Disclaimer The opinions expressed herein are my own personal opinions and do not represent my employer's view in anyway.
Jamie Peck recalls a moment in September when President Bush vowed to spend "whatever it takes" - as much as $200 billion - to reconstruct the ravaged Gulf Coast after Hurricane Katrina.But the University of Wisconsin-Madison professor notes that lately it appears Bush is backpedaling on that pledge. Peck says the president's change of heart has the fingerprints of "neoliberal" think tanks.No, neoliberal and liberal are not the same thing, and it isn't a very new concept. Peck has made it his life's work to examine the effects of the economic theory on the populace.Peck said conservative think tanks like the Heritage Foundation and the American Enterprise Institute guard the philosophy of neoliberalism: low-taxation, low-spending, anti-welfare, anti-union, and minimal government intervention. That "laissez-faire" approach to economic markets began in the 1970s and has grown to become both the Republican and, lately, Democratic governing economic philosophy, he said.