Another neoliberal institution shown to be unfit for purpose while lining the pockets of private equity and millionaires

Over the last several years, I have been indicating that I think we are in the endgame for neoliberalism as a dominant ideology. On many fronts, the signs are that its institutional structure has failed and the promises that justified that structure have not materialised. I know there is a difference between the promises to sell the idea (that we would all be better off) and the true motivation (to enrich the already wealthy and consolidate their hegemony). But short of military dictatorship where the top-end-of-town control the military, major economic changes are conditioned by the legislative and regulative structure created by government. That means that the voters have to be convinced that change is worthwhile. Neoliberalism thrived because the elites reconfigured the state to serve their interests after the social democratic era saw the state play a mediation role in the class conflict. That reconfiguration was driven by an intense public relations campaign to manipulate the public perception. The working class was divided into segments and segments were turned on other segments (the ‘dole bludgers’, the migrants, trans people, etc) as part of the strategy. The strategy enriched the architects beyond belief but for the rest of us the outcomes have proven dysfunctional to say the least. Now the endgame is upon us as the evidence continues to stack up that neoliberalism was an elaborate con to enrich the already rich and powerful. A report from Australia last week added to the evidence. It shows that one of the defining manifestations of neoliberalism in Australia – the privatised job services system has failed badly and only serves to fills “the pockets of private equity and millionaires, while leaving jobseekers without work”. Another brick in the wall falls.

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