Not quite the death knell

The passage of American Rescue Plan doesn’t once and for all time sound the death knell on Neoliberalism, but it is a damn good start. Neoliberalism, after all, entails a restructuring of the state and its functions to facilitate the accumulation of capital and remove any barriers to the reassertion of the power of finance capital on global scale.

It also relentlessly redistributes income to the top tiers of the capitalist class (finance especially) and transforms government agencies – “the administrative state” – and its elective bodies from instruments supposedly serving the commonweal into undisguised arms of the corporate class. It works as well to disorganize and disempower the working class in the Global North, while at the same time, drawing new states and vast numbers of informal and precarious laborers in the Global South into the network of global production and super exploitation. It aggravates racial inequality and further racializes the division of labor.

Not least, neoliberalism zealously attempts to roll back the provision of public goods such as health care, education, housing, unemployment assistance and welfare, a clean and safe environment, and more.