The Decline of Neoliberalism: A Philosophical and Political Analysis

No one can dispute the fact that neoliberalism is experiencing its final throes as we speak. From a philosophical standpoint, this movement is unique because it is driven by individuals rather than a rigid top-down ideology. Most historical ideologies have attempted to anchor themselves in broader philosophical or religious frameworks, but neoliberalism traces its roots to the personalities and events surrounding its emergence.

Origins and Foundations

Neoliberalism traces its origins back to the 1970s, during a time when the American academic economic framework began to mix with liberal social policies reflecting the social changes of the 1960s. This movement gained widespread acceptance in the 1980s, particularly under the administrations of Ronald Reagan and Margaret Thatcher. The intellectual underpinnings of neoliberalism shifted in the 1990s as the Soviet Union's collapse fueled an ideological victory for neoliberals. However, the ideology that came to define the modern neoliberal era started to lose its cohesion and meaning in the 1990s under the Clinton administration.

The Rise and Fall of Neoliberals in American Politics

Neoliberalism became closely associated with a specific cohort within the Democratic Party during the Clinton era, led by figures like Bill Clinton, Hillary Clinton, John Kerry, Joe Biden, Nancy Pelosi, Chuck Schumer, and Harry Reid. The term "neoliberal" began to lose its rigid philosophical meaning as it was used more as a label for politicians and their policies rather than a coherent ideology.

The modern Democratic Party has demonstrated a remarkable shiftiness in its beliefs, aligning with what election focus groups dictate rather than a set of guiding principles. The highest good for neoliberals in contemporary terms is simply winning elections.

Phenomenon of Personification

Neoliberalism, in its current form, has become an ideology of personification. The aging cohort of neoliberal politicians, such as those still serving in the Biden administration, is nearing the end of their political careers. As these individuals retire, it is likely that the philosophical framework of neoliberalism will cease to exist in the political landscape.

The Future of Neoliberalism

The decline of neoliberalism is a multifaceted process. Beyond the personal and political shifts, it also reflects a broader questioning of the foundational economic and social policies of the past several decades. As the older generation of neoliberals retires, new leaders will rise with different perspectives and ideologies, potentially signaling the end of an era.

Conclusion

In conclusion, the declining relevance of neoliberalism is a natural consequence of the passage of time and the changing face of politics. While the term neoliberalism may continue to be used in political discourse, its true meaning is likely to become increasingly diluted, reflecting the complex and evolving nature of political thought in the 21st century.