We need a myth March 13, 2012 at 3:54 pm
Jonathan Hopkin has an excellent post discussing neoliberalism and why it isn’t a dead idea yet. The final paragraph is especially insightful:
The problem is that academic political economists know a lot more about the historical record than the average voter does, and there is no point in assuming that voters are going to come to the same judgement – they don’t have time to read Quiggin, Crouch and Krugman (alright, a few read Krugman). Voters never understood Keynesianism, so why would they understand neoliberalism? To achieve change, we need a mythical story about social democracy that sounds as good as the mythical free market – a vehicle for aspiration of a better life. If nobody has ever explained to voters how a better life doesn’t always come through a market, than we can’t expect neoliberalism to die the death it deserves.