The Quiet Coup

Title: "The Quiet Coup: Neoliberalism and the Looting of America" by Mehrsa Baradaran

Key Themes:

1. Neoliberalism and Its Impact: The book explores how neoliberalism, an economic ideology that advocates for free markets and limited government intervention, has rigged the system in favor of the powerful. Baradaran argues that this ideology has led to increased complexity and unfairness in laws and regulations, benefiting the wealthy at the expense of the many.

2. Legal and Economic Policy: The author delves into how neoliberal policies have transformed the nation's laws, often in unseen ways. This includes the role of key figures like Alan Greenspan and Supreme Court Justice Lewis Powell in shaping these policies.

3. Market Failures and Inequality: Baradaran critiques neoliberalism for its failure to create more wealth or freedom. Instead, it has led to financial instability, accelerating inequality, and enabling crypto fraud.

4. Historical Context: The book traces the history of neoliberalism from the late 1960s to the present, highlighting pivotal moments such as the establishment of the "Law and Economics" approach to legal interpretation and the removal of usury caps.

5. Power Dynamics: The author emphasizes that the rigging of the system was not the work of evil puppet masters but rather the result of actions by law-abiding lawyers, judges, regulators, policymakers, and lobbyists who adhered to a market-centered doctrine.

Plot Summary: While "The Quiet Coup" is not a traditional narrative but rather a critical analysis, it can be summarized as follows:

• Introduction to Neoliberalism: Baradaran introduces the concept of neoliberalism and its influence on American politics and economy.
• Historical Context: The book provides a historical overview of how neoliberal policies were implemented, focusing on key figures and events such as the Powell memo and the establishment of the "Law and Economics" approach.
• Impact on Laws and Regulations: The author explains how these policies led to the creation of complex and unfair laws that benefited the wealthy.
• Case Studies: Baradaran uses specific cases, including the work of Alan Greenspan and the role of the Supreme Court, to illustrate how neoliberalism has shaped the legal and economic landscape.
• Conclusion: The book concludes by arguing that neoliberalism is a failed economic idea that has led to significant social and economic problems in America.

Critical Reception:

• Academic Praise: The book has received positive reviews from academics and critics. For example, Darrick Hamilton, founding director of the Institute on Race, Power and Political Economy at The New School, praises Baradaran's rigor and insights, calling the book "essential reading to understand the economic state of the nation".
• Kirkus Reviews: Kirkus Reviews gave the book a starred review, noting that Baradaran "deftly weaves key events in the history of neoliberalism into a complete picture" and that the book is "both accessible and intellectually rich".
• Authorial Context: Melinda Cooper, author of "Family Values," highlights Baradaran's ability to demonstrate how powerful interests have rigged the laws and regulations under the guise of a 'free market,' emphasizing the irony that neoliberalism did the opposite of making markets more 'free' and government less 'active'.

Overall, "The Quiet Coup" by Mehrsa Baradaran offers a comprehensive critique of neoliberalism, highlighting its profound impact on American society and economy. The book is essential reading for anyone interested in understanding the complex and often hidden mechanisms that have shaped the country's legal and economic policies.