Heres a blog post this thread needs:
Neoliberalism works for the world?
"The empirical evidence supports Marx’s view that, under capitalism, poverty (as defined) and inequality of income and wealth have not really improved under capitalism, neoliberal or otherwise. Any improvement in poverty levels globally, however measured, is mainly explained by in state-controlled China and any improvement in the quality and length of life comes from the application of science and knowledge through state spending on education, on sewage, clean water, disease prevention and protection, hospitals and better child development. These are things that do not come from capitalism but from the common weal.
So Marx’s prediction 150 years ago that capitalism would lead to greater concentration and centralisation of wealth, in particular, the means of production and finance, has been borne out. Contrary to the optimism and apologia of mainstream economists like Smith, poverty for billions around the world remains the norm, with little sign of improvement, while inequality within the major capitalist economies increases as capital is accumulated and concentrated in ever smaller groups."