What is the Relationship of Neoliberalism and the Liberal Script?
SCRIPTS Arguments by Dorothea Kübler
Apr 19, 2023
The term “neoliberalism” is rarely used by economists. I propose to use “extractive and inclusive institutions” instead to describe economic and political systems. Extractive economic institutions such as monopolies and cartels are a threat to inclusive political institutions. If, instead, institutions keep access to markets and private property open and allow people to develop their talents, economic liberalism can underpin democracy and social rights.