The Invisible Doctrine: Unmasking Neoliberalism’s Devastating ImpactThe Invisible Doctrine: Unmasking Neoliberalism’s Devastating Impact In their groundbreaking book, “The Invisible Doctrine,” renowned authors George Monbiot and Peter Hutchison expose the insidious nature of neoliberalism and its catastrophic effects on society. Neoliberalism, described as “capitalism on steroids,” has transformed our economic landscape, privatizing key sectors, and minimizing government regulation. Driven by the belief in the “invisible hand of the market,” neoliberals argue that private interests will naturally lead to a more equitable and prosperous society. However, Monbiot and Hutchison argue otherwise. They contend that neoliberalism has exacerbated inequality, degraded public services, and contributed to environmental disasters. They point to the rise of modern demagogues, such as Donald Trump, as a symptom of the system’s failures. The authors trace the origins of neoliberalism to the 1930s and the writings of Frederick Hayek, who advocated for a radical reduction in government intervention. They argue that neoliberal policies have been relentlessly pursued by American presidents and British Prime Ministers, including Margaret Thatcher, who famously declared “There Is No Alternative.” Monbiot and Hutchison dismantle the claims that neoliberalism promotes economic growth and individual freedom. They highlight the exploitation of indigenous lands and the concentration of wealth in the hands of a few. The book calls for urgent system change, away from the dominance of profit-driven corporations. They advocate for expanded participatory democracy, strengthened governance, and a reimagined economy that prioritizes people and the planet over profit. “The Invisible Doctrine” is a compelling and timely critique of neoliberalism’s destructive legacy. It offers a clarion call to readers concerned about the current crises and the urgent need to create a more just and sustainable future.
British bestselling authors George Monbiot and Peter Hutchison recently published “The Invisible Doctrine,” a powerful critique of neoliberalism and the role they believe it plays in destroying our human future.
The authors say that neoliberalism is the dominant ideology of our time, but many people don’t know much about it. They argue that it has caused or contributed to most of the crises we now face, including rising inequality, the slow degradation of health care, education and other public services, the crumbling of infrastructure, the 2008 financial crisis and environmental disasters. They say it has also contributed to the rise of modern demagogues like Donald Trump and others.
They add that neoliberalism is neither inevitable nor immutable. It was conceived and promoted as a deliberate way to transfer power to “the invisible hand of the market.” And that the crises it causes are not perverse outcomes of the system. They are the system!
Neoliberalism is often described as “capitalism on steroids.” Capitalism is defined as an economic system in which private actors own and control property in accordance with their interests and in response to the constraints of supply and demand. And the authors point out that making a profit often means making the world worse for other individuals or other communities or countries. They discuss the claim made by John Locke and his followers in 1689 that “the tilling of a piece of land enables men to make the land their own.” And that once they own it, they are free to do with it as they wish to make money. But the authors also draw attention to the colonial takeover of indigenous lands that had been “worked” by indigenous peoples for thousands of years.
The term neoliberalism was coined in 1938 at a conference in Paris and in 1948 Frederick Hayek published his book “The Road to Serfdom,” in which he explained the theory. He argued that the welfare state and social democracy limited the scope of individual action and would mutate into the kind of absolute control that both Stalin and Hitler exercised. The neoliberals therefore argued that there was a need for “private equity funds” to exert more control over the system and minimize the role of governments.
Before the advent of neoliberalism, the global economy was heavily influenced by the writings of John Maynard Keynes, who argued that governments should pursue full employment, taxes should be high and public services well funded, while limiting inequality. On these issues, the neoliberals told a very different story, and Keynesian economics began to experience various crises, with neoliberalism becoming increasingly popular and effective in taking control of government policy.
The neoliberal approach was increasingly adopted by American presidents. In the United Kingdom, Margaret Thatcher became a neoliberal disciple, claiming that “There Is No Alternative (TINA)” to the new approach.
The book argues passionately for urgent system change, away from the control currently exercised by profit-makers, and the need to strengthen governance and the way the economy functions, through expanded participatory democracy. This is a well-written, relatively short book that deserves a wide readership from those of us who are concerned about the many crises that now threaten our human future.
George Monbiot and Peter Hutchison, “The Invisible Doctrine: The Secret Life of Neoliberalism and How It Came to Rule Your Life”, Penguin, 2024, is available here.
