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Markets in the Name of SocialismThe Left-Wing Origins of Neoliberalism$
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Johanna Bockman

Print publication date: 2011

Print ISBN-13: 9780804775663

Published to Stanford Scholarship Online: June 2013

DOI: 10.11126/stanford/9780804775663.001.0001

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Introduction Economists and Socialism

Introduction Economists and Socialism

Chapter:
(p.1) Introduction Economists and Socialism
Source:
Markets in the Name of Socialism
Publisher:
Stanford University Press
DOI:10.11126/stanford/9780804775663.003.0001

Neoliberalism is an economic and political ideology that fundamentally changed the world. It glorifies the market while condemning the state, socialism, and even collective ideals such as social justice. The global victory of neoliberal capitalism seems to have been affirmed by the fall of the Soviet Union in 1991 that led to the further dismantling of state socialism in favor of market and democratic reforms worldwide. This book argues that neoliberal capitalism was not a hegemonic juggernaut but a parasitic growth on the very socialist alternatives it rejected. It examines the socialist origins of neoliberalism and looks at the important role played by professional economists in the development and spread of neoliberal ideas and policies. It also offers a fourfold definition of neoliberalism based on its avid support for competitive markets, capitalism, and smaller, authoritarian states as well as hierarchical firms, management, and owners. The book considers two experiments in decentralized socialism in Eastern Europe: the worker self-management socialism in Yugoslavia and market socialism (“goulash communism”) in Hungary.

Keywords:   neoliberalism, capitalism, socialism, competitive markets, authoritarian states, Eastern Europe, Yugoslavia, goulash communism, Hungary

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