Posted at Hartmann Report on Apr. 26, 2026
Nationwide Neoliberalism Experiments: The Hidden History of Neoliberalism: How Reaganism Gutted America and How to Restore Its Greatness
“Blind faith in the efficiency of deregulated financial markets and the absence of a cooperative financial and monetary system created an illusion of risk-free profits and licensed profligacy through speculative finance…” —United Nations Conference on Trade and Development report on “The Global Economic Crisis”[liii]
The neoliberal ideology of Mises, Hayek and Freidman (et al) has now heavily influenced much of the developed and developing world, creating economic, political, and social disasters from Thailand to South Africa to El Salvador. But its biggest openly-declared national-scale experiments were kicked off in 1973 in Chile, 1981 in the United States, and 1991 in Russia.
In each case, rejecting a democratic government “of, by and for the people” and replacing it with a corporatist government “of, by and for the corporate and wealthy” has produced widespread disaster.