Tag: USA: Path to Fascism

NOVANEWS Neoliberalism transforms freedom for the many into freedom for the few. Its logical result is neofascism. by: Chris Hedges Neoliberalism generates little wealth. Rather, it redistributes it upward into the hands of the ruling elites. (Photo: Mr. Fish / Truthdig) Neoliberalism as economic theory was always an absurdity. It had as much validity as past ruling ideologies such as the divine right of kings and fascism’s belief in the Übermensch. None of its vaunted promises were even remotely possible. Concentrating wealth in the hands of a global oligarchic elite—eight families now hold as much wealth as 50 percent of the world’s population—while demolishing government controls and regulations always creates massive income inequality and monopoly power, fue...