Neoliberalism is over. Around the world, the populist left and right are rejecting it. As a political term, it’s a dead man walking, even as its market-based policies still shape major economies. This isn’t a eulogy for free enterprise, which Americans strongly support. It’s a eulogy for a word that has lost its meaning and stands in the way of a real debate about markets and the role of government.
In the Wall Street Journal, James Lloyd Dusenbury recently argued that our political vocabulary, including communism and capitalism, is obsolete. Neoliberalism belongs on the list, too.
