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In Response (or in addition?) to Saqib's post

By RK
In his post Saqib said that "Capitalism is connected with more competition, business free from state meddling and free trade while neoliberalism suggests protectionist trade policies, corporations in bed with government, monopolies, and bailouts for the biggest businesses. So there seems be much difference."

Reading Harvey, these were definitely some of the thoughts that crossed my mind..especially the one about the difference between capitalism and neoliberalism, wherever that thin line is. However, as the reading progressed and Harvey demonstrated how certain changes in policy were brought about by neoliberalism and how they functioned in reality (which seemed quite different from what the theory of neoliberalism promised), it left me wondering if capitalism was in fact another rhetorical instrument being used to further the legitimation of the neoliberalist agenda?

What further springs to mind are the words of Milton Friedman, the economist who noted that the whole point of analysis was to confuse. I wonder if that is what the difference between the theory of neoliberalism and the practice of capitalism is about.

Comments

Saqib said…
That is my point exactly. "Capitalism" simply is a rhetorical device used to justify what are essentially state administered practices/policies that are inherently contrary to capitalism as it is socially understood. In my mind, the state will do what it needs to do and all it needs is an effective PR tool to keep the masses at bay. Capitalism works as a convenient excuse.
February 21, 2010 at 8:08 PM
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