Marknadsliberalismens uppgång och fall i sammandrag

den . Publicerad i Blogg

Nyliberalismen rasar just nu som ett korthus och marknadsliberaler springer åt alla håll. Tre citat från 1776, 2005 samt 2008 sammanfattar processen rätt bra.

1776 - starten

"Every individual intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his original intention. By pursuing his own interest he frequently promotes that of society more effectively than when he really intends to promote it."

Marknadsliberalismens grundare Adam Smith i "Wealth of Nations" 1776

2005 - höjdpunkten

"Globalization has altered the economic frameworks of both developed and developing nations in ways that are difficult to fully comprehend. Nonetheless, the largely unregulated global markets do clear, and, with rare exceptions, appear to move effortlessly from one state of equilibrium to another. It is as though an international version of Adam Smith's "invisible hand" is at work."

USA:s centralbankschef Alan Greenspan talar inför Bundesbank 13 januari 2004. Alan Greenspan hade som ung varit lärjunge till Ayn Rand och som USA:s hittills mest långlivade centralbankschef, han satt från 1987 till 2006,  drev han en hård nyliberal linje där han med hänvisning marknadens påstått självbalanserande mekanismer motsatte sig de flesta krav på regleringar. Han hyllades av många marknadsliberaler som en hjälte då han avgick 2006.

(Citerad här)

2008 - fiaskot

REP. WAXMAN: Well, where do you think you made a mistake, then?
MR. GREENSPAN: I made a mistake in presuming that the self- interest of organizations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms. And it’s been my experience, having worked both as a regulator for 18 years and similar quantities in the private sector, especially 10 years at a major international bank, that the loan officers of those institutions knew far more about the risks involved in the people to whom they lent money than I saw even our best regulators at the Fed capable of doing.
So the problem here is, something which looked to be a very solid edifice, and indeed a critical pillar to market competition and free markets, did break down. And I think that, as I said, shocked me.
I still do not fully understand why it happened. And obviously, to the extent that I figure out where it happened and why, I will change my views. And if the facts change, I will change. (...)

REP. WAXMAN: Do you feel that your ideology pushed you to make decisions that you wish you had not made?
MR. GREENSPAN: Well, remember that what an ideology is, is a conceptual framework with the way people deal with reality. Everyone has one. You have to -- to exist, you need an ideology. The question is whether it is accurate or not. And what I'm saying to you is, yes, I've found a flaw. I don't know how significant or permanent it is. But I've been very distressed by that fact.

REP. HENRY WAXMAN: You found a flaw in the reality...

ALAN GREENSPAN: Flaw in the model that I perceived is the critical functioning structure that defines how the world works, so to speak.

REP. HENRY WAXMAN: In other words, you found that your view of the world, your ideology, was not right, it was not working?

ALAN GREENSPAN: Absolutely, precisely. You know, that’s precisely the reason I was shocked because I have been going for 40 years or more with very considerable evidence that it was working exceptionally well.

USA:s före detta centralbankschef Alan Greenspan förklarar i ett kongressförhör 23 oktober 2008 att han misstagit sig då han trodde att marknaden hade en inbyggd förmåga att åtminstone skydda sina egna ägare. Den "osynliga handen" fanns inte.