Trumka Takes on the ‘Neoliberalism’ that Broke U.S. EconomyIn Tuesday’s live Web chat, AFL-CIO President Richard Trumka talked about what we need to do to fix our economy in both the short term and the long term—and touched on a vital, too-infrequently discussed issue: the need to end the stranglehold neoliberal economic thinking has on our politics.
Spurred by Milton Friedman and other economists, the neoliberal agenda is based on the radical principle that it’s markets, not people, that matter most. By nature, the neoliberal principle is hostile to collective bargaining, public regulation and all manner of ways to leverage community power to balance out the power of wealth. Trumka sums up Friedman’s poisonous political philosophy:
He believed that anything that got in the way of the free market was something that was bad and should be eliminated. Any regulation on business is bad, so get rid of it; any tax on business is bad and distorts the marketplace, get rid of it. A union is bad and distorts the marketplace, so you have to get rid of it.
For the last 30 years, that’s the system that we’ve had here. It brought us to this crisis.
Friday, December 18, 2009
This is an excellent example of a representative of the Producer Class describing the evils of Predator Class economics