America Quote by Noam Chomsky
““Both political parties have moved to the right during the neoliberal period. Today’s New Democrats are pretty much what used to be called “moderate Republicans.” The “political revolution” that Bernie Sanders called for, rightly, would not have greatly surprised Dwight Eisenhower. The fate of the minimum wage illustrates what has been happening. Through the periods of high and egalitarian growth in the ‘50s and ‘60s, the minimum wage—which sets a floor for other wages—tracked productivity. That ended with the onset of neoliberal doctrine. Since then, the minimum wage has stagnated (in real value). Had it continued as before, it would probably be close to $20 per hour. Today, it is considered a political revolution to raise it to $15.””
About This Quote
Source Speech: Lecture on Neoliberalism, 2015
Neoliberal policies have shifted political parties rightward, eroding wage growth and making modest wage increases seem revolutionary compared to past productivity‑linked wages.
In simple terms: Neoliberalism pushed wages down, making small raises seem huge.
Key Takeaway
Recognize economic shifts.
Themes
economics
politics
inequality
Mood
analytical
critical
Type
political
economic
When to use this quote
- policy debates
- union organizing
- academic research
- media commentary
Key Concepts
neoliberalism
labor markets
Questions to Reflect On
- What policies could restore wage growth?
- How do cultural factors influence economic shifts?
A Different Perspective
The analysis may oversimplify complex political dynamics.
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