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'Neoliberal capitalism' has contributed to the rise of fascism, says Nobel laureate
(www.abc.net.au)
this post was submitted on 12 Aug 2024
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What specifically got called out was neoliberalism. While ordoliberalism was briefly called neoliberalism the general understanding of the term is "Whatever nefarious shit the Atlas network is currently up to". Things like conflating the free market with unregulated markets (which are anything but free), trickle-down economics, ludicrously excessive rent seeking behaviour, like say privatised pension funds, publishing ratings calling countries "nanny states" for having warnings on cigarettes because yes the tobacco lobby is very much part of that ilk, really the list is pretty endless: It's pure class war. War creates victims, those victims need handling, and misdirection of ire is a very convenient strategy, "It's not the billionaires who own everything who are at fault that you can't make rent, it's the immigrants".
It's not just Marx who is rotating in his grave, Adam Smith is very much spinning with at least the same RPM. It's after all his own work which gets abused by those people.
As to the more sensible liberalisms -- they largely got captured. The EU has a strong ordoliberal bent actually regulating markets ((it's in fact constitutionally a social market economy), but that neolib shit is still eating away at it and many people, even policy makers, can't really tell the difference.