New Books in Economics The Future of Neoliberalism: A Conversation with Gary Gerstle
5 snips
May 24, 2022 AI Snips
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Shared Techno-Utopianism
- Newt Gingrich, despite opposing Clinton culturally, shared his techno-utopianism and supported market deregulation.
- Even economists like Joseph Stiglitz admit being swept up in the utopianism of the era.
The Precursor to Neoliberalism
- Social democracy, with its emphasis on managed markets, social welfare, and labor rights, preceded neoliberalism.
- Fear of communism fueled a "grand class compromise" during this period.
Global Shifts and New Economic Ideas
- The rise of Germany and Japan, plus OPEC's newfound power, destabilized the global economy.
- This created space for new economic ideas like monetarism and neoliberalism.