Is Neoliberalism Doomed?

Freeing the individual and his or her consciousness from the grip of large, stultifying institutions; privileging disruption over order; celebrating cosmopolitanism—and multiculturalism—and the unexpected sorts of mixing and hybridities that emerge under these regimes: All of these beliefs, each of which marinated for years in the political and culture milieux inspired by the New Left, furthered neoliberal aspirations and helped to make it into a hegemonic ideological force.

Gary Gerstle, The Rise and Fall of the Neoliberal Order

Gerstle believes that the neoliberal order is doomed because if it weren’t, the rhetoric of Bernie Sanders and Donald Trump wouldn’t be successful. He says that such a massive and open dislike of the neoliberal rhetoric as witnessed by the support of Sanders and Trump speaks to the weakness of the neoliberal order. I don’t agree, however. I believe that neoliberalism long moved past the stage when it needed a general consensus. In the hierarchy I spoke of yesterday, it doesn’t matter what the masses on the lowest two rungs of the ladder think. It used to matter but that’s all gone. As long as the two highest slots in the hierarchy are with the program, that’s enough.


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