The growing economic power of the richest percentiles translated directly into increased political power, as they gained new influence over elections. In the USA, the collapse of as a result of neoliberal reforms has meant that corporations are able to outcompete labour in campaign financing. Their position was further strengthened in 2010, when the Supreme Court ruled in that corporations have a constitutional right to spend unlimited amounts of money on political advertising as an exercise of 'free speech'.

The Reagan and Thatcher administrations eventually came to power on platforms that promised to enhance individual freedoms by liberating capitalism from the 'shackles' of the state – reducing taxes on the rich, cutting state spending, privatizing utilities, deregulating financial markets, and curbing the power of unions. After Reagan and Thatcher, these policies were carried forward by putatively progressive administrations such as Clinton's in the USA and Blair's in Britain, thus sealing the new economic consensus across party lines.

A contradiction lies at the very centre of the neoliberal project. On a theoretical level, neoliberalism promises to bring about a purer form of democracy, unsullied by the tyranny of the state. Indeed, this claim serves as the model lodestar for neoliberal ideology – a banner under which it justifies radical market . But, in practice, it becomes clear that the opposite is true: that neoliberalism tends to undermine democracy and political freedom. More than 40 years of experimentation with neoliberalism shows that it erodes the power of voters to decide the rules that govern the economic systems they inhabit. It allows for the colonization of political forums by elite interests - a process known as political capture - and sets up new political forums, such as the World Bank, the , and the , that preclude democratic representation from the outset. Neoliberalism also tends to undermine national sovereignty, to the point where parliaments of putatively independent nations no longer have power over their own policy decisions, but are governed instead by foreign banks, the , trade agreements, and undemocratic international institutions, all of which exercise a kind of invisible, remote-control power.

Rather than submitting to plans handed down by central governments in distant capitals, people are using to make decisions about their resources and environments, seeking regeneration and harmony with their surrounding ecology. In the Middle East, communities in the mountains of northern Iraq and in in Syria are experimenting with similar ideas.

In light of this, perhaps we should regard countries like Costa Rica not as underdeveloped, but rather as appropriately developed. We should look at societies where people live long and happy lives at low levels of income and consumption not as backwaters that need to be developed according to Western models, but as exemplars of efficient living – and begin to call on rich countries to cut their excess consumption.

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While global real GDP has nearly tripled since 1980, the number of people living in poverty, below $5 per day, has increased by more than 1.1 billion. Why is this? Because past a certain point, GDP growth begins to produce more negative outcomes than positive ones – more '' than wealth.

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Scientists tell us that up to 140,000 species of plants and animals are disappearing each year due to our of the Earth's ecosystems. This rate of extinction is 100 to 1,000 times faster than before the Industrial Revolution - so fast that scientists have classed this as the event in the planet's history, with the last one having occurred some 66 million years ago.

People commonly think of neoliberalism as an ideology that promotes totally free markets, where the state retreats from the scene and abandons all interventionist policies. But if we step back a bit, it becomes clear that the extention of neoliberalism has entailed powerful new forms of . The creation of a global 'free market' required not only violent coups and dictatorships backed by Western governments, but also the invention of a totalizing global bureaucracy – the World Bank, the IMF, the WTO and bilateral s – with reams of new laws, backed up by the of the United States. In other words, an unprecedented expansion of state power was necessary to force countries around the world to liberalize their markets against their will. As the has known ever since the in 1842, when British gunboats invaded China in order to knock down China's , free trade has never actually been about freedom. On the contrary, as we have seen, free trade has a tendency to gradually undermine national sovereignty and .

If we dig behind the rhetoric, it becomes clear that Western support for right-wing coups had little to do with Cold War ideology, and certainly nothing to do with promoting democracy (quite the opposite!); the goal, rather, was to defend Western economic interests. The veil of the Cold War has obscured this blunt fact from view.

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As it turns out, making rich people richer doesn't make the rest of us richer. Nor does it stimulate economic growth, which is the sole justification of . In fact, quite the opposite is true: since the onset of neoliberalism, the rich countries of the have seen growth rates fall from an average of 3.5 per cent during the 1960s and 1970s down to an average of 2 per cent during the 1980s and 1990s. As the numbers show, neoliberalism has failed as a tool for - but it has worked brilliantly as a tool for restoring power to the wealthy elite.

When the CIA made clear that they would back a coup, General - who was upset with President Sukarno for supporting policies that undermined the military's power - offered to lead it. In 1965, with the aid of weapons and intelligence from the United States, Suharto between 500,000 and 1 million of Sukarno's supporters in one of the worst mass murders of the 20th century. By 1967, Sukarno's base had been either eliminated or intimidated into submission, and Suharto took control of the country. His military regime - which ruled until 1998 - was open to Western corporate interests.

Economists often speculate that the failed to develop because of a lack of capital. But there was no such lack. The wealth that might have provided the capital for development (precious metals in Latin America and surplus labour in Africa) was effectively stolen by Europe and harnessed to the service of Europe's own development. The global South could theoretically have developed as Europe did were it not for the plunder of its resources and labour, and were it not for the fact that it was forced by Europe to supply raw materials while importing manufactured goods. Whether or not they would or should have done so is another matter, of course - after all, much of European-style development required violence towards other lands and other peoples. But the point remains: it is impossible to examine the economic growth of the West without looking at the base on which it drew.

From his base on , the island shared today by Haiti and the Dominican Republic, he forced the local inhabitants – the – to bring him a certain quantity of gold every three months. Those who failed to do so would have their hands chopped off or were hunted down and killed. Men were forced to spend their lives in mines, stripping the mountains in search of gold. Up to a third of workers died every six months. Within two years of the Spanish invasion, some 125,000 people had been killed - half the island's population. Most of the remaining inhabitants of Hispaniola were forced into slave labour on plantations. A few decades later, only a few hundred Arawaks remained alive.