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After Empowering the 1% and Impoverishing Millions, IMF Admits Neoliberalism a Failure


After Empowering the 1% and Impoverishing Millions, IMF Admits Neoliberalism a Failure

Benjamin Dangl

Last week a research wing of the International Monetary Fund came out with a report admitting that neoliberalism has been a failure. The report, entitled, “Neoliberalism: Oversold?” is hopefully a sign of the ideology's death. They were only about 40 years late. As Naomi Klein tweeted about the report, "So all the billionaires it created are going to give back their money, right?"


Kind of like General Westmoreland's contrition for the Viet Nam occupation and escalation more than three decades too late.


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And just where did BHO come through? Univ. of Chicago!


Neoliberal Democrats Obama and Hillary, are meanwhile backing coups in Brazil, Venezuela and in other democratic countries for the 1%. They haven't read this IMF study yet. And the IMF hasn't got the word that growth makes what is a sustainability problem, worse.


Actual comment from Clinton supporter on the immense Robert Reich thread: "What the hell is neoliberalism? "


Negative impacts from socialist government failures have been contained within the borders of the failing state.

Negative impacts from neoliberal failures, the 2008 crash for example, have affected scores of nations around the globe. The next neoliberal induced crash will impact at least as many people and nations, but with much deeper, and painful consequences of much longer duration.


I see nothing on Puerto Rico---Rep and Dem are about to do to Puerto Rico what has been done to Greece-Detroit-and Flint------the economic hit men-----encourage debt then steal everything they have and make people slaves. And thank you Democracy Now for covering this issue----Hillary Clinton supports the republican plan----Bernie Sanders is against it.

These Wall Street investors knew these loans were risky-yet the investors will be the first paid and pensions will be last if paid at all. The real Obama and Clinton

And the former CIA installed leader of Chad was convicted of war crimes-----so when do Bush,Clinton and Obama go on trial??????


It not as if they did not know the consequences of their neo-liberal crap all along.Any number of people claimed this would happen. A number of people (See Naomi Klein) have written on it.

This is a very much a mission accomplished mea culpa. Very much like the lies that lead to the War in Iraq were followed up by "we got bad intelligence" from those in power who kew all along there were no WMDS , this revelation is very much the same.

Iraq having been disintegrated as a country is a Mission accomplished. Now they can assert control by pretending they try and set things right.

A huge chunk of the remaining wealth has been transferred from the commons to the 1 percent. Mission accomplished. Now they can pretend and advance new policies they claim will fix the situation.

The only real solution for what happened In Iraq is to lock up all those war criminals that lie Countries into war and throw away the key.

The only real solution to the IMF and the bankster class that has looted the world for the benefit of the 1 percent is to throw them in jail and throw away the key.


Can you think of a better jail to house this slime than Guantanamo?


A while back they came out and said austerity is destabilizing and unsustainable. Did that help Greece? No. Has it helped Michigan, no. Is your towns infrastructure crumbling? Yes.
I agree with Klein, give the money back and then we'll talk, otherwise these pigs need to be in jail.
Bernie is right we need a revolution not another neoliberal pig like Clinton in the White House, especially one that has neocon foreign policies.
I hate these rotten politicians that come out a year or two out of office and want to clear their conscience about the horrible things they did. The IMF is no different. After they announced the negative effects of austerity the Greece problem came up and what was their answer? Austerity.


Who's the slime you are referring to?


A vote for Clinton is a vote to continue neoliberal economic policies in the U. S. and probably the whole world.
A vote for Trump -- who the hell knows. But at least he speaks poorly of some neoliberal policies.
Of course, we could have had Sanders as our next President, and a decisive shift away from Reagan/Clinton/Obama economics.


Small confession, short shrift, but news, still news--not a sign of the ideologies death, however, or not in any way the article seems to indicate.

It is a sign that the darker practices are coming home to the central imperial populations, which have access to communications and a greater social interface with the perpetrators. When you live around the victims, they are less easy to dismiss as Economy 101 pawns. So there will be rounds of kvetching and carping and closer drone attacks as the guns go in and out of their holsters and the mob and its elect work out which parts of the working class can be paid to kill which. It is surely the methodology, and we in the West shall see it more, but it is apparently not all so simple as Jay Gould wished to believe.


Socialism as it exists in the Nordic Economic Model for instance, has performed quite well don't you think?


Exactly. That "looting stage" ongoing, is referred to as "austerity", to cover those toxic spreadsheets that in 2008 totaled 1.4 quadrillion USD,


We can still have Sanders, as the Democratic Primaries are ongoing.

As of June 1, 908 delegates still available.


I am not aware that Socialism is a failure. I am aware that Capitalism as practiced in the current form has devastated my middle class family. Many now depend on some form of public assistance as they await the "trickle down". But only the naïve believe these 1% neoliberals give a hoot. They will not be satisfied until they have all of it.........100%.