A Brief Examination of Neoliberalism and Its Consequences in sociology

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8 Responses

  1. This is a great article covering a huge terrain in a short space. I will add a few points. The neoliberal ideology is based on neoclassical economics and game theory both lack scientific foundations. See http://williampaulbell.wordpress.com/2009/08/29/the-g8-protests-and-the-logically-inconsistent-foundations-of-neoclassical-economics/ and http://williampaulbell.wordpress.com/2012/09/17/progressing-from-game-theory-to-agent-based-modelling-to-simulate-social-emergence/. The US being at the forefront to promulgate the neoliberal ideology has suffered a decline in numerous quality of life indicators relative to most OECD countries (except for the top 1% of course), see Decline of the US by Edward Fullbrook http://www.paecon.net/RWEBooks/USA/USA1.pdf. A sample preview of his work can be found at http://rwer.wordpress.com/2012/08/29/for-share-of-income-received-by-richest-10-the-usa-ranks-26th-out-of-28/.
    One of the dynamics keeping the neoliberal ideology in place are the economics department around the world, more and more staffed by US PhD graduates. These economics departments are at the forefront of perpetuating the no-libertarian ideology and keeping alive ideas that have been proven incorrect. See Zombie economics by Professor Quggin http://press.princeton.edu/titles/9270.html. The World Economics Association (http://www.worldeconomicsassociation.org/) fills a huge gap in the international community of economists — the absence of a professional organization which is truly international and pluralist. Joining this organisation can help resort some balance in the intellectual discourse. A detailed criticism of both neoclassical economics and game theory can be found at (http://econpapers.repec.org/paper/pramprapa/38260.htm). This criticism also introduces one alternative approach to in modelling in economics.

    • Candace Smith says:

      Thank you for you comments. I’m working on a paper related to the relationship between neoliberalism and interpersonal violence, so I really appreciate your feedback.

      • Unfortunately, neoliberalism has many maladies. The following is a documentary you might like to view on the link between paranoia and neoliberalism.

        “The Trap: What Happened to Our Dream of Freedom”

        The video is on YouTube.

  2. Robinson says:

    @ Candace Smith, Excellent articles.

    William Paul Bell well thought out comments and beneficial links on both articles.

  3. Martin says:

    Candace, thank you for this excellent article.

    I am particularly interested in how the neo-liberal ideology has distorted how we view nature.

    Newspeak, George Orwell’s imaginary language, made it easy to express the world-view of the ruling elite, but difficult to express rival world-views. In a similar way, today’s political, economic and scientific elites have adopted a language that makes it easy to express the world-view of neo-liberal economics, but difficult to express any other way of seeing the world.

    With that language comes sets of concepts. When dealing with the conservation of nature these concepts include such inventions as: biodiversity credits, offsets and values; bio-, habitat-, mitigation- and wetland-banking; conservation marketing; ecosystem services; financial incentives; green growth and green infrastructure; natural capital and resources; nature-based solutions; no net loss and non-monetary benefits. Buried beneath that un-natural heap of neo-liberal Newspeak is nature itself.

  4. Musa Gbla says:

    Neo libralism has been a concept that delved into free trade and market systems in the global perspective,which has been imbibed by entrepreneurs inorder to have competitive advantage over their competitors.

  1. 24th November 2012

    […] economics provide pseudo scientific credibility for the neoliberal ideology.  The article A Brief Examination of Neoliberalism and Its Consequences provides a wider context to the adoption of these ill founded theories and the consequence for […]

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