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Saturday, March 9, 2013

When neoliberalism exploded

When neoliberalism exploded

HOW DID IT HAPPEN? In the early 1970s, Western governments, academia, and the media understood the relationship between the state and the market according to the same liberal consensus that had been in place since the end of World War II. During what is commonly called the “golden age of capitalism,” government, capital, and labor had reached the uneasy agreement that markets produced social ruin when left to their own devices.

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