126 — Neoliberalism

Boston Basic Income

Neoliberalism is often portrayed as an enemy of the left. But self-proclaimed neoliberals might tell you that their goal is to harness the power of markets for the good of humanity. That doesn't sound so bad. Yet neoliberal ideology is often associated with a failure to promote human well-being. Could it be that something is missing in the neoliberal understanding of how to use markets to humanity's advantage? Could that something be basic income?
As compared with classical liberalism, which advocated a hands-off approach to the markets, neoliberalism recognizes the role of government institutions in setting parameters and constraints within which the market operates.
Some people worry that basic income is a neoliberal "Trojan Horse" designed to trick the left into embracing markets. The point of basic income is indeed to help the markets work for the benefit of the people. So it could certainly be argued that basic income is compatible with the spirit of neoliberalism. But is it really a trick? Is there actually anything nefarious going on?
For optional listening this week, we have a short 2019 episode from NPR's Planet Money: Indicator Podcast entitled, "Who Is The Neoliberal Shill Of the Year?"
Previous related Boston Basic Income topics have included:
BBI #9: Inequality
BBI #40: Socialism vs. Capitalism
BBI #74: Say's Law
Original YouTube recording
Image from The Neoliberal Project