Tag: Richard Epstein

Why the Left Gets Neoliberalism Wrong: It’s the Feudalism, Stupid!

Left critics of neoliberalism—or just plain old unregulated capitalism—often cite Margaret Thatcher’s famous declaration “There is no such thing as society” as evidence of neoliberalism’s hostility to all things collective. Neoliberalism, the story goes, unleashes the individual to fend for herself, denying her the supports of society (government, neighborhood solidarity, etc.) so that she can prove her mettle in the marketplace. But these critics often ignore the fine print of what Thatcher actually said in that famous 1987 interview with, of all things, Woman’s Own.  Here’s the buildup to that infamous quote: Who is society? There is no such thing! There are individual men and women and there are families… It’s that last phrase (“and there are families”) that’s crucial.  […]