A cleaned-up rough transcript of what I said at the start of class 2023-04-19 We
I guess There is no way to get you to use a different wore than "Neo-Liberal." It just seemed like the perfect word for a mid-course correction to US "Liberalism" which did not pay enough attention to long term growth and the ways that budget deficits, and failure to use Pigou taxes (or at least regulations using cost-benefit analysis with the social cost of externalities embedded in the parameters) to correct externalities hampered it. True, that additional redistribution was not part of the idea, but using more explicit distribution to buy political support for more growth-promoting policies.
How sad that the word came to mean tax cuts for the rich and deficits. How tragic that while this "Neoliberalism grew up so did the thicket of land use and "safety" regulations.
The political economy question is how did what came to be called "neoliberalism" go so badly off track from what it could have been? And how do we get it back on track?
I've been a fan of Martin since the World Bank. I'm going to listen as soon as I get a new cell phone. Ezra is the one policy podcast that I'll listen to even though I can't comment on it.
Can we anticipate more posts of class material? The syllabus? I own your book but only have Gerstle's on library loan.