Essay heading: Neoliberalism

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Philosophy

 

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Date added:

March 25, 1998

 

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14 / 3765

 

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For neoliberals a 23-hours economy is already unjustifiable: nothing less than 24-hours economy will satisfy them. They constantly expand the market at its margins. The emphasis on property, in classic and market liberalism, has been replaced by an emphasis on contract. In the time of Adam Smith, property conferred status in itself: he would find it strange that entrepreneurs sometimes own no fixed assets, and lease the means of production...
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In the time of Adam Smith, property conferred status in itself: he would find it strange that entrepreneurs sometimes own no fixed assets, and lease the means of production. Contract maximization is typically neoliberal: the privatization of the British railway network, formerly run by one state-owned company, led to 30 000 new contracts...
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