Report
Patrick Artus

Could neoliberalism have caused the decline in growth?

We take the example of the United States, where highly neoliberal policies were introduced from the 1980s. Productivity gains and growth began to slow in the United States from the early 1980s: could this be due to neoliberalism? Via what mechanisms could neoliberalism weaken growth? The offshoring of production to emerging countries due to the introduction of free trade ; The impoverishment of wage earners and the middle class, due to the skewing of income distr ibution in favour of profits. Another feature of the US economy, which is not at all neoliberal, must also be considered: corporate concentration and the emergence of dominant positions, which normally impede investment, innovation and therefore growth. Altogether, the slowdown in US growth since the 1980s is probably due to causes other than neoliberalism: lower growth in human capital, the growth of services, lower efficien cy in research.
Provider
Natixis
Natixis

Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.

 

Analysts
Patrick Artus

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