Dr Graeme Garrard: The return of the state

·1 hr 15 min·5 clips

Dr. Graeme Garrard concludes his 40-year study of neoliberalism by declaring the experiment an 'abject failure' for everyone except the top 1%.

Nick Pearce, Director of the Institute for Policy Research at the University of Bath, introduces Dr. Graeme Garrard, a politics reader at Cardiff University, to discuss his new book 'The Return of the State.' Garrard begins by framing his analysis within his lifetime, noting he turned 15 in 1980 as neoliberalism became dominant. He describes neoliberalism as an 'experiment' and renders a verdict of 'abject failure,' beneficial only to the top 1%. Garrard argues the debate should not be state versus market but about the best mix, favoring a stronger state. He presents data showing the rise of corporate monopolies, with examples like Google, Facebook, and Boeing-Airbus dominating their sectors. Garrard critiques the neoliberal idea that private vices lead to public benefits, citing the 2008 financial crisis as evidence of public harm. He discusses privatization under Margaret Thatcher, showing it concentrated wealth rather than spreading it. Garrard asserts that civil society is largely colonized by the market today, leaving big states and big markets as the primary realms. He calls for a 'public interest state' strong enough to counter corporate power and guarantee access to essential goods. In the Q&A, host Nick Pearce asks about specific policies, leading Garrard to advocate for public ownership of utilities, banks, and essential services. Questions from the audience explore models like China's state capitalism, global regulation, and the role of civil society. Garrard expresses skepticism about transnational regulation and grassroots movements in a 'world of big,' emphasizing democratic accountability within states. He acknowledges uncertainty about the agency needed to end neoliberalism but hopes crises might spur change. The discussion concludes with reflections on the resilience of neoliberal ideas and the state's role during the COVID pandemic.

As heard by us

A serious discussion of the state's role, from public services and markets to democracy and austerity.

Dr Graham Garrard's talk lands in the renewed debate about the state shaped by Covid and the 2008 financial crisis, with Nick Pearce framing a practical question about what a modern state might do.

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Why you'd press play

A serious case for a larger state, with policy arguments that stay concrete.

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