"Comrades, our Yunling City is carrying out learning activities among party members and cadres, and the Propaganda Department of the Municipal Party Committee has a list of recommended books, three of which are recommended by me. Keynes's "General Theory of Employment, Interest and Money", Marx's "Capital" and Smith's "The Wealth of Nations" are precisely the three major classical economic theories in the European capitalist world. ”

"There are two main schools of economic theory today, one is Keynesianism and neo-Keynesianism, and the other is economic liberalism and neoliberal economics. This is macroeconomics and microeconomics, or, in layman's terms, interventionism and liberalism. ”

"New Keynesianism insists on the imperfection of the market, and believes that it is impossible for economic agents pursuing their own interests to see everything into the future and act accordingly, so it is difficult for the prices of all economic resources to be quickly adjusted and the market cleared. It takes a considerable time process for the economy to move from non-equilibrium to full equilibrium, during which the economy suffers, so government policy intervention is necessary and beneficial. The theoretical structure of this school is not refined and perfect, and the arguments are different, and there is no unified theoretical system, but the spiritual essence is always one sentence: government intervention is necessary. ”

Neoliberal economics, on the other hand, believes that the market is perfect, that economic agents pursuing their own interests have rational expectations for the future and act accordingly, so that the prices of all economic resources will be rapidly adjusted to reach the point where the market is cleared and the economy will automatically tend to equilibrium. In this way, all government intervention in the economy is unnecessary and ineffective. If the government takes a sudden policy intervention that exceeds people's expectations, although it may deviate the economy from equilibrium in the short term, and achieve some kind of small but only larger imbalance, any government intervention in the economy will have fewer advantages and more disadvantages. No matter how refined and perfect the results of this theory are, the spiritual essence is always one sentence: complete economic freedom. ”

"In addition to the apparent apparent apparent economic impact of Keynesianism, the deeper reason for Keynesianism is probably the rationale for getting more and more extensive government intervention in the economy. In China, the functions of the government are too broad, there is no separation between government and enterprises, and some officials are accustomed to pursuing political achievements as the goal. Some local governments have turned the expansion of domestic demand into a simple expansion of aggregates, implemented a policy of both monetary and fiscal expansion without control, blindly invested and duplicated construction, and sought GDP growth through a large amount of investment, which then produced a bubble economy, and then forced banks to lend, further increasing financial risks. Keynesianism is concerned with short-term problems, not long-term problems, and why should a policy persist when it hurts the country's long-term development? The only reason is political considerations. Local government officials generally only think about short-term things and do not think about long-term things, and Keynesianism is especially suitable for local government officials who only think about short-term interests. ”

"What about neoliberal economics? It is the ideology of the contemporary right-wing bourgeoisie, a theoretical trend of thought, an ideological system, and a set of policy propositions formed to meet the requirements of the transformation of contemporary state monopoly capital into international monopoly capitalism. Although neoliberal economics is a vast and complex system, the core ideas of neoliberal economics can be summarized into three in terms of the views of its mainstream schools. The first is marketization, the second is liberalization or non-regulation, and the third is privatization. It can also be said that the connotation of neoliberal economics has three meanings: marketization, liberalization, and privatization. ”

"The so-called marketization means that the market is omnipotent, and the market economy is an almighty machine that can automatically operate and allocate social resources. Marketization means that the factors of production, products, and labor services are all commoditized, and all economic operations rely on the spontaneous regulation of the market mechanism. The so-called liberalization is to oppose all government intervention and macroeconomic regulation and control, to allow the market to develop freely, and to believe that full economic freedom is the prerequisite for improving economic efficiency. While believing that the role of the market mechanism can form a natural order, he also believes that individual freedom is the guarantee of the market system and the basis for the market mechanism to play its role, and only by guaranteeing the individual's right to choose freely can economic efficiency be maximized. Enshrine the role of market laws and individual liberalism as supreme creeds. Therefore, neoliberalism opposes any form of state intervention, opposes any form of planning, and promotes an anarchist economic model. The so-called privatization is to strongly advocate comprehensive private ownership, and regard capitalist private ownership as the only rational and eternal economic system. Neoliberal economists are all advocating and promoting outright privatization. They believe that as long as private ownership of the means of production is practiced, there can be no restrictions on private economic behavior, so that individual potentials can be brought into full play and economic efficiency can be greatly improved. Moreover, the practice of private ownership can automatically achieve balanced economic development. They believe that private ownership has too many advantages over public ownership, so they always try their best to oppose public ownership and regard public ownership as the root of all evil. Their goal is always to make private ownership in all countries of the world and to globalize and perpetuate the capitalist system. ”

"Since the Reagan presidency, the United States has continuously promoted privatization and liberalization, and abolished all kinds of regulations, especially in the financial field, which has led to the emergence of endless financial innovations in the United States, and the American economy has been rising continuously under the impetus of the information technology revolution and economic globalization. Yellen, the current Fed chair, called the nineties an amazing decade. Unfortunately, the subprime mortgage crisis broke out in the United States in 2007, which continued to ferment and spread, triggering the international financial crisis in 2008. The root cause of this crisis lies in the neoliberal economic policies that the United States has accelerated in the past three decades, which has led to the widespread deregulation of financial institutions in the United States. It can be said that the neoliberal economic policies of the past 30 years are not only the root cause of the international financial crisis, but also the root cause of the deep crisis of the US economy, society, and even democracy. ”

"Latin America is also the hardest hit by the scourge of neoliberal economics, where countries have had to accept IMF assistance and reforms guided by the Washington Consensus because of their debts. Ignoring the history and national conditions of Latin American countries, the West has demanded economic reform in Latin America in accordance with the principles of privatization, marketization, and liberalization. Since independence, Latin American countries have had a single fragile economic structure, dominated by the production of primary products, heavily dependent on the world market, and weak processing and manufacturing industries. The sudden neoliberal reforms have completely insecure the economic security of Latin American countries, with free finance, investment, and trade, and the country's welfare guarantees for social fairness have been curtailed, and imperfect laws and the absence of the state have opened the door for Western multinational corporations and financial consortia to exploit Latin America. Latin America's economic growth rate plummeted from an average growth rate of more than 5 percent in the 60s and 70s of the 20 th century to 1.1 percent in the 80s, and the per capita GDP growth rate was negative 1 percent. ”

"In Africa, the U.S. Treasury Department's lending to Africa through international organizations such as the IMF and the World Bank has been linked to structural reform clauses with neoliberal economic policies at its core, and the results are clear from Latin America's experience. Twenty years of structural adjustment and reform by the World Bank and the International Monetary Fund have undermined Africa's development and plunged its economy and society into chaos. Nobel laureate economist Stiglitz pointed out that the World Bank and the International Monetary Fund (IMF) have essentially pursued privatization, capital market liberalization, price liberalization, and trade liberalization in African countries, and that this one-size-fits-all four-step reform policy has not promoted economic growth, but has plunged African countries into a hellish predicament. Between 1980 and 200, Africa was impoverished by neoliberal economic policies imported from the West, but instead of reflecting, the West ridiculed Africa as a continent of despair. ”

"In countries in transition, such as Eastern Europe and Russia, they have all fallen into deep recessions as a result of the full implementation of neoliberal shock therapy, and some countries have so far failed to return to their pre-transition levels. A World Bank report also acknowledges that the current recession was more severe than the Great Depression of the last century. Taking Russia as an example, by 2009, the added value of Russia's entire industry was still only 72 percent of its 1999 level, of which the textile and leather industries were less than 30 percent of their 1991 output levels. ”

"To sum up, neoliberal economics is like a plague, scourging wherever it goes. The reason for this is that neoliberal economics is the product of the local experience of Western countries, and it is not difficult to understand that neoliberal economics has to be packaged as a unified global economic theory, packaged and sold around with universal values, and finally harmed others and oneself.

"Comrades, not long ago, Qiu Youke, Fang Licheng and Zheng Tengyu, the so-called economists, are loyal believers in neoliberal economics."