: Opinion: Flaws of neoliberalism #IndiaNEWS #News By Samudrala VK At a time when the world is struggling with a major health crisis on the one hand and an economic apocalypse in the form of unimaginable

Opinion: Flaws of neoliberalism #IndiaNEWS #News
By Samudrala VK
At a time when the world is struggling with a major health crisis on the one hand and an economic apocalypse in the form of unimaginable scale of income inequalities on the other, it is important on the part of political bodies across the world to rethink the prevailing socio-economic and political strategies.
Peace, cooperation, harmony, freedom, equality, welfare and happiness are what modern political entities vow to their citizens to obtain the sanctity to rule. Sadly, with the advent of neoliberalism, not only the very idea of democracy, a path through which the aforementioned goals will be achieved and sustained, has gone off the rails but also the ideals upon which the modern state (political authority) rests and the values it vouches for.
Leaving its Imprint
As a derivative of capitalism, neoliberalism came into existence at a moment when corrective measures to the economic sphere in the post-war world were seen threatening the central tenet of capitalism – capital or profit accumulation. Since then, neoliberalism has been leaving its imprint on every walk of human life. To put it simply, it is leading, commanding, controlling and dictating every act of human life as a ghost force that seems quite difficult to get rid of.
Though started as a measure that is purely economic in nature, neoliberalism soon made its way into political, social, cultural, private and psychological domains. As the sayings go “every cloud has a silver lining??? and “the blessing in disguise???, Covid-19 came as an external force to quiver the neoliberal footings and expose the fundamental flaws of neoliberalism to the populace who are largely unaware and unknown. It has forced the intelligentsia and hoi-polloi alike to shed light on the crucial aspects of the invisible, yet all-pervading, neoliberal empire.
What has been hailed as an unchallengeable political and economic philosophy by its pundits or proponents, neoliberalism is now taking a toll on the physical and mental health of the working class across the world. One may be wondering about what constitutes neoliberalism and how it has derailed the very purpose of human life. Let us delve into it.
Political, Economic Fronts
Neoliberalism calls for the minimal role of the state in the economic domain ie, the state should be barred from involving in activities that are bound to benefit the working class. Ironically, it uses the same state to promote the economic interests of a few at the cost of the rest. Visibly, it appears flawless as it is masked by the apparel of political democracy.
Under the token of austere measures, it denounces welfare and social security measures.

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