Neoliberalism has failed to deliver its promised economic growth, resulting in stagnant development and rising inequality across the globe. Rather than relying on free-market orthodoxy, nations should adopt pragmatic industrial policies that protect infant industries and coordinate long-term investment. South Korea and Singapore demonstrate that success stems from flexible state intervention, including government-linked enterprises and strategic infrastructure support, rather than rigid ideological adherence. The current American attempt to reshore manufacturing remains ineffective because it ignores the lack of corporate investment, as firms prioritize short-term shareholder returns over productivity. Furthermore, AI must be treated as essential public infrastructure, requiring strict regulation to prevent speculative bubbles and the proliferation of misinformation. Ultimately, building a just society requires institutions that reward cooperation, trust, and long-term commitment over the short-term gratification inherent in modern financialized capitalism.
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