Elaborate Capitalism

Labonté R. Neoliberalism 4.0: The Rise of Illiberal Capitalism Comment on "How Neoliberalism Is Shaping the Supply of Unhealthy Commodities and What This Means for NCD Prevention". Int J Health Policy Manag. 2020 Apr 1;9(4):175-178. doi: 10.15171/ijhpm.2019.111. PMID: 32331498; PMCID: PMC7182151.

Neoliberalism 4.0: The Rise of Elaborate Capitalism:

• Neoliberalism Evolution:

  • Neoliberalism 1.0: Structural adjustment programs in the 80s and 90s.

  • Neoliberalism 2.0: Financialization enabled by technology and deregulation.

  • Neoliberalism 3.0: Physical austerity post-2007/2008 financial crisis.

• Historical Context:

  • Adam Smith's focus on market efficiency, with overlooked warnings on inequality.

  • Von Hayek's extreme liberalism and German ordo liberalism post-WWII.

  • Rapid economic growth, social protection, and progressive movements after WWII.

• Neo-Fascism and Challenges:

  • Reemergence of neo-fascism.

  • Real economy persists amid financialized global economy.

  • Financial austerity, upward wealth redistribution, and global tax trends.

• Macro Health Advocacy:

  • Urges a shift away from capitalism threatening life's foundations.