This video is the third session of the Transnational Institute's "Fractures" internationalist teachings. The session focuses on whether neoliberalism is still a dominant force globally, exploring its evolution, challenges, and implications for working people, particularly in the context of the rise of state capitalism and the far right. The discussion uses polls to gauge audience perspectives and incorporates insights from several experts.
The speakers in the video suggest understanding neoliberalism in four ways:
As a historical era: This perspective frames neoliberalism as a specific period in history with a discernible beginning and end. The debate centers on whether that era is concluding or continuing.
As a bundle of policy ideas: This approach focuses on a list of specific neoliberal policies (e.g., deregulation, liberalization, privatization). The question becomes whether these policies are being implemented, rolled back, or modified in different contexts, rather than whether neoliberalism as a whole is over.
As a mode of self-understanding: This perspective examines neoliberalism as a set of personal attitudes and behaviors (e.g., excessive focus on individual success). It’s less about the overall system and more about how individuals internalize neoliberal values.
As an intellectual movement: This view emphasizes neoliberalism as a coherent body of thought and an active political movement with proponents who have adapted their strategies over time. The debate here involves analyzing the ongoing influence and evolution of this intellectual and political current, which may involve shifting alliances and strategies.
These different understandings influence the debate about neoliberalism's continued relevance because they lead to different conclusions about its current status. If viewed solely as a historical period, its continuation might be debated based on its temporal boundaries. If seen as a set of policies, its persistence would depend on the prevalence of those policies. As a mode of self-understanding, its prevalence would hinge on individual mindsets. As an active intellectual and political movement, its continuation is a question of the power and influence of its proponents' ongoing actions and adaptations. The video suggests that the fourth understanding, as an intellectual and political movement, is particularly relevant in explaining its ongoing influence even as specific policies may change or be challenged.
The speakers explain the alliance between neoliberalism and the far right as a pragmatic joining of forces against a common enemy: the progressive left. In the 1990s, many on the right feared that globalization was being co-opted by progressives (environmentalists, anti-racists, feminists). This fear created a need for a unified counter-force. Neoliberals, primarily interested in economic freedom and capital security, found common cause with the far right, whose focus is on ethnonationalism, and anti-left sentiment. Both groups perceive the left as a threat to their respective agendas. This alliance, while seemingly unnatural, is driven by a shared objective: to oppose the left and maintain existing power structures.
Potential fractures within this alliance that progressive movements can exploit include:
By highlighting these contradictions and exploiting the inherent tensions between the economic and social agendas of the two groups, progressive movements can work to weaken the alliance and create opportunities for more inclusive and equitable policies.
The key arguments presented regarding the role of state capitalism highlight its complex and contradictory nature. While not presented as a direct replacement for neoliberalism, its rise is seen as a significant shift in the global economic landscape, particularly noticeable since the 2008 financial crisis and the COVID-19 pandemic.
Key Arguments:
Potential Benefits for Working People in the Global South:
Potential Risks for Working People in the Global South:
The speakers emphasize that democratic control and accountability are crucial to harnessing the potential benefits of state capitalism while mitigating its inherent risks. A transformative industrial policy that prioritizes social development, environmental sustainability, and collective needs over private accumulation is advocated as a crucial alternative to exploitative models.
The speakers offer a multi-pronged approach to challenging big tech's power and influence, emphasizing the need for a combination of strategies and tactics at various levels:
Strategies and Tactics:
The Role of Community-Based Alternatives:
Community-based alternatives are presented as essential complements to broader political and regulatory strategies, though not sufficient on their own. They play several crucial roles:
The speakers strongly advocate for a combined strategy: combining political mobilization, regulatory change, and the creation of community-based alternatives. They emphasize the importance of building broad alliances and utilizing multiple approaches to effectively counter big tech's power and influence.
