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How America got rich and lost its morals 

Published : Tuesday, 10 September, 2024 at 12:00 AM  Count : 393
Rajeev Ahmed
The United States loves a good story, especially one where it casts itself as the noble hero: the defender of freedom, the land of opportunity, the place where anyone can make it big if they just pull themselves up by their bootstraps. But if we take a closer look, particularly through the foggy lens of neoliberalism, we might see a slightly different picture-one where a significant chunk of society has been led down a moral back alley with nothing but a wad of Monopoly money in their pocket and the vague promise of "freedom."

The U.S. didn't just stumble into neoliberalism, though. It carefully cultivated this ideology over time, using it to become the most powerful neo-colonial power after World War II. Along the way, it also created a delusional deep state-yes, that deep state, but more on that later-to ensure neoliberalism's stranglehold on the country's future. So, how did this happen? And more importantly, how can it be fixed without needing a sequel?

Neoliberalism, in its early days, wasn't the slick, suit-wearing corporate honcho it is today. It started as a nerdy intellectual rebellion against what was then the dominant economic thought: Keynesianism. Back in the 1930s, Keynesian economics was all about getting the government involved-spending money during recessions, regulating markets, ensuring people didn't starve in the streets. Basic stuff, really.

But to a certain group of free-market enthusiasts-like Friedrich Hayek and Milton Friedman-this government intervention was a horror story. They believed that too much government was a slippery slope toward tyranny and, worst of all, communism. And so, they brewed up something new: neoliberalism, the idea that free markets should rule the world, governments should step aside, and everything would be hunky-dory as long as billionaires were free to do billionaire things.

But neoliberalism didn't go mainstream right away. It needed the right political climate to flourish. Enter the 1970s: stagflation (where you get inflation and unemployment together, like a bad economic sandwich), oil shocks, and general confusion about how to run a modern economy. People were ready for something new. Cue Ronald Reagan and his buddies who, in 1980, started selling neoliberalism like it was a hot new fitness regime. Lower taxes, deregulate everything, privatize the heck out of public goods, and trickle-down economics would shower everyone in prosperity. Spoiler: it didn't.

After World War II, the U.S. emerged from the rubble of Europe like a buff, victorious hero-half capitalist, half savior, all winner. But here's the twist: unlike the old-school colonial powers (the Brits, French, etc.) who needed armies and navies to maintain their empires, the U.S. figured out how to do it with economics. Neoliberalism, it turned out, was the perfect tool for a new kind of colonialism-neocolonialism, if you will.

Domestically, the deep state has helped make the U.S. one of the most unequal countries in the world. As of 2021, the top 1% of households owned 32.3% of the wealth, while the bottom 50% barely held onto 2.6%. And yet, every year, politicians argue about whether raising the minimum wage by a few bucks might "hurt the economy." Spoiler: the economy is already hurt-just not for the folks at the top.

Lobbyists-essentially the deep state's PR team-spent over $4 billion in 2022 alone, ensuring that corporate interests remain safe and sound. Meanwhile, public services like healthcare and education continue to crumble. Neoliberalism has essentially turned the American Dream into the American Ponzi Scheme, and only a few are cashing out.

Now that we've painted this lovely picture of moral decay, economic exploitation, and delusional deep-state shenanigans, the big question is: how does America fix it? Well, the answer might be simpler than you think, though it's about as likely to happen as a cat organizing your sock drawer. But let's be optimistic for a second.

Neoliberalism thrives on inequality, so let's start by cutting it off at the knees. Universal healthcare, affordable housing, and a robust welfare state aren't radical ideas-they're just basic human decency. The U.S. could take a leaf from countries like Norway, which have managed to balance capitalism and social welfare without turning into authoritarian hellscapes (despite what neoliberalists might warn).

The corporations have had their fun. It's time to take away their toys. Reforming campaign finance laws, overturning Citizens United, and regulating monopolies would go a long way toward giving power back to the people-where it was supposed to be all along.

While it sounds like a plot from a bad action movie, reducing the power of unelected officials who serve corporate interests isn't that far-fetched. Increasing government transparency and reducing military interventionism are good places to start. After all, the U.S. doesn't need to play global hall monitor anymore.

The future doesn't have to be a neoliberal dystopia. Worker cooperatives, stronger labor unions, and public ownership of key industries can make the economy work for everyone, not just the Jeff Bezoses of the world. Plus, we'd all sleep better knowing our hospitals aren't run like Amazon warehouses.

The writer is Editor of Geopolits.com



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