Xu’s statement serves to reinforce the viewpoint that neoliberalism’s greatest proponents were incorrect, e.g., Friedrich von Hayek…
March 25, 2012 § Leave a comment
According to Xibai Xu, Neoliberalism and Governance in China (Oxford, 2011), regarding the effects of neoliberalism: “…contrary to the expectation of many Western observers, economic liberalization has not led to political liberalization or democratization. Instead, it has transformed China into a highly unequal and divided society in which power and wealth are monopolized by a small elite class of party cadres and associates, while a large number of peasants and workers are deprived of land, employment, welfare and rights.”
Xu’s statement serves to reinforce the viewpoint that neoliberalism’s greatest proponents were incorrect, e.g., Friedrich von Hayek, arguing that economic freedom had to be wrested from control by government or suffer totalitarian rule, and Milton Freidman’s advocacy that economic freedom is a prerequisite to political freedom. China’s experience proves otherwise, and it is common knowledge in America that neoliberalist’s tendencies have served to concentrate wealth and power more so than at any time since the 19th century’s Gilded Age, a term coined by Mark Twain. And, now personal freedoms are under attack in America as neoliberal groupthink impacts political policy.