Post-neoliberals are having a moment. If it continues for too long, the result could be a less productive, less resilient, more warlike economy.
by Daniel W. Drezner at Reason: The concept of neoliberalism, which advocates for policies like deregulation and trade liberalization, has fallen out of favor in Washington, D.C. Post-neoliberalism, which emphasizes resilience over efficiency, has gained traction due to events like the China shock and the COVID-19 pandemic, but post-neoliberal policies could produce a Western economy that is both less efficient and less resilient.
“Given the various shocks hitting the global economy over the past decade, it seems intuitively obvious to focus more on resilience. But what if this intuition rests on a false premise? The claims of a ‘post-neoliberal’ paradigm rest on the belief that there is a tradeoff between resilience and efficiency, between strategic autonomy and globalization. But it seems increasingly clear these values are not mutually inconsistent. The best hope for economic resilience might come not from post-neoliberal policies but from neoliberal ones.”
More here.
