The Neoliberal Revolution That Wasn’t

Critics of neoliberalism often claim that because the affluent market democracies flourished during the economic Golden Age of the 1950s and 1960s, we would have been better served in the post-1973 era by pursuing the dirigiste economic policies that prevailed in the postwar era. Scott Sumner has replied by noting that while growth slowed down across the affluent market democracies in the post-1973 era, states that embraced neoliberal reform fared better than others. And now Kindred Winecoff has introduced a new argument – that to understand the alternative to embracing neoliberalism, it is instructive to consider the economic experience of Japan, which has resisted the market-oriented reforms of labor markets, the retail sector, and financial services that were so central to the neoliberal revolution.

Reihan Salam — Reihan Salam is executive editor of National Review and a National Review Institute policy fellow.

Most Popular


The Gun-Control Debate Could Break America

Last night, the nation witnessed what looked a lot like an extended version of the famous “two minutes hate” from George Orwell’s novel 1984. During a CNN town hall on gun control, a furious crowd of Americans jeered at two conservatives, Marco Rubio and Dana Loesch, who stood in defense of the Second ... Read More
Law & the Courts

Obstruction Confusions

In his Lawfare critique of one of my several columns about the purported obstruction case against President Trump, Gabriel Schoenfeld loses me — as I suspect he will lose others — when he says of himself, “I do not think I am Trump-deranged.” Gabe graciously expresses fondness for me, and the feeling is ... Read More
Politics & Policy

Students’ Anti-Gun Views

Are children innocents or are they leaders? Are teenagers fully autonomous decision-makers, or are they lumps of mental clay, still being molded by unfolding brain development? The Left seems to have a particularly hard time deciding these days. Take, for example, the high-school students from Parkland, ... Read More
PC Culture

Kill Chic

We live in a society in which gratuitous violence is the trademark of video games, movies, and popular music. Kill this, shoot that in repugnant detail becomes a race to the visual and spoken bottom. We have gone from Sam Peckinpah’s realistic portrayal of violent death to a gory ritual of metal ripping ... Read More