Neoliberalism was created after World War II, and I stress the point, it was a deliberate construction. Markets allocate power according to wealth, and wealth is not fairly distributed, so markets cannot reflect equality with regard to freedom. Neoliberalism could not work, though, in a world where post-war economics met people's needs, and the welfare state offered freedom from fear. When full employment and public investment mattered, then there was no prospect for neoliberalism, and then the 1970s arrived. It has turned citizenship into consumption, and now neoliberalism is dying.

Source: The Guardian January 25, 2026 10:44 UTC