Summer class POL 241 BLOG POST chap 1 "Neo-liberalism as Creative Destruction"

David Harvey, "Neo-liberalism as Creative Destruction"

Quote:

“Neo-liberalism has not proven effective at revitalizing global capital accumulation, but it has succeeded in restoring class power”

Meaning:

 For Harvey, neo-liberalism is a project to achieve the restoration of class power in the wake of the economic. He contends that we can interpret neo-liberalization either as a Utopian project to realize a theoretical design for the reorganization of international capitalism or as a political project to re- establish the conditions for capital accumulation and to restore the power of economics.  Harvey argues that neo-liberalism is an ideological tool and economic formula used by the upper class to re-dominate lower class. However, neo-liberalism is not a successful economic stimulant, but a destructive one.

Chosen:


I chose this quote because it gives a clear insight of neo-liberalism. Neo-liberalism had destroyed pre-existing organization and institution on a global scale; through the usage of privatization, financialization, crisis management and state redistribution. Moreover, neo-liberalism took great effort and time to implement globally, involving an emphatic turn.

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