Political Economy post Neoliberalism
If any modern solution could eliminate the neoliberal targets by ultimately regulating the excessive government involvement in the free market; hence, a majority of business people expect the Corona pandemic to be the solution. Without a doubt, the same was the case during the period of the global financial crisis, which people expected to completely change everything in macroeconomic strategies and financial control. Now the Country is in a devastating state, Trump’s aggressive fight towards the presidency, the pandemic, and the post-pandemic economic disaster expected. Basically, there may be vast opportunities when all these factors merge, mostly the expected change in power in the coming elections. However, thriving in this new environment will depend on an individual’s newly acquired skills, particularly in the field of political economy strategy. This means that our thinking should not be limited to how the world will be after the upcoming event, but broader by analyzing the policies that have been helpful in a distinctly different environment exposed to the same problem.
In essence, this way of evaluating the future provides a menu of choices and may provide a direct solution even to the problems that lie outside the thin scope of neoliberalism. “Neoliberalism is basically the inclusion of known solution like less government involvement and more market”(Fligstein and Vogel, 2020). However, we acknowledge that there are multiple paths that lead to economic success and multiple measures that remove the economic crisis in different environments. Then free market idea has been for many years toxic in that it restricted mindful government involvement in businesses. Therefore, by recognizing that more than one path leads to a good outcome, we are able to acknowledge the complex nature of the real-world in the sense that different places are directed by particular laws, methods, and norms. Hence we are free to accept policies that are contradicted in the context of neoliberalism.
Reference
Lifstein, N, and Vogel, S. (2020). Political Economy After Neoliberalism. Retrieved from http://bostonreview.net/class-inequality/neil-fligstein-steven-vogel-political-economy-after-neoliberalism