Where neoliberal rules have been observed since the ’70s, economic performance has generally deteriorated and social democratic programs have substan… - Noam Chomsky

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Where neoliberal rules have been observed since the ’70s, economic performance has generally deteriorated and social democratic programs have substantially weakened. In the United States, which partially accepted these rules, real wages for the majority have largely stagnated for 30 years, instead of tracking productivity growth as before, while work hours have increased, now well beyond those of Europe. Benefits, which always lagged, have declined further. Social indicators—general measures of the health of the society—also tracked growth until the mid-’70s, when they began to decline, falling to the 1960 level by the end of the millennium.