Neoliberalism Explained: What is Neoliberalism

Neoliberalism explained is a term that has largely been used by the political Left as a derogatory slur to critique capitalism. Initially, it seems, Neoliberalism was an idea and project to transition toward a free market economy based off classical liberal economics. The problem is, however, the name Neoliberalism has been thrown around by the critiques to largely describe today's dominant economic system.

This is no surprise given the fact people claim we live under capitalism and somehow think we're living under a capitalist system. There have been countless myths thrown around by the Left such as the claim that deregulation caused the banking crisis or that capitalism was responsible for the boom and bust cycle of the 19th and 20th centuries and as I have explained, it is in socialists self-interest to label this as capitalism so they can blame our problems today to try and garner support for socialism.

As I've pointed out, politicians often speak a good word like Thatcher had about capitalism and the free market, but that doesn't necessarily mean to say that what people saw was a free market in the 1980s or a transition to such an economy. Thatcher was under pressure from members of her own party and society.

So, as folk may question: 'what is Neoliberalism,' my answer would be, corporatism, otherwise known as cronyism. The reason for this is because it has become widely popular to label the current economy we're living under as Neoliberal as you can hear by the proof of what led to the financial crisis of 2008. Little do folk realise, that was to blame on Keynesianism, which is really just a fancy name for corporatism.

You can hear from a young lassie's mouth that capitalism is in relation to prices being determined by the laws of supply and demand and that is how it goes with everything else from money, to interest rates, etc. That's quite the concession, because if she is aware of that, she must be aware of the fixing of interest rates.

An Introduction: (0:00)
Regulation Argument: (2:51)
The Banking Crisis: (4:52)
Entrepreneurship: (11:49)
Saying and Doing: (14:02)
A Concession: (18:21)

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