{"resolved":true,"match_type":"uuid","source_type":"original_book","book_id":"2619284f-c364-4de3-bdf4-82f768dbc1c5","title":"Democracy and Other Neoliberal Fantasies Communicative Capitalism and Left Politics","author":null,"edition":null,"publisher":null,"year":null,"isbn":null,"requested_by":"printed_page","book":{"source_type":"original_book","book_id":"2619284f-c364-4de3-bdf4-82f768dbc1c5","id":"2619284f-c364-4de3-bdf4-82f768dbc1c5","uuid":"2619284f-c364-4de3-bdf4-82f768dbc1c5","title":"Democracy and Other Neoliberal Fantasies Communicative Capitalism and Left Politics","normalized_title":"democracyandotherneoliberalfantasiescommunicativecapitalismandleftpolitics","author":null,"edition":null,"publisher":null,"year":null,"isbn":null,"isbns":[],"parsed":true,"ai_readable":true,"document_type":"book","page_count":229,"navigation_url":"https://workshop.closeclaw.top/ai/book/2619284f-c364-4de3-bdf4-82f768dbc1c5","title_url":"https://workshop.closeclaw.top/ai/title/Democracy%20and%20Other%20Neoliberal%20Fantasies%20Communicative%20Capitalism%20and%20Left%20Politics","fixed_page_url_template":"https://workshop.closeclaw.top/ai/book/2619284f-c364-4de3-bdf4-82f768dbc1c5/page/{printed_page}","path_api_url_template":"https://workshop.closeclaw.top/api/ai/book/2619284f-c364-4de3-bdf4-82f768dbc1c5/page/{printed_page}","read_url":"https://workshop.closeclaw.top/api/ai/read/2619284f-c364-4de3-bdf4-82f768dbc1c5","page_url":"https://workshop.closeclaw.top/api/ai/books/2619284f-c364-4de3-bdf4-82f768dbc1c5/page","search_url":"https://workshop.closeclaw.top/api/ai/books/2619284f-c364-4de3-bdf4-82f768dbc1c5/search"},"page":{"printed_page":52,"pdf_page":62,"physical_index":62,"physical_index_base":0,"printed_page_status":"recognized","page_sha256":"c8ac0972d268fb2e6aff0e1f8bb311f41f1921d59196a1f8901a94814d2bdb72"},"chapter":"Comunicative Capitalism & Left Politics","content":"The key principles of neoliberalism were formulated by a group of economists, philosophers, and historians who gathered around the Austrian philosopher Friedrich von Hayek. 7 In 194 7 they founded the Mount Pelerin Society (the name comes from the Swiss spa where they first met). Their commitment to the role of competitive markets in securing freedom vehemently opposed both Marxist theories of centralized state planning and Keynesian polices of state intervention in the economy.\n\nOver subsequent decades, neoliberalism remained a marginal economic movement, far outside mainstream Keynesian's commitment to regulatory policies designed to stabilze capitalism and protect citizens from its worst excesses. Nonetheless, as they combated the hegemony of Keynesianism in academic and policy circles, neoliberals slowly gathered support from financial and political elites. A crucial element of this success was their establishment of alternative institutions. They created \"a huge international network of foundations, institutes, research centers, publica� tions, scholars, writers, and public relations hacks\" who developed, packaged, and pushed neoliberal doctrine.8 In 1974, von Hayek received the Nobel Pri�e in Economics. Two years later another key member of his circle won the prize as well, the neoliberal economist Milton Friedman, the primary figure in the Chicago School of economics.\n\nNot until the elections of Margaret Thatcher in the United Kingdom in 1979 and Ronald Reagan in the United States in 1980 did neoliberal ideology come to dominate economic policy.9 The preceding decades had been the heyday of l(eynesian policies wherein the role of the state was to guide the economy and distribute risk so as to shield the inevitable losers in a capitalist market. One such policy endeavors to ensure the stability of production by guaranteeing consumption, either by the state or private consumers. For Keynesians, a living wage is not just a moral issue. It's an economic one, a way to guarantee consumers' purchasing power and stabilize production . . Michael Lebowitz explains: \"Increased wages would increase aggregate demand, stimulate job creation and new investment . . . mass consumption, it was argued, is necessary for mass production. H.owever, to realize these benefits the market itself would not sufice-state policies and micromanagement were seen as critical:' 10 The Keynesian state protects production through oversight and intervenes in order to stimulate demand. The market by itself can't guarantee continued productivity.\n\n52\n\nTWO","previous_page":51,"next_page":53}