Has neoliberalism failed? Reflections on Western society | LSE Event

[@futures2247]

failed? its been wildly successful at enriching the few and ruining everything else, just as intended.

[@johnkintree763]

It's time to talk about building a global platform for digital democracy so we can vote for principles and policies instead of personalities and political parties.

[@ryanpoole3369]

The arrogance of a neoliberal suggesting that those who are increasingly suffering the very material consequences of the failures of neoliberalism are somehow responding irrationally is pretty true to type, but galling all the same. These privileged market zealots have abandoned epistemic justification, but abuse appeals to authority as if their theories were based on rigorous science, then proceed to denigrate as irrational and ignorant those who have lost out under their ubiquitous implementation. Neoliberalism isn't some platonic solid, perpetually immune from having to face up to the consequences of it's application. Neoliberalism is the hubris of "the End of History", of a denialism of society no less specious than climate denialism, that has dragged us back to right-wing authoritarianism, and is directly responsible for the disproportionate power wielded by the likes of Donald Trump, Elon Musk, Peter Thiel, etc.

[@patrickvernon4766]

I better discussion would be “how do we measure failure”

[@JimArdal]

Agreed, there's no framework for these wide-wheeling discussions in economics

[@andreselectrico]

Fully agree. They have "successfully" deflected attention from the real issue.

[@isatousarr7044]

Neoliberalism, with its emphasis on deregulation, privatization, and the primacy of markets over state intervention, has undeniably shaped Western societies for decades. However, from an economic justice perspective, its legacy is one of deep contradictions. While proponents argue that neoliberal policies have spurred innovation and economic growth, the reality for many has been rising inequality, job insecurity, and the erosion of public goods. The 2008 financial crisis exposed the fundamental flaws of an unchecked free market, yet the response often doubled down on austerity rather than structural reform. Wealth concentration has accelerated, with billionaires amassing fortunes while wages stagnate for the working class. The promise that free markets lift all boats has given way to a stark reality: social mobility has declined, public services are underfunded, and precarity is now a defining feature of work. Moreover, neoliberalism has failed to account for externalities like environmental degradation. Climate change, fueled by market-driven short-termism, is a direct consequence of an economic system that prioritizes profit over planetary well-being. In this light, the persistence of neoliberalism is not just an economic failure but an ethical one-one that sacrifices collective dignity for individual gain. A fairer, more sustainable economic model must center justice, resilience, and human well-being over profit maximization. The failures of neoliberalism should push societies to reclaim the role of the state in ensuring equitable access to healthcare, education, and dignified work-because markets should serve people, not the other way around.

[@TreetopTreaties]

Nice ai response

[@patrickvernon4766]

Why is the same class that benefits from neoliberalism the same people having a discussion on its replacement or its criticism? Falls flat

[@RegalKamdem]

NEOLIBERALISM > COLLAPSE OF DEMOCRACY & PLOUTOCRACY > SEVERE TOTALITARISM

[@JimArdal]

Seems to be what has happened

[@BobbbyJoeKlop]

The Road to Serfdom was not a warning; for most, it was a roadmap to it.

[@subirdas7665]

Read Karl Marks

[@vladdumitrica849]

The USA, England, France, Germany, are oligarchies, like any other republic. In a democracy, in addition to free voting and freedom of expression, decisions should be in the interest of the majority, except in cases protected by the constitution. Oligarchies are also diverse, depending on the interests of the oligarchs, which can be convergent or divergent. The latter lead to a society in which there is freedom of opinion and free speech, but decisions do not take into account the interests of the majority of citizens. A competitive, market economy, in which oligarchs compete with each other, will bring a society with democratic aspects, because each oligarch seeks to have his rights respected, so that none of them has undeserved advantages due to politics, which would bankrupt him.

[@sirpancho]

It is painful to hear to Ms Paola Romero....it is a mystery why she is at LSE. It is an amazing sample of philosophy, logic and scientific method, shrinked to propaganda...."a theory of limitation of power" ...that is an elegant way to name propaganda....As expected, no mention to the power of oligarchs that usually fund neoliberal electoral ventures...so no problem if the almost absolute power is exerted by "big fishes" or "fat cats". Prof. Samuel Gregg, in turn, offered a very interesting, informed and nuanced talk, a truly a academic approach with policy engagement

[@sirpancho]

Prof Samuel Gregg is right, because Rand is not an intellectual, she is a propaganda writer, the forebear of zombie neoliberalism