What is Neo-liberal Capitalism?
For neo-liberals, `profit is the God’, not the public good. Capitalism is not kind. Plutocrats are not, essentially, or even commonly, philanthropic. In Capitalism it is the insatiable demand for profit that is the motor for policy, not public or social or common weal, or good. With great power comes great irresponsibility. Thus privatised utilities, such as the railway system, health and education services (schools, trade/vocational education, universities), free and clean water supply are run, just as much as factories and finance houses, to maximise owners’ and owners’ and shareholders’ profits and rewards, rather than to provide a public service (1). The current globally dominant form of Capitalism, neo-liberalism, requires that the state establishes and extends the following policies: 1. The control of inflation by interest rates, preferably by an independent central bank. 2. The balancing of budgets, which should not be used to influence demand—or at any rate to stimulate it. 3.
