How Inequality Kills

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The Global March of Neoliberalism: The World Inequality Report 2018

Contrary to the assumptions of left-liberal commentators, neoliberalism is not merely a bad policy adopted by “greedy” elites. It is in fact a fundamental systemic rejection of the post-laissez-faire settlement put in place in just about all of the developed capitalist countries after the Second World War. Out with the legacy of the New Deal and the Great Society and forward with what is essentially a resurrection of 1920s capitalism. Because capitalism is a globally integrated system, if neoliberalism exists on a significant scale anywhere, it must exist everywhere. It is thus a “New World Order,” a phrase deployed by G. H. W. Bush and Adolf Hitler.

Neoliberalism is an eminently rational arrangement for the capitalists and their political cronies who instituted it. The system is called capitalism, not laborism, because it was forged for centuries and is presided over by those whose overarching objective is to maintain a settlement that serves the interests of owners of capital. Adam Smith’s tome is called The Wealth of Nations, not The Income of Nations or The Wages of Nations. The bottom-line priority of those who own society’s most valuable asset, its means of production, is that society be organized around the continuous increase of wealth, especially the wealth and income of its wealthiest. The welfare state foils that project. The evidence is…

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