Sam Tollitt discusses the definition of neoliberalism and explains what relationship this ideology and programme has with the wider capitalist system.
It is common on the Left to hear people referring to the problems of ‘neoliberalism’ or ‘neoliberal capitalism’. This concept is often mentioned in contrast to Keynesianism, government regulation, and the call for a ‘kinder’, ‘nicer’, ‘responsible’ capitalism.
In the latest from our series on the “Myths of Marxism”, Sam Tollit explores the history behind the rise of neoliberal ideas and policies, and explains how neoliberalism is not simply a ‘nasty’ form of capitalism – it is the distilled essence of the capitalism system.
A return to Keynesian policies of taxing the rich and government spending will not be enough to address the ongoing crisis of capitalism. We need a socialist revolution.