> Neoliberalism is a failed experiment

how has neoliberalism failed?

It hasn’t. Global extreme poverty fell from 36% in 1990 to 10% in 2015. It’s really frustrating to engage with people who categorically refuse to acknowledge positive developments.

Global poverty has improved mostly due to China, which is total opposite of neoliberal policy (privatisation, deregulation, austerity [allowing rich to pay less taxes while taking the necessary tax money via cuts to social programs] etc).

And if there is any improvement in neoliberal poor countries it is because of the definition of "extreme poverty" used is based on nominal dollar value disconnected from material reality.

In other news that are never mentioned in western media - the top three countries based on long-term economic growth are Laos, Vietnam and China. The only three countries that are both enmeshed in global trade, while also being run by communists. Surely just a coincidence

> In other news that are never mentioned in western media - the top three countries based on long-term economic growth are Laos, Vietnam and China.

I’m having trouble finding a data set and definition of “long term” that supports that top-3 ranking, care to share yours?

This stat is, I assume, coming from Pinker, which is disputed and highly misleading. And somehow you are frustrated with engaging people.

No, it comes from the World Bank[1].

[1] https://www.worldbank.org/en/news/press-release/2018/09/19/d...

Global extreme poverty falling isn't due to neoliberalism, or at least show me a source saying so.

I left another comment on the thread with this study [1] which I recommend to anyone wanting to dispute that neoliberalism has failed.

About the US from this study:

> Third, where we have seen a reduction in poverty, it has come from government action, not from education. The earned income tax credit (EITC) and minimum wage, for example, are the systematic levers that raised wages for lower-wage workers—not skills. In 1967, the poverty rate was 27 percent without tax credits and benefits. That number is 29 percent now, but it is 16 percent when tax credits and benefits are applied. The EITC has pulled many people out of poverty.

[1] https://rooseveltinstitute.org/wp-content/uploads/2020/07/RI...

Here is a much better study and summary of the main failures than what I could ever write on this comment section [1].

[1] https://rooseveltinstitute.org/wp-content/uploads/2020/07/RI...