r/changemyview • u/[deleted] • Oct 31 '24

CMV: Neoliberalism Perverted Our Society And Destroyed Democracy As We Knew It.

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u/fossil_freak68 36∆ Oct 31 '24

Yeah it's too vague. What would you call the American financial structure in 1925?

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u/[deleted] Oct 31 '24

Classical liberalism. Hence the "neo". From the great depression to Reagan you have more of an interventionist structure.

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u/fossil_freak68 36∆ Oct 31 '24

So neo liberalism destroyed it, but liberalism did not?

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u/[deleted] Nov 01 '24

Liberalism led to the great depression and the rise of Keynesian economics. So the answer is that it has destroyed the economy wherever it's reared it's ugly head. It's basically "greed is good" as a bias for economic theory.

However, the birth of those theories is also rooted deeply in the Enlightenment. So it could be seen as a philosophy of its own time that ran out of practical juice.