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Jack Rasmus
Clarity Press

The Scourge of Neoliberalism: US Economic Policy from Reagan to Trump

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AuthorJack Rasmus
PublisherClarity Press
PublishedJun 08 2021
Book FormatPaperback
ISBN-139781949762037
Dimensions8.9 X 5.9 X 1 inches
Weight 0.75 pounds
BISAC
CategoriesHistory > United States - 20th Century
LanguageEnglish

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Book Description

While the capitalist system has undergone numerous restructurings throughout its history, the capitalist elites' purpose in elaborating these changes has remained the same: to restore and/or extend their hegemony over domestic class and global challengers. The current systemic designation, operative since 1978, is neoliberalism, deployed to obfuscate what in actuality is US imperialism and domestic class warfare. The Scourge of Neoliberalism describes the origins and evolution of the specifically American form of Neoliberalism. Its expansionary phase--from 1978 to 2008--was disrupted by the global crash and crisis of 2008-09 and was only partially restored by the Obama regime thereafter. Trump's attempt to resuscitate Neoliberalism has led to the emergence of a new, more aggressive and virulent form which, despite some gains, is nonetheless a destabilizing policy regimen destined to break down with the next global economic crisis, which is likely occur by 2020. The political consequences of US neoliberal policy evolution and restoration efforts have led, on the one hand, to the breakdown of government institutions, the decline of mainstream political parties, the atrophy of democratic practices, rights and values, and attacks on civil liberties, and on the other to the embedding of the Neoliberal credo that business tax cuts create jobs, free trade benefits all, low interest rates generate investment, entitlement programs are the cause of government deficits, markets are always efficient, recessions are caused by external shocks to an otherwise stable equilibrium system, and similar empirically unverifiable propositions. In describing the evolution of Neoliberal policies from Reagan through Clinton, the Bushes, Obama, and Trump presidencies, Rasmus shows how they have played a central enabling role in the financialization of the US capitalist economy, in its ever-growing income and wealth inequality gaps, and in the increasing polarization of US society and polity.

Author Bio

A professor in the Economics and Politics departments at SMC, Rasmus focuses on economic inequities and is the author of Epic Recession and Global Financial Crisis.

Prof. Jack Rasmus can address the news issues revolving around the global recession and U.S. financial crisis, current economic and political policies of corporate America, and the causes and consequences of growing income inequality. He teaches courses on Contemporary Economic Policy Analysis, Economic Thought, U.S. Economic History and Labor Economics

A former journalist, Rasmus has served as an economist and analyst for several global companies and has roots in the labor movement; he was a local union president, business representative, contract negotiator, and organizer for several labor unions.

Source: Saint Mary's College California

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