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Neoliberalism: Free trade and globalization is good, state ownership and state economic investment bad. Germany was certainly less damaged by neoliberalism (wh
by js8 3y ago
Neoliberalism: Free trade and globalization is good, state ownership and state economic investment bad.
Germany was certainly less damaged by neoliberalism (which is an ideology, actual practice might be different) than the US and UK, who were the major proponents of neoliberalism. I think the reason was that Germany has tripartism, which makes union-industry negotiations less antagonistic.
But, the Eurozone was built according to neoliberal principles (and associated austerity policies), and the results were catastrophic for the EU. That's why we (I am Czech) need to snap out of it.
Ha-Joon Chang and George Stiglitz describe the problems of neoliberalism as a strategy of economic development in their books.