@@yashpatel261some of us genuinely do. It’s extremely disheartening, though, to bring up some of the issues of today, and be met with selfish indifference or even outright opposition from my fellow Americans only interested in perpetuating their own material conditions (as if they aren’t also exploited, but merely placated by the treats and trinkets of the “first world”) I’m sorry to all international comrades who have to watch America disregard your interests. I hope for humanity’s sake that the multipolar future we’re seeing the beginnings of comes to fruition
That would require them first taking the time to think. I'm Australian but went to college in America. I love the place and love the people but damn there are these threads (or themes) of disconnect that run through American society like cancer. On one hand America has this incredible belief that they can do stuff that I wish Australia had more of. It actually infuriates me when Australian's drop the ball and say its too hard which our political leaders do all the time. On the other hand there's the incredible delusion that because some Americans have done amazing things then that makes all Americans amazing and everything they do amazing. Treating the planet like it has unlimited resources and can be bashed stupid without consequence is delusional. Preaching to the world that you are the bastion of _"Freedom and Democracy"_ as you support psychotic dictatorships and provide safety and refuge to war criminals is even more delusional. Just yesterday I saw people talking about America's child labor issues and how a 16 year old was killed in a timber mill where they should NOT have been working. *How TF can America be going backwards on child labor laws???*
The result of neo-colonialism is that foreign capital is used for the exploitation rather than for the development of the less developed parts of the world. Investment under neo-colonialism increases rather than decreases the gap between the rich and the poor countries of the world. The struggle against neo-colonialism is not aimed at excluding the capital of the developed world from operating in less developed countries. It is aimed at preventing the financial power of the developed countries being used in such a way as to impoverish the less developed
If,,, pollution deemed the token of our esteem was taxed",,, that my mutually "reducing that " What is the bane of say such a blight be sickness, waste,,etc,etc, that's right ad naseumn, ignorance period mutually synomous they be, pollution disease if more familiar aka,,, war disease, not the more familiar Vietnam syndrome 🤔,if, not What if, just if,TAX POLLUTION instead of efforts & works unto idiotic ignorance
You have excellent knowledge regarding the geopolitics history and and you know culture not too many American scientists can explain exactly I have another question how did you like living in Nicaragua yes I'm thinking to relocate and to do some business you know so I can work remotely and I want to send to my global clients medications for animals you know like under 1 lb 1 lb approximately 2 lb you know medications for chicken horses pigeon calls everything else so I have to find out how reliable is the Nicaragua post office to ship to us to Europe this is a stents tracking number and also can I get the easy transfer money from my banking the US to the bank in Nicaragua can I get also early retirement schedule to be deposited to my bank in New caragua I'm Polish American in McLean Virginia but there is no sense leaving in McLean because people are so unfriendly like all over us people are not the same so I want to have a piece of mind and and probably I want to leave in the old part of the capital city of the Nicaragua have a little culture and the place first before buying for one or two years rent for one or two years it's not I will move to Belarus or Russia
@countson6088 I would not say most, but yes a few think like that, many of whom are simply naive and kind natured. They need to come to the West like I have done to understand the West is not all that great, in fact a lot worse than China in many respects. Also as the US/West is going full contain China mode, that will help to wake them up from this bubble.
I don’t think this would be the change that you’re pleased with and I think that the world’s gone insane and you can stay insane if you want to, but it’s crazy. Trump is crazy and his minions are crazy. They’re insane for real.
Another outstanding analysis, as always! Thank you very much Ben for your accurate and precise journalist work: it is very important, now, more than ever!
Great Ben, thanks for bringing that clip of Jake Sullivan's speech to our attention. He must have choked on every word. We got them on the run now. Now is the time to redouble our efforts and give them no chance to catch their breath.
Thank you very much, Ben Norton, this is a really complete and excellent work about neoliberalism. Thank you for pointing at the fact that Chile was the world laboratory for neoliberalism. I’m Chilean, born in 1970. Mi country is still trying to recover from the horrible imperialist abuse imposed to Chile and the region by neoliberalism and transnational corporations power over local democracy.
Dale hermano, gracias al "neoliberalismo" que hoy son un pais de latinoamerica con mayor renta per capita. ¿O acaso quieren ser como nosotros, los argentinos, pobres y miserables por decadas de estatismo anti libre mercado? No seas necio por favor, estos yankis no saben los privilegios que tienen, parece que vos tampoco...
neoliberalism is the fancy safe word for fascism.................you see you cant have anyone calling the USA a fascist state because fascism is something that happens over there not here
Neoliberalism, was, as is, the triumph of the Business Plot against Roosevelt in 1933 that was thwarted by Smedley Butler. The industrialists and the families involved just slow burned and went dark with their aims and goals, and some handed off the plot to their children. But we got the same results they were after in 1933. It just took 40 something years.
Thank you. At times it felt intense, but informative never the less. In a nutshell, abusive political arrangements or plans often end up going hand in hand neoliberalism, libertarianism, neocolonialism, etc. If US really wishes to compete with China in a meaningful way it has to bring back real jobs by infrastructure and industries and pay the workers better wages internally and stop sabotaging other countries under the guise of democracy and freedom but unfortunately bad habits are hard to drop.
Who are you kidding? We can't compete. We lost around 2007. During 2nd Obama's term it was crystal clear. We're in a deep struggle and we'll be lucky if we get out of it alive. Why can't we compete? Because we're less people, we have less resources, and we're inherently incapable of organizing efficiently. Ok, maybe we can when it comes to simple jobs but looking at cutting edge fields & technologies we're clearly lagging behind. We better give up trying to "win", and focus on cooperation instead of competition.
Plus, our education system is failing. Our economy is mostly the MIC, financial services of our financial empire, that's failing btw despite being built to serve a tiny minority. Our economy is in large part service oriented, which seems convenient but it's just another reason why we're failing. Instead of building a productive economy with lots of essential jobs we've degenerated it into something where many many jobs do nothing but mend the issues this system created. It's becoming not just inefficient but nearly impossible to build on it to fix it. A hard reset would be more suitable but for that to succeed we need more self sufficiency... It's tricky.
I'd start with moving away from consumerism. Force corporations to build products that have replaceable parts. We can't continue building mountains of trash and wasting resources. Companies that build products made to break just to force you to buy a new one should be stripped of profits because they don't serve humanity. The marketing industry as a whole and insurance companies need to be shut down entirely, obviously repurposed. Power needs to go back to the roots, to the people, like it was always meant to be. Some ideas...
Great content. Tqvm Ben Norton for producing another educating historical piece that the world needs to be educated to make pragmatic decisions that can affect humanity.
Good one Ben.Thatcher the milk snatcher.when i was at primary school every child got a half pint of milk( in those days in a glass bottle with an inch of cream at the top)5 days a week from the state until thatcher came into power and stopped it.
Just the other day I watched Janet Street-Porter interview David Bowie, before he went on stage at Earls Court, 1978. He said, "you're tall aren't you" to which she replied, "free school milk" - it's pertinent because last month it was reported that UK children's average height has dropped due to poverty and poor diet.
To me as a Chinese, I see the West's ultra-liberal political ideology and economic policy as a form of irresponsibility and selfishness. But it is consistent with the US/West zero sum mentality, my gain is your loss, very different from China's ''win-win'' way of thinking where all parties benefit.
I am Mexican, and -- yes-- the US (West) political ideology and economic policies tend to be IRRESPONSIBLE ( the structural alteration leads to negative policial and public repercussions like higher crime because of low wage, and so forth), and SELFISHNESS ( being indiffirent no only to the local repercussions, but also international misery). The only remedy is to RESPECT. Respect that which is not yours; respect your neighbors, and respect others' cultures, whether be bizarre or irrational. There is no such thing as "win-win." Chinese does not run on this model. Chinese behave like White man, who think that they are the only smart human beings on Earth and every one else is stupid, so they TRY to take advanage of this, meaning that since you are a superior race, and we are stupid, you constantly behave in ways that try to take advantage of this "fact."
@@mikeyrose4183 I can not agree with you about the Chinese people. The Chinese are quite smart at business dealings yes, but not without moral principles, they certainly understand respect, and they also understand the importance of developing a long term relationship between business partners. You can ''take advantage'' of others once or twice, but eventually will be to the detriment of this relationship. I am not naive, NOBODY is stupid, the Chinese are humble enough to understand this.
@@Faye_Liu I have worked for Chinese, and I have done business with Chinese. I have studied Chinese politics and Military. I have gone to school with Chinese. I have observed the Chinese in every sense of the word, since I live in a city where it is considered the number one city where Chinese people live. Again, Chinese claim the "win-win' business paradigm. This is not true. You say Chinese are "smart" in business, but again, this is not true. Let me explain. A smart business man is an innovator. A smart business man creates a network of relations, and long-term ones like you said. A good business man doesn't have to screw others ("win-lose" paradigm). The Chinese considers a "smart" business man as someone who screws others and gets away. To reiterate: a smart business man doesn't have to do this because he or she is an innovator, and thus, is able to keep his or her bottom line in a desired amount. The problem wth the Chinese ( and this is one of their great downfalls), is that they see themselves as above everyone, and this can blind him or her. They see others who are not Asians or White as "inferior," and this is a myopia that is well-ingrained in them. This seed, so to speak, makes them behave in ways that can sabotage their own potentiial to REALLY be great people. This ethnocentrism is their own downfall. The only analogy I can give you is that of a boxer who gets ready to fight a fighter in a couple of months. Instead of watching the boxer's previous fights and analyzing them; then, training arduously, he comes to a conclusion that he doesn't need to because the other boxer "looks" weak and looks dumb. But when fight night comes, he is shocked that he is knocked out, and is on the floor looking up at the stars. It is good to see other cultures as below one's own, but the problem is that as an individual, you will fail to acquire ideas other cultures can offer. And precisely, the innovator or good business man is fraught with many ideas, good and bad, while the ethnocentric is narrow-minded, only living within his short vision.
If the CPC does not continue heavy regulations over the private capitalist sector. Those capitalist will find a way to dismantle the policies of the Chinese government.
@@mikeyrose4183 First of all, have I understood correctly that you live in China? And you have been dealing with the Chinese business people from Mainland China? I agree with you to a certain extend that there is such ''ethnocentrism'' in the Chinese mentality, both based on the fact that China has a long history and rich culture, (yes they consider themselves wise and well civilised people perhaps more than people from most other cultures) and also as I said they know they are smart at business, by the way, being smart at business often means not being nice likable people, it means being ruthless and cold a lot of the times, yes business competitions are tough, the Chinese learned this since very young, how to out compete among thousands, hundreds of thousands of school kids to reach the top universities they aim to get to, it is often their only way up in transforming their lives. This culture is unique to the Chinese. And yes, some see foreigners as ''inferior'', and guess what some see Whites as inferior too, but most of the time this is not based on race, this is more to do with the economic status of the country where these people are from, there is this ''I care more dealing with people from ''rich'' countries, and less with people from less developed countries'' way of thinking, but again, I feel your experience is not representative of all Chinese (business) people, or you have not truly understand what the Chinese people are all about, there are A LOT of cultural differences, many of which some Westerners could never get use to, nevertheless, most Chinese people are actually very friendly and welcoming of people of other cultures and races. To generalise a whole nation of people is itself narrow minded.
Thanks Ben for defining the meaning of “Neoliberalism” to us! I have always been confused by that term since to me “Liberalism” should mean something having to do with the Democrats, but when people used that term to describe the Republicans I was very confused! For a while I thought it was simply a biased commentator’s attempt to attribute all of the wrongs that have been done by the Republicans to the Democrats by attributing all of the Republicans’ past harsh policies to Liberals! - Meaning the Democrats in today’s term!
Ben did a great job. The term is too 'hefty' for popular understanding. We need a language that can penetrate the wall of propaganda and this might mean abandoning the terms 'left', 'right', 'liberal-conservative' and especially 'progressive'. The concept is so important and not that difficult to understand if put within a language of accessibility. Good work, Ben.
@@DannyWeil I find it supremely interesting that our 3 “neoliberal era” Presidents with the smallest damage to our bank balance were all single (not standard double?) term leaders or forced out early, as in Nixon? 🧐So DIM/RePUG Party affiliation was not influential, just length of control? 💣They all, every single one, were WarCriminals with illegal CIA COUPs under their belts💣 if not more open warfare.
@plurabelle5 - He isn’t talking about the confusion of leftists, in or out of the US. He’s talking about reaching uninformed centrists in the imperial core. The “moderate” white liberal, if you will. It is only they who think liberalism is “left wing”.
@@DannyWeil Do you think "austerity" is a good synonym that captures most of the meaning of "neoliberalism" and is readily understood by people who don't spend all their time studying political topics?
@plurabelle5 but then in u.s. is used to describe those who oppose conservative values like man and woman only family and are pro secularism, abortion rights and gay rights so it gets very confusing.
Superb macroeconomics crash course without the usual fluff. Wish I could subscribe a couple million viewers to this channel. Thanks for your efforts, sir.
This video should be watched at least twice. Sadly our failing educational systems leave attendees so ignorant that the large majority probably couldn't even comprehend what is being said here. When I was in college 40 years ago they taught Keynsian economics. No longer.
Excellent, Ben, as always. One small but important point: i wouldn't call the Global North "advanced", "leading", "industrialized", or "developed". Colonialist, imperialist, or Global North, are more accurate terms.
You would think that most income comes from getting paid for doing something productive. Think again. “It is suggested that the tipping point for being a rentier economy is when 40 per cent of income comes from rent. Even if just interest and dividends are counted as rent, the USA is already at that point.” Standing, Guy. The Corruption of Capitalism (p. 114). 2016
Very educational, thank you very much. I lived in Yugoslavia and that kind of information were not available. Your explanation about economy decades ago till now is very useful for me.
Here's some trivia for ya ... When Margaret Thatcher died in 2013 the 75 year old song "Ding-Dong! The Witch Is Dead" shot to #2 on the UK Singles Charts. That's how beloved and popular a leader Thatcher was.
The time has come for me to finally financially support Ben Norton. He just keeps surrounding himself with smart people, and his chops as well as intelligibleness just keep expanding as a result. Max Blumenthal? Aaron Maté? And now even legendary, brutal hardhitters like Michael Hudson?
This was truly enlightening, I have been able to understand the big picture now. Probably I will listen a second time. Ben is doing these videos extremely well, he has a great talent to explain, to connect dots, to convey a big overview. Exceptional.
This is very timely for me. At 84 years, I have lived through a lot of this, and have been studying Neoliberalism for the past year. This guy is spot on. I lived in London from late 1979 to the end of 1986, and saw Maggie close up. I didn’t have a political framework to view her, and was slightly seduced by her ideas. The damage that she and Reagan caused was not evident to me until GWB. Then my eyes opened .
i just learned in a course at work on electricity supply chains that chile was among the first to liberalise the power supply industry in the 80s. and i thought that was odd, given that socialist governments tend to prefer state control over it as electricity is seen as ‘infrastructure’ rather than a “commodity”, hence the value is in making it available to spur industry and commerce, not as an industry in itself. but yeah i forgot chile got CIA’s just before the 80s. liberalising power supply was supposed to lower bills for consumers due to competition, but today with global supply volatility, all the countries with liberalised power supply are the ones with the greatest energy inflation and the countries who still have government controlled vertically integrated power supply are able to attenuate the volatility much better - because there aren’t several power chain stages all trying to maximise profit by arbitraging the volatility.
What a crazy map of the Middle East where the US is under such AIPAC dominance that it lists Israel as a country when it didn't come into existence until 1948, and was named British Administered Palestine!
Excellent presentation. I just want to point out that in political economy Classical liberalism argues that labor is the creator of new material values in the means of production. Neoliberalism assumed that the monopoly bourgeoisie is the creator of wealth, provider of jobs and a surefire solution to stagnation.
I am old enough to remember Milton Friedman's television show on public television back in the late 70's, early 80's. He had a tremendous influence on economc and political thinking.
The neoliberal policy of 'free market' globalization was launched more than 40 years ago. Yes, it was considered by the US and its imperialist partners as the surefire way to solve the problem of stagflation. How? By pressing down wages, cutting back on social spending, liberalizing trade and investments, and doing away with regulations.
It interesting how the US is very much Keynesian when it comes to militarism but neoliberal when it comes to spheres of public well-being. It's good to point out that Nixon was referring to military Keynesianism and not postwar Keynesianism like that after WW2 characterised by public sector investment and full employment. The whole reason the US dropped the gold standard was so it could fund wars indefinitely.
Thank you Ben Norton! 🙏👏 Your work is so inspiring! 🤗👏 It’s an economic coarse excellently designed which has been ignored in academia! Needed to listen to it three times and each time it opens up many doors for me to understand the process more clearly!! Bravo 👏 🎉🎉🙏🙏
Well done, thank you. Imagine if economists could see that China's Poverty Alleviation Program actually caused the internal market economy to grow & increased GDP dramatically! That it is beneficial economically & politically to spend the time (10+ years) & money (billions), human resources (1 million workers assigned to the task) to lift people out of poverty! Not with "hand-outs" but with targeted programs for local enterprise, job creation, improved infrastructure, etc. All those "useless eaters" become a major engine for continued economic stability! What a paradigm shift!
I don't commend her, personally, but Naomi Klein wrote a more or less great book, for anyone wanting to understand Neoliberalism and the "Washington Consensus." I'm talking about "The Shock Doctrine." About 90%, give or take a few percentage points, here and there, of what she writes in that book, is accurate; and offers an incredibly accurate description of neoliberalism in-action, in recent world geopolitics. Basically, Neoliberalism is Libertarian Free-Market Fundamentalism, based upon the neo-classical economic theory of figures such as Ayn Rand, Milton Friedman, Alan Greenspan, and other champions of the 'Austrian School.'
@@view1st The short answer is: America itself is not "neoliberal", and only briefly ever was (probably 3 years), but rather it's a system we export as a tool for domination. The correct term for all advanced capitalist countries is State Monopoly Capitalism, IMO. Or just imperialist.
At 10:00 so far, a very good summary of events leading up to the '70's. You do fail to mention Vietnam as a major cause of inflation, but my concern is not that. It is whether you go on in this video to suggest that if only things had remained Keynesian and not become neoliberal we would not be in the current state. Because that is absolutely not the case, it is capitalism itself that is the problem and not just its neoliberal variant. I hope you avoid the mistake of thinking capitalism can be reformed by defeating neoliberalism. It's still socialism or barbarism, there is no going back!
Excellent disquisition. The way you explained it all is excellent and greatly appreciated. When you look at the chronology roughly, it seems that Maggie milk snatcher Thatcher and Ronnie Reagan colluded to ramp up neoliberalism (a.k.a. racist organized crime impunity racketeering, fascist rentier hegemony) right about Angola, and the battle of Cuito Carnivale, and when they saw the writing on the wall in the fall of apartheid South Africa on the horizon. They had already seen Rhodesia fall and they freaked out and now we are in this ramped up on steroids worldwide organized crime impunity racketeering fascist rentier hegemony (neoliberalism).
If you go back in time and listen to them pre-Presidency -PM they were always both complete freaks , Reagan was making pro corporate anti social security etc. propaganda in films and recorded on records in the 40s and 50s .
Excellent speech Ben. Maybe congress can force the IRS to start auditing inheritance estate accounts and begin taxing the wealthy with both a progressive inheritance estate tav as well as a progressive income tax. Then the U.S. would be in a position to invest in the manufacture of tangible goods here in the U.S. instead CEOs buying back stock, stock buy backs, in their own companies and calling it growth.
Let us not forget the privatized slave trade run out of Britain. Eventually the 'state' abolished their own slave trading company and allowed the trade to be handled by rogues and thugs --- human traffickers. You have outlined: Master-Slave Lord-serf, peasant Capital-labor (or wage slavery). Finance capital-serfdom We are not just talking about 'the class struggle' here but an entire Age of Domination that we continue to live in and under.
If the majority of the world's leaders are as competent as that of China, change could be faster and easier but with a mentally sick southern neighbour, change may be delayed slightly but will still happen
We need more americans watching programs like this one. NOT THE USUAL TV NEWS. Thank you Ben
It is benefitting certain Americans. Why would they care ?
@@yashpatel261some of us genuinely do. It’s extremely disheartening, though, to bring up some of the issues of today, and be met with selfish indifference or even outright opposition from my fellow Americans only interested in perpetuating their own material conditions (as if they aren’t also exploited, but merely placated by the treats and trinkets of the “first world”)
I’m sorry to all international comrades who have to watch America disregard your interests. I hope for humanity’s sake that the multipolar future we’re seeing the beginnings of comes to fruition
@@yashpatel261o
@@thatonezone the xx x d
That would require them first taking the time to think.
I'm Australian but went to college in America. I love the place and love the people but damn there are these threads (or themes) of disconnect that run through American society like cancer.
On one hand America has this incredible belief that they can do stuff that I wish Australia had more of. It actually infuriates me when Australian's drop the ball and say its too hard which our political leaders do all the time.
On the other hand there's the incredible delusion that because some Americans have done amazing things then that makes all Americans amazing and everything they do amazing. Treating the planet like it has unlimited resources and can be bashed stupid without consequence is delusional. Preaching to the world that you are the bastion of _"Freedom and Democracy"_ as you support psychotic dictatorships and provide safety and refuge to war criminals is even more delusional.
Just yesterday I saw people talking about America's child labor issues and how a 16 year old was killed in a timber mill where they should NOT have been working. *How TF can America be going backwards on child labor laws???*
The result of neo-colonialism is that foreign capital is used for the exploitation rather than for the development of the less developed parts of the world. Investment under neo-colonialism increases rather than decreases the gap between the rich and the poor countries of the world.
The struggle against neo-colonialism is not aimed at excluding the capital of the developed world from operating in less developed countries. It is aimed at preventing the financial power of the developed countries being used in such a way as to impoverish the less developed
If,,, pollution deemed the token of our esteem was taxed",,, that my mutually "reducing that " What is the bane of say such a blight be sickness, waste,,etc,etc, that's right ad naseumn, ignorance period mutually synomous they be, pollution disease if more familiar aka,,, war disease, not the more familiar Vietnam syndrome 🤔,if, not What if, just if,TAX POLLUTION instead of efforts & works unto idiotic ignorance
You have excellent knowledge regarding the geopolitics history and and you know culture not too many American scientists can explain exactly I have another question how did you like living in Nicaragua yes I'm thinking to relocate and to do some business you know so I can work remotely and I want to send to my global clients medications for animals you know like under 1 lb 1 lb approximately 2 lb you know medications for chicken horses pigeon calls everything else so I have to find out how reliable is the Nicaragua post office to ship to us to Europe this is a stents tracking number and also can I get the easy transfer money from my banking the US to the bank in Nicaragua can I get also early retirement schedule to be deposited to my bank in New caragua I'm Polish American in McLean Virginia but there is no sense leaving in McLean because people are so unfriendly like all over us people are not the same so I want to have a piece of mind and and probably I want to leave in the old part of the capital city of the Nicaragua have a little culture and the place first before buying for one or two years rent for one or two years it's not I will move to Belarus or Russia
That speech by little Sullivan is quite astonishing. It's a low key revolution in US official discourse
He might be out on his ear for such an admission of the US being a failed state policy wise.
Where did he give that speech and when?
Ben, I am glad there are people like you to set the record straight.
He makes good points but the growth of Keynesian era is due to countries recovering from a world war
This was brilliant, Ben. You should publish this in a journal. Well written and conveyed in a smart, precise, and convincing manner.
Ben, I learn so much from you. Also, you understand China better than most Chinese. I greatly appreciate your time and effort!
@countson6088 I would not say most, but yes a few think like that, many of whom are simply naive and kind natured. They need to come to the West like I have done to understand the West is not all that great, in fact a lot worse than China in many respects. Also as the US/West is going full contain China mode, that will help to wake them up from this bubble.
You are probably right as the majority of the public, wherever they belong are politically n financially ignorant
R u Chinese
He can't explain why so many of them are sneaking through the US borders....
Ben is good. Learn much from him. He explains well.
Perfectly explained. The tragedy of neoliberalism and interventionism.
Ben Norton is brave and brilliant journalist 👏. He stay on TRUTH and expose hypocrites
And there are plenty of hypocrites to go around in the Western capitalist world.
We desperately need a change.
We desperately want a change. 🖤♥️💛💚
I don’t think this would be the change that you’re pleased with and I think that the world’s gone insane and you can stay insane if you want to, but it’s crazy. Trump is crazy and his minions are crazy. They’re insane for real.
Another outstanding analysis, as always! Thank you very much Ben for your accurate and precise journalist work: it is very important, now, more than ever!
Great Ben, thanks for bringing that clip of Jake Sullivan's speech to our attention. He must have choked on every word. We got them on the run now. Now is the time to redouble our efforts and give them no chance to catch their breath.
Thank you very much, Ben Norton, this is a really complete and excellent work about neoliberalism.
Thank you for pointing at the fact that Chile was the world laboratory for neoliberalism.
I’m Chilean, born in 1970. Mi country is still trying to recover from the horrible imperialist abuse imposed to Chile and the region by neoliberalism and transnational corporations power over local democracy.
Bless you
Dale hermano, gracias al "neoliberalismo" que hoy son un pais de latinoamerica con mayor renta per capita. ¿O acaso quieren ser como nosotros, los argentinos, pobres y miserables por decadas de estatismo anti libre mercado? No seas necio por favor, estos yankis no saben los privilegios que tienen, parece que vos tampoco...
neoliberalism is the fancy safe word for fascism.................you see you cant have anyone calling the USA a fascist state because fascism is something that happens over there not here
100% correct
Neoliberalism, was, as is, the triumph of the Business Plot against Roosevelt in 1933 that was thwarted by Smedley Butler. The industrialists and the families involved just slow burned and went dark with their aims and goals, and some handed off the plot to their children. But we got the same results they were after in 1933. It just took 40 something years.
Completely agree! And the ruling class are going to get even nastier than they are now defending it.
Well said! 👍
Neoliberalism is basically about the rule of oligarchs, the replacement of government by big corporations.
Absolutely high quality content, much appreciated
Thank you. At times it felt intense, but informative never the less.
In a nutshell, abusive political arrangements or plans often end up going hand in hand neoliberalism, libertarianism, neocolonialism, etc.
If US really wishes to compete with China in a meaningful way it has to bring back real jobs by infrastructure and industries and pay the workers better wages internally and stop sabotaging other countries under the guise of democracy and freedom but unfortunately bad habits are hard to drop.
Criminals will remain criminals, this is already a national psyche
Who are you kidding?
We can't compete. We lost around 2007. During 2nd Obama's term it was crystal clear. We're in a deep struggle and we'll be lucky if we get out of it alive.
Why can't we compete?
Because we're less people, we have less resources, and we're inherently incapable of organizing efficiently. Ok, maybe we can when it comes to simple jobs but looking at cutting edge fields & technologies we're clearly lagging behind. We better give up trying to "win", and focus on cooperation instead of competition.
Plus, our education system is failing. Our economy is mostly the MIC, financial services of our financial empire, that's failing btw despite being built to serve a tiny minority. Our economy is in large part service oriented, which seems convenient but it's just another reason why we're failing. Instead of building a productive economy with lots of essential jobs we've degenerated it into something where many many jobs do nothing but mend the issues this system created. It's becoming not just inefficient but nearly impossible to build on it to fix it. A hard reset would be more suitable but for that to succeed we need more self sufficiency... It's tricky.
I'd start with moving away from consumerism. Force corporations to build products that have replaceable parts. We can't continue building mountains of trash and wasting resources. Companies that build products made to break just to force you to buy a new one should be stripped of profits because they don't serve humanity.
The marketing industry as a whole and insurance companies need to be shut down entirely, obviously repurposed.
Power needs to go back to the roots, to the people, like it was always meant to be.
Some ideas...
Kennedy can get us there. He and Shanahan are what this country need.
It would be great if Ben's channel had a few million subscribers. It would be a compliment to our society.
Great content. Tqvm Ben Norton for producing another educating historical piece that the world needs to be educated to make pragmatic decisions that can affect humanity.
Ben, you are a great teacher. You explain things clearly and concisely.
Good one Ben.Thatcher the milk snatcher.when i was at primary school every child got a half pint of milk( in those days in a glass bottle with an inch of cream at the top)5 days a week from the state until thatcher came into power and stopped it.
Just the other day I watched Janet Street-Porter interview David Bowie, before he went on stage at Earls Court, 1978. He said, "you're tall aren't you" to which she replied, "free school milk" - it's pertinent because last month it was reported that UK children's average height has dropped due to poverty and poor diet.
@@stuartwray6175it’s so shocking to me. I’m from India
Ben I'm glad your channel focus on the economy side of geopolitics I'm getting sick of other channels reporting of the Ukraine war
To me as a Chinese, I see the West's ultra-liberal political ideology and economic policy as a form of irresponsibility and selfishness. But it is consistent with the US/West zero sum mentality, my gain is your loss, very different from China's ''win-win'' way of thinking where all parties benefit.
I am Mexican, and -- yes-- the US (West) political ideology and economic policies tend to be IRRESPONSIBLE ( the structural alteration leads to negative policial and public repercussions like higher crime because of low wage, and so forth), and SELFISHNESS ( being indiffirent no only to the local repercussions, but also international misery). The only remedy is to RESPECT. Respect that which is not yours; respect your neighbors, and respect others' cultures, whether be bizarre or irrational.
There is no such thing as "win-win." Chinese does not run on this model. Chinese behave like White man, who think that they are the only smart human beings on Earth and every one else is stupid, so they TRY to take advanage of this, meaning that since you are a superior race, and we are stupid, you constantly behave in ways that try to take advantage of this "fact."
@@mikeyrose4183 I can not agree with you about the Chinese people. The Chinese are quite smart at business dealings yes, but not without moral principles, they certainly understand respect, and they also understand the importance of developing a long term relationship between business partners. You can ''take advantage'' of others once or twice, but eventually will be to the detriment of this relationship. I am not naive, NOBODY is stupid, the Chinese are humble enough to understand this.
@@Faye_Liu
I have worked for Chinese, and I have done business with Chinese.
I have studied Chinese politics and Military. I have gone to school with Chinese. I have observed the Chinese in every sense of the word, since I live in a city where it is considered the number one city where Chinese people live.
Again, Chinese claim the "win-win' business paradigm. This is not true. You say Chinese are "smart" in business, but again, this is not true. Let me explain.
A smart business man is an innovator. A smart business man creates a network of relations, and long-term ones like you said. A good business man doesn't have to screw others ("win-lose" paradigm). The Chinese considers a "smart" business man as someone who screws others and gets away. To reiterate: a smart business man doesn't have to do this because he or she is an innovator, and thus, is able to keep his or her bottom line in a desired amount.
The problem wth the Chinese ( and this is one of their great downfalls), is that they see themselves as above everyone, and this can blind him or her. They see others who are not Asians or White as "inferior," and this is a myopia that is well-ingrained in them. This seed, so to speak, makes them behave in ways that can sabotage their own potentiial to REALLY be great people.
This ethnocentrism is their own downfall. The only analogy I can give you is that of a boxer who gets ready to fight a fighter in a couple of months. Instead of watching the boxer's previous fights and analyzing them; then, training arduously, he comes to a conclusion that he doesn't need to because the other boxer "looks" weak and looks dumb. But when fight night comes, he is shocked that he is knocked out, and is on the floor looking up at the stars.
It is good to see other cultures as below one's own, but the problem is that as an individual, you will fail to acquire ideas other cultures can offer. And precisely, the innovator or good business man is fraught with many ideas, good and bad, while the ethnocentric is narrow-minded, only living within his short vision.
If the CPC does not continue heavy regulations over the private capitalist sector. Those capitalist will find a way to dismantle the policies of the Chinese government.
@@mikeyrose4183 First of all, have I understood correctly that you live in China? And you have been dealing with the Chinese business people from Mainland China? I agree with you to a certain extend that there is such ''ethnocentrism'' in the Chinese mentality, both based on the fact that China has a long history and rich culture, (yes they consider themselves wise and well civilised people perhaps more than people from most other cultures) and also as I said they know they are smart at business, by the way, being smart at business often means not being nice likable people, it means being ruthless and cold a lot of the times, yes business competitions are tough, the Chinese learned this since very young, how to out compete among thousands, hundreds of thousands of school kids to reach the top universities they aim to get to, it is often their only way up in transforming their lives. This culture is unique to the Chinese. And yes, some see foreigners as ''inferior'', and guess what some see Whites as inferior too, but most of the time this is not based on race, this is more to do with the economic status of the country where these people are from, there is this ''I care more dealing with people from ''rich'' countries, and less with people from less developed countries'' way of thinking, but again, I feel your experience is not representative of all Chinese (business) people, or you have not truly understand what the Chinese people are all about, there are A LOT of cultural differences, many of which some Westerners could never get use to, nevertheless, most Chinese people are actually very friendly and welcoming of people of other cultures and races. To generalise a whole nation of people is itself narrow minded.
As a Brazilian, I completely endorse all you said along the entirety of your explanation.
Wow, so much info here. Worth a 2nd and maybe a 3rd listen to grasp it all. Thanks, great job!
I don't get tired of writing,great work,thank you Ben
thatcher was an influential know nothing............reagan was right there with her
Yup. Puppets. Very charismatic but puppets nonetheless.
Sounds like they were useful idiots.
Thank you, Ben.
I learned all that at college and forgot all about it. This tutorial was very useful in remembering why we continue being in such mess.
That is why I love economics. I took economics for two years and then I switched to business. I wish I took economics all the way through.
Discovering this channel is a godsend.
More power Ben and many thanks !
Fukuyama was right. Development of our civilisation ended in 1980 and with neoliberalism it started moving backwards towards feudalism
Thanks Ben for defining the meaning of “Neoliberalism” to us! I have always been confused by that term since to me “Liberalism” should mean something having to do with the Democrats, but when people used that term to describe the Republicans I was very confused! For a while I thought it was simply a biased commentator’s attempt to attribute all of the wrongs that have been done by the Republicans to the Democrats by attributing all of the Republicans’ past harsh policies to Liberals! - Meaning the Democrats in today’s term!
Ben did a great job. The term is too 'hefty' for popular understanding. We need a language that can penetrate the wall of propaganda and this might mean abandoning the terms 'left', 'right', 'liberal-conservative' and especially 'progressive'.
The concept is so important and not that difficult to understand if put within a language of accessibility.
Good work, Ben.
@@DannyWeil I find it supremely interesting that our 3 “neoliberal era” Presidents with the smallest damage to our bank balance were all single (not standard double?) term leaders or forced out early, as in Nixon?
🧐So DIM/RePUG Party affiliation was not influential, just length of control?
💣They all, every single one, were WarCriminals with illegal CIA COUPs under their belts💣 if not more open warfare.
@plurabelle5 - He isn’t talking about the confusion of leftists, in or out of the US. He’s talking about reaching uninformed centrists in the imperial core. The “moderate” white liberal, if you will. It is only they who think liberalism is “left wing”.
@@DannyWeil Do you think "austerity" is a good synonym that captures most of the meaning of "neoliberalism" and is readily understood by people who don't spend all their time studying political topics?
@plurabelle5 but then in u.s. is used to describe those who oppose conservative values like man and woman only family and are pro secularism, abortion rights and gay rights so it gets very confusing.
Superb macroeconomics crash course without the usual fluff. Wish I could subscribe a couple million viewers to this channel. Thanks for your efforts, sir.
What an informative video...❤
Thank you Ben I love your video essay style long form videos. Very well thought out and well put together. Thank you.
This video should be watched at least twice. Sadly our failing educational systems leave attendees so ignorant that the large majority probably couldn't even comprehend what is being said here. When I was in college 40 years ago they taught Keynsian economics. No longer.
Excellent, Ben, as always. One small but important point: i wouldn't call the Global North "advanced", "leading", "industrialized", or "developed". Colonialist, imperialist, or Global North, are more accurate terms.
I learn from this young man a lot. Thank you Ben
You would think that most income comes from getting paid for doing something productive. Think again.
“It is suggested that the tipping point for being a rentier economy is when 40 per cent of income comes from rent. Even if just interest and dividends are counted as rent, the USA is already at that point.”
Standing, Guy. The Corruption of Capitalism (p. 114). 2016
Dear Ben... a very clear and excellent explanation of neo-liberalism. Many thanks for that and keep up the good work.
Very educational, thank you very much. I lived in Yugoslavia and that kind of information were not available. Your explanation about economy decades ago till now is very useful for me.
Here's some trivia for ya ...
When Margaret Thatcher died in 2013 the 75 year old song "Ding-Dong! The Witch Is Dead" shot to #2 on the UK Singles Charts.
That's how beloved and popular a leader Thatcher was.
I remember. Of course, in the US, the media was having a fit that the song was played in the UK.
There's not enough piss in the world for her and Reagan's graves .
That's before the UK became a vassal
@@JohnT.4321really? Why does anyone in the U.S like that woman?
@@AltairEgo1 I was talking about US Right Wing media back in the day.
'Government is the problem,' said Reagan, because he was the head of the government. So he wasn't entirely wrong.
The time has come for me to finally financially support Ben Norton. He just keeps surrounding himself with smart people, and his chops as well as intelligibleness just keep expanding as a result. Max Blumenthal? Aaron Maté? And now even legendary, brutal hardhitters like Michael Hudson?
All those who can afford should give support so that the truth can continue to spread
Thank you. G/E is becoming my favorite university. 😊❤
Very good information
Any economic policy with zero state intervention, becomes a plutocracy.
This was truly enlightening, I have been able to understand the big picture now. Probably I will listen a second time. Ben is doing these videos extremely well, he has a great talent to explain, to connect dots, to convey a big overview. Exceptional.
Great work Ben, thank you.
Like i said last video, your content keeps getting better.
China's success is forcing the US to adopt New Keynesian economics much like the rise of the USSR forced the US to adopt OG Keynesian economics.
Good job. Useful primer on the subject.
This is very timely for me. At 84 years, I have lived through a lot of this, and have been studying Neoliberalism for the past year. This guy is spot on. I lived in London from late 1979 to the end of 1986, and saw Maggie close up. I didn’t have a political framework to view her, and was slightly seduced by her ideas. The damage that she and Reagan caused was not evident to me until GWB. Then my eyes opened .
GWB? As in, George W. Bush? Dubya, as we used to call him.
@@AltairEgo1 yes
Bad policies have a lasting impact even decades after.
This platform is very informative and very helpful.
Professor Ben has the ability to teach university courses.
Congrats Ben, for one the best speeches so far this year, delivered with elegance and eloquence...
i just learned in a course at work on electricity supply chains that chile was among the first to liberalise the power supply industry in the 80s. and i thought that was odd, given that socialist governments tend to prefer state control over it as electricity is seen as ‘infrastructure’ rather than a “commodity”, hence the value is in making it available to spur industry and commerce, not as an industry in itself. but yeah i forgot chile got CIA’s just before the 80s.
liberalising power supply was supposed to lower bills for consumers due to competition, but today with global supply volatility, all the countries with liberalised power supply are the ones with the greatest energy inflation and the countries who still have government controlled vertically integrated power supply are able to attenuate the volatility much better - because there aren’t several power chain stages all trying to maximise profit by arbitraging the volatility.
Very enlightening. Great stuff as usual from Ben.
Excellent video. Thank you❤❤
Ben, amazing work that you do, great video, so enriching, I watched it non-stop, thank you so much
Brilliant expose! Neoliberalism, an umbrella terminology/movement which cocooned fascism into bridging from WW2 to the WW3 remake attempt
Always this podcast is very informative and eye opening.
Great analysis after great analysis... Thnx Ben!
As long as you talk I will listen
Well done Ben
What a crazy map of the Middle East where the US is under such AIPAC dominance that it lists Israel as a country when it didn't come into existence until 1948, and was named British Administered Palestine!
You could be giving this as a lecture at Harvard or Yàle , good stuff .
Only in the USA do people think liberals are leftists...
Liberals still serve the interest of the capitalist class.
💯
What a joke
Excellent presentation. I just want to point out that in political economy Classical liberalism argues that labor is the creator of new material values in the means of production. Neoliberalism assumed that the monopoly bourgeoisie is the creator of wealth, provider of jobs and a surefire solution to stagnation.
Thanks! ❤
People accuse socialists of being dogmatic, but then believe in shit like neoliberalism benefitting people because of a line they drew.
I am old enough to remember Milton Friedman's television show on public television back in the late 70's, early 80's. He had a tremendous influence on economc and political thinking.
He washed his hands of the murders in Chile. He was a pig.
Which political party operates the TV media？
@@兼明-p2b Oligarichal Media Owners have complete control of Political Parties, Politicians and the Public Opinion.
The neoliberal policy of 'free market' globalization was launched more than 40 years ago. Yes, it was considered by the US and its imperialist partners as the surefire way to solve the problem of stagflation. How? By pressing down wages, cutting back on social spending, liberalizing trade and investments, and doing away with regulations.
I agree, Government should be in charge of energy. However, there should also be a free market energy option
Excellent work! I appreciate your shows. I will recommend all of your work to my friends, family and students.
Bro, thank u for teaching real history
Thankyou Ben 🌿
Thanks for an excellent analysis
It interesting how the US is very much Keynesian when it comes to militarism but neoliberal when it comes to spheres of public well-being. It's good to point out that Nixon was referring to military Keynesianism and not postwar Keynesianism like that after WW2 characterised by public sector investment and full employment. The whole reason the US dropped the gold standard was so it could fund wars indefinitely.
The results are taking place everywhere... even in USA and Europe...
Thank you Ben Norton! 🙏👏
Your work is so inspiring! 🤗👏
It’s an economic coarse excellently designed which has been ignored in academia!
Needed to listen to it three times and each time it opens up many doors for me to understand the process more clearly!! Bravo 👏 🎉🎉🙏🙏
BRILLIANT, THANK-YOU FROM 🇬🇧
Great summary.
Thank you Ben. A giant download!!
Fantastic analysis and coherent presentation.
Great Journalist and Truth Teller.Salute.🙋🙋🙋🙋🙋🙋🙋🙋🙋🙋🙋
Best luck, health, love, praying for you ❤
Top notch. Very impressive Ben! Thank you for this.
Well done, thank you. Imagine if economists could see that China's Poverty Alleviation Program actually caused the internal market economy to grow & increased GDP dramatically! That it is beneficial economically & politically to spend the time (10+ years) & money (billions), human resources (1 million workers assigned to the task) to lift people out of poverty! Not with "hand-outs" but with targeted programs for local enterprise, job creation, improved infrastructure, etc. All those "useless eaters" become a major engine for continued economic stability! What a paradigm shift!
So true. Now though with Xi Jinping becoming a dictator the situation in China will change dramatically with no more big GDP numbers.
Thank you for uploading.
RIGHT FOR ME GIVES EVERY HUMAN BEING ON THE PLANET A FEELING OF EQUITY GIVING MIGHTY MIGHT TO ALL.
Well explained and analyzed. Good work.
Thanks for a clear passionate explanation.
I don't commend her, personally, but Naomi Klein wrote a more or less great book, for anyone wanting to understand Neoliberalism and the "Washington Consensus."
I'm talking about "The Shock Doctrine." About 90%, give or take a few percentage points, here and there, of what she writes in that book, is accurate; and offers an incredibly accurate description of neoliberalism in-action, in recent world geopolitics.
Basically, Neoliberalism is Libertarian Free-Market Fundamentalism, based upon the neo-classical economic theory of figures such as Ayn Rand, Milton Friedman, Alan Greenspan, and other champions of the 'Austrian School.'
It's basically what the British employed during the empire, applying it to others, of course, not itself. At home it was protectionist.
@@view1st The short answer is: America itself is not "neoliberal", and only briefly ever was (probably 3 years), but rather it's a system we export as a tool for domination. The correct term for all advanced capitalist countries is State Monopoly Capitalism, IMO. Or just imperialist.
At 10:00 so far, a very good summary of events leading up to the '70's. You do fail to mention Vietnam as a major cause of inflation, but my concern is not that. It is whether you go on in this video to suggest that if only things had remained Keynesian and not become neoliberal we would not be in the current state. Because that is absolutely not the case, it is capitalism itself that is the problem and not just its neoliberal variant. I hope you avoid the mistake of thinking capitalism can be reformed by defeating neoliberalism. It's still socialism or barbarism, there is no going back!
Ben is a stone cold leftist ,He knows that fact already .
What are the options?
@@Noitisnt-ns7mo Communism or extinction.
Excellent disquisition. The way you explained it all is excellent and greatly appreciated. When you look at the chronology roughly, it seems that Maggie milk snatcher Thatcher and Ronnie Reagan colluded to ramp up neoliberalism (a.k.a. racist organized crime impunity racketeering, fascist rentier hegemony) right about Angola, and the battle of Cuito Carnivale, and when they saw the writing on the wall in the fall of apartheid South Africa on the horizon. They had already seen Rhodesia fall and they freaked out and now we are in this ramped up on steroids worldwide organized crime impunity racketeering fascist rentier hegemony (neoliberalism).
Those who control the world's finances will call the shots
If you go back in time and listen to them pre-Presidency -PM they were always both complete freaks , Reagan was making pro corporate anti social security etc. propaganda in films and recorded on records in the 40s and 50s .
Excellent speech Ben. Maybe congress can force the IRS to start auditing inheritance estate accounts and begin taxing the wealthy with both a progressive inheritance estate tav as well as a progressive income tax. Then the U.S. would be in a position to invest in the manufacture of tangible goods here in the U.S. instead CEOs buying back stock, stock buy backs, in their own companies and calling it growth.
no way,The vested interests represented by Wall Street won't agree.
Agreed! ❤
Thank you for your very lucid explanation!
Perfectly summarised for the understanding of all truth seekers as usual. Thanks again
Thanks for the history lesson ❤❤❤
You are a Marksman Ben!
Let us not forget the privatized slave trade run out of Britain. Eventually the 'state' abolished their own slave trading company and allowed the trade to be handled by rogues and thugs --- human traffickers.
You have outlined:
Master-Slave
Lord-serf, peasant
Capital-labor (or wage slavery).
Finance capital-serfdom
We are not just talking about 'the class struggle' here but an entire Age of Domination that we continue to live in and under.
If the majority of the world's leaders are as competent as that of China, change could be faster and easier but with a mentally sick southern neighbour, change may be delayed slightly but will still happen