Uploaded January 2021 | Updated September 2026, 1 week ago
Neoliberalism explained is a term that has largely been used by the political Left as a derogatory slur to critique capitalism. Initially, it seems, Neoliberalism was an idea and project to transition toward a free market economy based off classical liberal economics. The problem is, however, the name Neoliberalism has been thrown around by the critiques to largely describe today's dominant economic system.
This is no surprise given the fact people claim we live under capitalism and somehow think we're living under a capitalist system. There have been countless myths thrown around by the Left such as the claim that deregulation caused the banking crisis or that capitalism was responsible for the boom and bust cycle of the 19th and 20th centuries and as I have explained, it is in socialists self-interest to label this as capitalism so they can blame our problems today to try and garner support for socialism.
As I've pointed out, politicians often speak a good word like Thatcher had about capitalism and the free market, but that doesn't necessarily mean to say that what people saw was a free market in the 1980s or a transition to such an economy. Thatcher was under pressure from members of her own party and society.
So, as folk may question: 'what is Neoliberalism,' my answer would be, corporatism, otherwise known as cronyism. The reason for this is because it has become widely popular to label the current economy we're living under as Neoliberal as you can hear by the proof of what led to the financial crisis of 2008. Little do folk realise, that was to blame on Keynesianism, which is really just a fancy name for corporatism.
You can hear from a young lassie's mouth that capitalism is in relation to prices being determined by the laws of supply and demand and that is how it goes with everything else from money, to interest rates, etc. That's quite the concession, because if she is aware of that, she must be aware of the fixing of interest rates.
An Introduction: (0:00)
Regulation Argument: (2:51)
The Banking Crisis: (4:52)
Entrepreneurship: (11:49)
Saying and Doing: (14:02)
A Concession: (18:21)
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Neoliberalism explained is a term that has largely been used by the political Left as a derogatory slur to critique capitalism. Initially, it seems, Neoliberalism was an idea and project to transition toward a free market economy based off classical liberal economics. The problem is, however, the name Neoliberalism has been thrown around by the critiques to largely describe today's dominant economic system.
This is no surprise given the fact people claim we live under capitalism and somehow think we're living under a capitalist system. There have been countless myths thrown around by the Left such as the claim that deregulation caused the banking crisis or that capitalism was responsible for the boom and bust cycle of the 19th and 20th centuries and as I have explained, it is in socialists self-interest to label this as capitalism so they can blame our problems today to try and garner support for socialism.
As I've pointed out, politicians often speak a good word like Thatcher had about capitalism and the free market, but that doesn't necessarily mean to say that what people saw was a free market in the 1980s or a transition to such an economy. Thatcher was under pressure from members of her own party and society.
So, as folk may question: 'what is Neoliberalism,' my answer would be, corporatism, otherwise known as cronyism. The reason for this is because it has become widely popular to label the current economy we're living under as Neoliberal as you can hear by the proof of what led to the financial crisis of 2008. Little do folk realise, that was to blame on Keynesianism, which is really just a fancy name for corporatism.
You can hear from a young lassie's mouth that capitalism is in relation to prices being determined by the laws of supply and demand and that is how it goes with everything else from money, to interest rates, etc. That's quite the concession, because if she is aware of that, she must be aware of the fixing of interest rates.
An Introduction: (0:00)
Regulation Argument: (2:51)
The Banking Crisis: (4:52)
Entrepreneurship: (11:49)
Saying and Doing: (14:02)
A Concession: (18:21)
*MUSIC:*
Title: After rainy day
Artist: Zura
Genre: Jazz & Soul
Download / Stream / Support:
soundcloud.com/zurafendi-rosli/zura-after-rainy-day-no-copyright-music-jazzsoulinstrumental
♪♫Zura / after rainy day //
youtube.com/watch?v=d9hfyscTeNc
*No Copyright | Calm Jazz Music | Background Chill |*
youtube.com/watch?v=DVEUcbPkb-c&t=1957s
*SOCIAL MEDIA:*
• Facebook: facebook.com/LibertarianViewsScottyM
• Parler: parler.com/#/user/LibertarianViewsScottyM
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![Why Subsidies Dont Work: Government Failure in Economics
In this video I explain why subsidies dont work which is a common problem with government failure in economics. Socialists and quasi-socialists alike fail to comprehend capitalism, that it is not a system of guaranteeing business success and more often than not, it is a result of their government intervention through regulation, taxation and subsidies that result in business failure, which leads them to believe that capitalism is somehow failing, therefore, capitalism needs to be bailed out.
This is an erroneous argument as it ignores what capitalism is. Capitalism is not about an over-regulated private sector nor is it relative to government taxation. As history proves and as I explain, the internal improvements [corporate subsidies] were being financed by heavy protectionist tariffs imposed on the market. The evidence stacked against the subsidies illustrates why subsidies dont work.
Throughout the 19th century, whether it was the turnpike industry, steamship industry or even the railroad industry, you would see hundreds of private companies that took on the corporate subsidies by government going under facing bankruptcy. I have noted numerous times about the North Pacific Railroad company and James J. Hill, you can also check out Burt Fulsoms excellent talk on the failure of Edward Collins steamship company and why Cornelius Vanderbilt gave him a showing up here:
https://www.youtube.com/watch?v=RsCptN_F1OA&t=8s
Time and time again, folk, regardless of whether you talk about the lead up to the Sherman Antitrust Act of 1890, the Great Depression of 1929, or even the Banking Crisis of 2008, you will see why subsidies are destructive. It was the fault of the government subsidies that resulted in bad banks getting away with legally protected fraud because the government through subsidies took away the risk of the creditors.
Risk is something important, as are losses which play an important role in the economy as profits do. I have explained in detail for why this is.
You can also check out my explanation on the banking crisis of 2008 for a better understanding on why it happened here:
https://www.youtube.com/watch?v=FCHahZ2e6kU
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