Neoliberalism – the economic doctrine that brought us austerity and privatization – has been discredited across the globe. It’s a dying creed. But it’s not yet dead. Because its rich and powerful supporters are refusing to go down without a fight. And the start of the new Brazilian president‘s time in office shows that it’s adapting to new circumstances, and even evolving into something more sinister.
The doctrine has contributed to falling wages, rising inequality, homelessness, and even hunger. And experts have exposed its ‘benefits’ as the empty ruse they always were. As Prof David Harvey argues in his powerful book A Brief History of Neoliberalism, it never aimed to serve the public interest; instead, its purpose was always to reassert the power of ruling elites around the world.