A new edition of the Quarterly Essays has appeared, another attack on neoliberalism, this time by Waleed Aly of Monash University. As usual with these things he has invented a straw dummy and not bothered to come to grips with the classical liberal agenda in which deregulation of over-regulated markets is a mere portion. I will post a critique asap but in the meantime will invite the resident lefties like Homer and THR to debate the pros and cons of classical liberalism, namely the usual suite of freedoms, limited government under the law, the rule of law including secure property rights and a robust (conservative) moral framework.
What do you guys think is the problem with this agenda? Which bits do you accept and which not? How do you improve on it with social democracy, social justice and the welfare state?