The new rules for business in a post-neoliberal world | Financial Times

But it s not only the UK that is facing the downhill slope of neoliberalism. I recently met a senior Biden administration official who told me that many chief executives are now coming to Washington and asking for a signal from government where should we invest? Should we be in Vietnam or Mexico? Which sectors do you want us in?

While the government isn t yet in the business of picking winners and losers, the White House has already made the shift to a post-neoliberal era and many in the business community are preparing for it as well. CEOs may not like the idea of a deglobalising world with more regulation, greater state control and growing labour power. But they can usually find a way to make money as long as they understand the rules of the market.

So what are the new rules? The Biden administration recently put out a clear blueprint of the economy it wants, which included five key elements. One is empowering workers, which it has endeavoured to do by using federal budgets to support unionised labour. Another is leveraging as much fiscal policy as is possible in a polarised Congress to bolster working families in areas such as healthcare and childcare, which are increasingly unaffordable for many Americans.

via www.ft.com

Oh lordy. This is bad. Straight up corporatism, what some would call fascism. Fascism rarely ends well and in the meantime, it really sucks. So, this is bad.