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David Walker's avatar

Milanovic reveals the shock of several friends when their preferred policies did not cure all known diseases.

Tough luck for them. The social world has often made fools of people who thought they had it all figured out.

But I doubt this shows that some ideology called "neoliberalism" has failed – if only because that the fact Milanovic's discussing (that understanding of the social world changes and evolves) seems itself to be a key element of quite a few versions of "neoliberal" world-view.

Advanced nations are and should be engaged in a long, continuing program of what Karl Popper called "piecemeal social engineering", where people and governments attempt to usefully improve our understanding of the best mix and the most effective elements of market, cultural and government action. This means that at any given point, aspects of the prevailing social recipe will look they're failing. Much of the time, those aspects will be.

Yet we will discard the failures and keep the wins. And the net effect will be that after some decades we will look back and marvel at how far we have come.

Call this neoliberalism or call it something else; it doesn't matter.

But making constant adjustments to this societal framework is not the program's defeat; it's the program's operation.

Note: As I've come to expect of discussions about "neoliberalism", the piece is mostly empty of specifics. (It's possible that Milanovic just means "neoconservatism", especially since he opens with an image of Margaret Thatcher. Who can tell, at least from this piece?) But if Milanovic believes, for example, that migration needs to be scaled back to preserve social harmony in developed nations, he can and should make his case. If and when he wins the debate, I'm guessing that this too will become part of "the neoliberal consensus".

Evan Hadkins's avatar

The alternative waiting in the wings after neoliberalism is care ethics.

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