth to the very rich, neoliberalism places the "need of money . . . over those of production." Pursued through policies of privatization,, and, and buttressed by an ideology of private property, free markets, and, neoliberalism has entailed cuts in taxes for the rich and cuts in protections and benefits for workers and the poor, resulting in an exponential increase in inequality. (en) |
