[lbo-talk] Michael Roberts: Neoliberalism works for the world?
marvgand2 at gmail.com
Tue Nov 28 13:15:36 PST 2017
Michael Roberts picks apart economist Noah Smith’s contention that “neoliberalism” in China, India, and elsewhere has been responsible for the much-touted decline in global poverty over the past several decades. Roberts also shows whatever decline there has been has been greatly exaggerated by the commonly accepted but wholly inadequate measure of poverty.
“Any improvement in poverty levels globally, however measured, is mainly explained by state-controlled China and any improvement in the quality and length of life comes from the application of science and knowledge through state spending on education, on sewage, clean water, disease prevention and protection, hospitals and better child development”, Roberts writes.
"These are things that do not come from capitalism but from the common weal.”
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