Neo-Liberalism and the Slowing of Growth in the Past Four Decades

The period since circa 1980 has been characterised in terms of neo-liberalism and by slower growth than in the ‘golden age’ of capitalism. The paper explores ways in which neo-liberalism may be linked with the slower growth. Developments in many economies which are seen as linked with neo-liberalism include financialisation, pursuit of shareholder value and rentierism. The era of neo-liberalism has also seen further growth of monopoly capitalism and income inequality. The paper outlines ways in which those developments are related to slower growth.