Neoliberalism: The story of a big economic bust up | A-Z of ISMs Episode 14 - BBC Ideas

Neoliberalism... Dirty word? Or foundation of a healthy economy? The Economist's Anne McElvoy explores the meaning, definition and history of neoliberalism.

This video was made by Somethin' Else.

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#neoliberalism #neoliberal #economics

[jaz.sk]

this video has just made it 100 times harder to understand the concept

[codywalter]

Did this feel a bit like propaganda to anyone else?
This is a genuine question because I want to know if my biases are getting in the way of my understanding.
The video seems to address critiques of neoliberalism, but then seems to brush them aside and assert that the world couldn't be the amazing place it is today without neoliberalism.
Thoughts?

[lordguan]

To quote Luke skywalker in that awful alternate reality “amazing, every word of what you said was wrong.”

[andresfernandes]

At a time when the world needs sturdy, reliable journalism more than ever, why on Earth did the BBC decide it would be better to aim for "cute" and to not be taken too seriously? This absurd little video applies an airy, light-hearted tone to issues of critical importance to our planet. For somber coverage of life's true challenges, tune in to the Kardashians.

[jafi]

Is Austrian economics really the root of it? Weren’t they against central banks and even pro business interference? I get governments don’t operate on purely ideological grounds it’s just that when I think of the Austrian school I think of libertarians.

[lorenmiller]

Neoliberalism isn't just a term of abuse, no, it's a specific ideology. An ideology based on the economic pseudoscience of the Austrian School. It's an ideology which has devastated nations, society as a whole, and the natural environment of our planet. It's an ideology which has devastated lives. It is an ideology which seeks to commodify every human action, state of being, and relationship, by getting people to unconsciously accept ideas of business ontology and apply it to every part of their lives.

In short, Neoliberalism is a cancer which must be torn out by its roots, if humanity is to survive.

[Weazla-]

Obviously the BBC would give the most skewed attempt at a definition possible

[lilyanalopez]

How in the world did people obtain information from this?

[harrysilverwater]

Didn’t mention stagnant wages and the inequality gap even once! Good Job BCC!!

[alejorabirog]

Wow, this was not biased at all... (Sarcasm)

[cheese]

Hayek wasn’t a neoliberal he was an Austrian economist.

[Mowshun]

It became a 'dirty word' because it caused considerable damage to the poorest and most vulnerable and enormous financial benefit to the richest and most powerful, that we still suffer with today.

[yiwanye]

thank you Hayek for letting corporations eroding our every social, political, and cultural institutions, and inadvertently increase the gap of social inequalities.

[treasurelu]

A bit of a naive take on the phenomenon... it was not an 'option' to address 70s problems... it is constructed with the specific aim of disempowerment so as to facilitate exploitation. It is not a descendent of classic 18th c liberalism, it diametrically opposed its moral tenets.

[YTSqwid]

"Neo" means I don't like it? Thanks for telling me so. I thought I called it Neo because it was a clear departure from Embedded Liberalism. Where is the BBC's vaunted impartiality, now.

[MsZeitgeist]

Whoever gave Hayek a job at London School of Econ did humanity a giant disservice.

[Marc-uwlw]

The cheery background music hasn't aged well in Liz Truss' 2022

[expelleddux]

The thing is that neoliberalism is against bank bail outs

[charliemagdics]

Wtf, neo isn't used to signify that the concept sucks. I mean this in the definition of. the word (new), but also colloquially. For example, neoclassical economics (Smith etc) is not despised and thought of as worthless by economists, because its an importantb theory depsite its obvious flaws. Neoliberalism isn't liked by most because it sucks as an ideology/political philosophy .

[alvaradoac]

watched at 1.5 speed, if deregulation through neoliberalism was responsible for the financial crash of 2008, doesn't that kind of show it doesn't work out on a large scale