What is neoliberalism?
You may have seen the term “neoliberalism” thrown about in arguments but there’s confusion about what it means. It’s an economic idea that has been around since the 1970s, but it became really popular in the ’80s and ’90s. Basically, it’s all about putting the free market and individualism first, which means less government control and more privatisation.
We saw a lot of neoliberal policies being put into action, like deregulation and austerity measures. Some people think
these policies helped our economy grow, but others say they caused more problems than they solved. For example, they led to more inequality, less support for people who need it, and less access to things like healthcare and education.
One of the most well-known examples of neoliberalism here was the reforms in the ’80s and ’90s, known as “Rogernomics”. They involved things like selling off state-owned assets and making people pay for things like university education.
People who support neoliberalism say it’s all about giving people more freedom and making things more efficient. But people who don’t like it say it has made things worse for most people and helped the rich get even richer.
Lately, there have been more and more people in New Zealand who don’t like neoliberalism and want something different. They want an economic system that’s more fair and helps everyone, not just a few people at the top.
It’s really important that we talk openly about this so we can figure out what kind of future we want for ourselves and our country.
Russell McLeod
