End Neoliberalism Now

I find it interesting that neoliberalism is very much a part of our current government policies. People may be unaware of it but it affects their daily lives. The business sector is dictating the prices of the goods and commodities and we have to adjust our budget and way of living to be able to keep up with our families’ needs. The government and politics have become commercialized and rely on the support of businessmen who have vested interests in what they do.

Debt lies at the center of neoliberalism. Debt is not just about money or capital that a person owes. It is used to govern and control the public who are indebted to the corporations. We can see here how the business sector governs the society. Political rationality is the condition of possibility and legitimacy of its instruments. Political rationality legitimizes what the state is doing, that is to turn over the rule or give governance to the private sector so that they can control the economy.

Government practices provide the tools needed for neoliberalism to thrive in the society. Neoliberalism attacks the very essence of democracy – its principles, practices, and institutions; which is supposed to be ruled by the people. Neoliberalism is anti-democratic since it undermines the basic elements of democracy as the control now goes to a few people in the private or business sector who have the power to shape changes not just in the economy but ultimately in every aspect of society such as education, labor, and environment.

Political rationality is a mode of reason which influences and legitimizes government actions and practices. Neoliberalism is taking over democracy by letting economic growth define the state’s programs and actions. Governance is taken away from the state and is given to the private sector. Policies such as privatization, deregulation, and free trade are implemented to enhance competition and capital value in the economy. When this happens, there is no longer a rule of the state in principle and the interest of the majority are given up in favor of the few.