Preludes to neoliberalism

Keynesian economics and the New Imperialism of Bretton Woods

George Baca,  Dong-a University, South-Korea

Contemporary debates over the nature and characteristics of neoliberalism have devolved into a social democratic criticism of capitalism. Prominent Marxists such as David Harvey and Gerard Dumenil have based their popular theories of neoliberalism on ideal views of postwar Keynesian and Welfare State policies. Keynesianism, we must not forget, played a central role in rebuilding global capitalism after the World Wars and Great Depression – not to mention its central role in prosecuting the Cold War. Contemporary critiques of neoliberalism side-step these issues and fall back upon mythic images of postwar “compromises” between western workers and multinational corporations and the welfare state. From the ideological view of Cold War capitalism, these arguments present neoliberal policies as if they represent a “crisis,” “rupture,” or critical turning point in history. Two major problems stem from this perspective, which we will explore. First, John Maynard Keynes emerges as a socialist-like figure, committed to social justice, and concerned with equitable redistribution of wealth. Second, it ignores the importance of imperialism in the massive economic growth of the US and Western Europe. This course will counter these perspectives by examining the thought of Keynes and showing how he modified liberalism in ways that shaped the emergence of a new form of imperialism. You cand find here more details about the event: https://www.facebook.com/events/277297709842220/