A debate on how to achieve fairer, greener growth could point the way to a successor for neoliberal capitalism
What replaces neoliberal capitalism is a question at the forefront of Donald Trump’s mind every day.
The US president has never much liked those elements of the Washington consensus that celebrate free markets and liberal trade, as we have come to see in both his presidencies.
Trump can happily accept the neoliberal agenda when it means privatising government agencies and commonly held assets. He is enthusiastic about deregulation and handing the private sector all the freedom it needs to exploit workers and resources to boost profits.
But what Trump’s America First agenda cannot live with is tariff-free trade. He also resists anti-trust and anti-corruption laws, low budget deficits, and the abolition of barriers to foreign investment that qualify as central tenets of the Washington consensus.
