Triumph of neoliberalism in society

Bertrand M. Roehner ()
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Bertrand M. Roehner: University of Paris 6, LPTHE

Chapter Chapter 10 in Hidden Collective Factors in Speculative Trading, 2010, pp 219-228 from Springer

Abstract: Abstract The concept of social capital was developed by Harvard political scientist Robert D. Putnam. In his book entitled “Bowling alone” he suggests that the more people have opportunities to meet one another the “healthiest” a community is. The main problem is to define terms such as “healthiest” and “social capital” in a fairly objective way1. Needless to say, more work is required to better understand the role of social interaction. The triumph of neoliberalism in many countries provides a unique opportunity to analyze the effects of a drastic change in social interaction. Why? In the previous chapter we have already emphasized that neoliberalism is based on an individualistic conception. Not surprisingly, therefore, loss of social solidarity is one the most obvious consequences whenever neoliberal policies are implemented. How does such a loss of social solidarity affect our societies? The answer is not obvious because many effects are indirect rather than direct. It may seem that free-market policies do not prevent people from taking part in bowling associations, in bridge clubs or in astronomy workshops. Yet, if people must work longer, if the ultimate rational and pervasive purpose of our societies is to maximize the consumption of goods, then of course such activities will hardly be encouraged.

Keywords: Social Capital; Infant Mortality; Income Inequality; Incarceration Rate; High School Graduate (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-642-03048-2_10

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DOI: 10.1007/978-3-642-03048-2_10

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