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What Will the Collapse of Neoliberalism Bring to America & Russia?
There’s a reckoning coming. The kind of oligarchy that neoliberalism has brought to both America and Russia is so unstable it will not hold. Both nations are thus confronting dramatic transitions over the next few years.
As Russia has suffered substantial defeats in Ukraine, Vladimir Putin may be looking at the end of his reign. There’s similar tough stuff facing Donald Trump, Steve Bannon, and their GOP buddies.
As the world watches its 40-year-old experiment with neoliberalism collapse, Republicans in the US and Putin in Russia are facing a crisis they once thought would be an opportunity.
Neoliberalism was brought to America in 1981 by Ronald Reagan with his “Reagan Revolution,” and brought to Russia in the 90s by the IMF.
It’s an economic and political system where regulation of the economy of a nation is largely taken away from government and handed to the largest, wealthiest, and most powerful economic actors, be they billionaires, corporations, or both.
It accomplishes this by:
- *Diminishing government’s role in protecting consumers, communities, and small business (deregulation);
- *Gutting the power of labor (destroying union movements and letting corporations go anywhere in…
