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For many decades now, one of the favored tactics of neoliberal policymakers has been to claim that, in the modern globalized economy, the nation-state is too powerless to effect meaningful economic change. If a government tries to raise taxes or impose new regulation, wealthy individuals and corporations will simply leave.
As former chair of the Federal Reserve Alan Greenspan once put it, “Thanks to globalization, policy decisions in the US have been largely replaced by global market forces.” The state, in other words, is powerless.✏️ Neoliberal arguments about how the state is powerless.
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We can’t scare off wealthy people and corporations, right?
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