The Way Forward

Neoliberalism doesn't remedy the ills of unbridled capitalism and it never will. What it did accomplish was manifest fertile ground for a demagogue to win, twice.

Our losses:
Obama was elected in 2008, Democratic Party lost a total of 15 state houses chambers, 14 state senate chambers, 960 state legislative seats, 10 governorships, 62 seats in Congress, and 11 seats in the Senate.

How Neoliberalism Failed, and What a Better Society Could Look Like
August 7, 2024

By Joseph Stiglitz

SNIP
Power

Under neoliberalism, what was really going on was not a liberalization agenda, it was a “rewriting-of-the-rules” agenda6—rewriting the rules in ways that advantaged some groups and disadvantaged others. Rewriting the rules is political. It’s about power. The economic model that underlaid neoliberalism was one with perfect markets, with competitive equilibrium in which no one had power, meaning that neoliberalism began with a view that power doesn’t exist. It began with that idea as a presumption, and with that belief allowed concentrated centers of power to flourish. Financial liberalization led to the unfettered growth of the financial sector, which became a major center of power in the American economy.
https://rooseveltinstitute.org/publications/how-neoliberalism-failed/