Neoliberalism: ‘Profit Goes To Apple And Microsoft, Not To The Taxpayer’

From Mint Press News:

AUSTIN, Texas — According to noted political philosopher and scholar Noam Chomsky, neoliberal politicians are hypocrites who prioritize corporate finances over both taxpayers’ well-being and their own economic principles.

In April, Chomsky sat down with Yanis Varoufakis, the former Greek finance minister and founder of the Democracy in Europe Movement, in a public conversation hosted by the New York Public Library.

Independent media site acTVism Munich released an excerpt from their one-hour dialogue on Tuesday. The first in a series of videos of the dialogue focuses on neoliberalism and how it’s shaped the modern world and global economy.

“One of the paradoxes of neoliberalism is that it’s not new and it’s not liberal,” said Chomsky, a professor of linguistics at MIT who is also well known as a scholar of global politics and economics.

Neoliberals generally support free trade, deregulation, privatization, and austerity-driven policies, including cuts to social services. The philosophy rose to prominence in the United States during the Clinton administration.

Prior to joining the Greek government as finance minister in January 2015, Varoufakis was an academic and economist. Failing to negotiate a bailout deal for the country’s economy which would relieve the unemployment, starvation and suffering caused by devastating austerity policies instituted by neoliberals in the European Union, Varoufakis resigned from his post within a year. He told Chomsky:

“What strikes me, given the last quite eventful year of my life, what really strikes me is the major disconnect between the philosophy and ideology of neoliberalism and that which I encountered when negotiating, inverted commas negotiating, when being dictated by the greater the good of the neoliberal international financial establishment.”

He continued that he was no longer finance minister because he “refused another hundred …

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