Dollars and Sense has been around since the 1970s. Always a source of well researched critiques of capitalism. I recently, after a more than 30 year hiatus, re-upped a subscription
Dear Dollars & Sense,
Your new issue showed up the other day with the word “neoliberalism” in bold type on the cover. The continuing use of this term is not helpful. When I first saw this word a few years ago I wondered how the word “liberal” and “neoliberal” are connected? Then, I remembered the little I can recall about 19th century European political philosophy. Oh, its that liberalism that is new!
Really, outside of academic circles no one knows what this word means. Most in my circle find it off-putting, obscure and boring.
Free Market Religion
I prefer to refer to this ideology as “free market religion”. “Free market” is a widely used term as in “free market capitalism”. And “religion” gets across the fact that this is a counter-factual pile of BS.
If you don’t like my term, come up with something better. Please stop using “neoliberalism”.
President Reagan was not the originator of this central trope of free-market (neo-liberal) politics, but he famously said in his first Inaugural Address in 1981, “Government is not the solution to our problem; government is the problem.” President Clinton, a Democrat, continued this theme during his terms culminating the the deregulation of the financial industry in 1999 setting the table for the collapse of 2008 and the Long Recession. Listening to almost any discussion by Republicans and Democrats you can find this theme, “If just get government out of the way, free markets will solve our problems.”
This ideology is ahistorical, counter-factual nonsense. It is asserted without any basis in fact. It is rhetorical cover for policies that have led to the vast enrichment of the wealthy and corporations and the impoverishment of everything public. Continue reading →
“There” is our current situation in which our government has been bought by the rich and corporations, over 80% of the population has not had a pay raise in 40 years and the public sphere, schools, parks, our infrastructure, really anything not behind the gated walls of private wealth, is being starved in the name of free market ideology. The American promise that hard work, pluck and a bit of luck can bring success to anyone, regardless of their rank at birth, is an empty myth. If you are born poor you will die poor. Even if you are middle-class, there is a significant chance that you will sink and at any rate you will always struggle just to keep that middle-class status.
The rich and corporations have waged a 40 year class war. At this point they have won all of the battles and continue to take home the spoils. Continue reading →
The values of capitalism, especially as expressed through free market (neoliberal) ideology, have come to dominate how we organize our lives. Silicon Valley and the tech sector is busy celebrating the “gig” economy. Companies have simply stopped hiring employees and now conduct much of their work using “temps”, “1099ers”, part-time contract workers. The companies, and the champions of free markets, tout this as a wonder of flexibility and opportunity. For gigers not being recognized as an employee means that they lose out on all sorts of direct and indirect benefits long part of the contract between employers and employees: minimum wages, overtime benefits, health insurance, workers compensation for those hurt on the job, unemployment benefits for those who are laid off, proof of employment for those trying to rent or get a loan, and, perhaps most significantly, lower taxes (workers who are “independent contractors” have to pay the employer’s share of payroll taxes, thats an additional 7.7%). Part-time employees have no regular schedule, in many cases no regular place of work, no regular contact with other employees, or even a job at all. They are the ultimate commodity, entirely replaceable with very few contingent liabilities for companies.
American higher education long ago became an essential part of the corporate state and therefore focus for application of free market ideology.1 As the accompanying chart shows, in 1975 the contingent faculty (full-time non-tenure, part-time and graduate assistants) made up 55% of the academic workforce. Continue reading →
By corporate state I mean the current situation in which our government, rhetorically democratic, is really the captured entity of the rich and corporations. [↩]
As the presidential campaign of 2016 fades away and the Trump Era begins, we find a national scene without any real discussion of the facts of jobs and unemployment and what the future might bring. Trump and others talk about bringing manufacturing back to the US. No plan, plausible or otherwise, has ever been mentioned for how to accomplish this. The Democrat are hardly better. Much has been made and continues to be made of the role various trade agreements have had in the loss of manufacturing jobs. Even Bernie Sanders can do no better than talking about creating millions of good paying jobs through a national infrastructure program. It is laudable to fix the infrastructure that has become third world, but that is not a long-term jobs strategy.
There are structural changes in the capitalist economy that must be understood and accepted as fact. Lets begin with a few examples. US steel production, one of those lost American industries, is now as high as it was at the beginning of the 1960s. Continue reading →
The Trump election debacle demonstrates the bankruptcy of the current leadership of the Democratic Party. Faced with a foe who has engaged in serial bankruptcy as a business strategy, is a notorious know-nothing bully with a very sensitive ego, and is best known as the red-faced guy on reality TV who says “You’re fired”, they could not come up with a candidate and story to retain their core voters in the old rust-belt states. Continue reading →
The election of Trump and the continued Republican control of both Congress and Senate guarantee that the rich will continue to get richer at the expense of the shrinking middle class and further aggravate conditions for the poor. Trickle down economics and tax subsidies will flow for the rich and corporations. The financial sector will buy its way out of the weak regulations of Dodd/Frank and lurch towards new adventures in gambling; a financial disaster will once again require the socialization of their risk at taxpayer expense. Continue reading →
For some time I have been thinking, writing, and gathering information, not necessarily in any good order, about our situation here in the US. For more than a decade I have thought that we are in a protracted crisis.
This crisis can be felt at the personal, family, local and national level in all areas of life. Some of the sources are systemic to technological change and the global dynamics of capitalism. Some find their roots in fundamental failures in humans – racism, sexism, religion, etc. Some flow from our political system, some from our economy.
The focus of this work has been to try to identify what this crisis is about within the US context, to describe it, without any real notion of even suggesting solutions.
Where Did This List Come From and Is There an Order?
I first started this list two or three years ago while we were still in the deepest part of the Great Recession. Most of the early entries related to the political system and economic inequality. As I have returned to it I have broadened the coverage of social and political topics. Most recently I have added ones that relate to the mythology underlying our approaches to life in the US.
Here is my current list of topics:
Underperforming, expensive healthcare system
Political system controlled by big money, private and corporate
Distorted role of corporations
Quasi-religious faith in “free market” capitalism
Race, sex, ethnicity, klans….
Myth of social mobility
National and State Political Systems Designed to Be Anti-democratic and Dysfunctional
30+ year stagnation of income
Disappearance of living wage jobs
The rich are at their feeding troughs
Expensive, underperforming K-12 educational system
Expensive, underperforming higher ed system
Web access and infrastructure
Homelessness and poverty
Bloated, dysfunctional global military and empire
Our longest war – the war on drugs
Criminal justice system – aka the judicial-incarceration gulag
Persistent income disparities
Super rich vs. everyone else
Intrusion by organized religion into government and politics
Energy policy focused on consumption instead of efficiency