Menu Expand
The Rise and Fall of Neoliberalism

The Rise and Fall of Neoliberalism

Tony Bebbington | Doctor Paul Chatterton | Doctor Paul Routledge | Doctor Adam Swain | Adam Tickell | Doctor David Tyfield | Elisa van Waeyenberge | Doctor Ben Fine | Doctor David Miller | Jean Shaoul | Shaun French | Leonith Hinojosa | Professor Bob Jessop | Larry Lohmann | Julie MacLeavy | Doctor Kean Birch | Doctor Vlad Mykhnenko


Additional Information

Book Details


The recent, devastating and ongoing economic crisis has exposed the faultlines in the dominant neoliberal economic order, opening debate for the first time in years on alternative visions that do not subscribe to a ‘free’ market ethic. Bringing together the work of distinguished scholars and dedicated activists, The Rise and Fall of Neoliberalism presents critical perspectives of neoliberal policies, questions the ideas underpinning neoliberalism, and explores diverse responses to it from around the world.
'This book provides useful intellectual tools for deciphering the ideological, social and institutional foundations of neoliberalism and its wide-ranging implications for the still ongoing regulatory reorganization of capitalism.' Neil Brenner, New York University 'This is an outstanding book not only because of the sophisticated critiques offered by some of the most highly regarded thinkers on the topic of the destruction and misery wrought through neoliberal capitalism, but also because its forward looking emphasis on a more egalitarian and hopeful future offers insights about the work that needs to be done by activists and scholars alike.' Nik Heynen, University of Georgia 'This timely and wide ranging book traces the changing contours of neoliberalism, demonstrating how market-oriented policies gave rise to a globally hegemonic political-economic project. The emphasis is on identifying the different forms neoliberalism takes and the diverse responses to it.' Wendy Larner, University of Bristol 'A timely volume on the nature, varied manifestations, and above all limitations of a an economic order that is failing so spectacularly with the financial crisis. Highly recommended for academics, students, or for that matter anyone interested in the politics of our times.' Magnus Ryner, Oxford Brookes University.
Kean Birch is a lecturer in the Department of Geography and Sociology at the University of Strathclyde. Previously he was a research fellow in the Centre for Public Policy for Regions at the University of Glasgow. His main research interests concern the social and geographical basis of different economies and especially the implications that new knowledge, science and technologies have for these economies. He teaches courses on globalisation, neoliberalism and knowledge-based economies. Vlad Mykhnenko is a research fellow in the Department of Geography at the University of Nottingham. Previously he was a research fellow in the Centre for Public Policy for Regions at the University of Glasgow.

Table of Contents

Section Title Page Action Price
About the Editors ii
Acknowledgements vii
About the Contributors viii
INTRODUCTION • A World Turned Right Way Up 1
The Ideological and Historical Origins of Neoliberalism 2
Waves (and Waves) of Neoliberalism 5
Varieties of Neoliberalization: Poor Results and Divergent Trajectories 8
Financialization and the New Neoliberal Order 12
Conclusion: Collapse of the Global Neoliberal Economic Order? 14
References 17
1 How Neoliberalism Got Where It Is: Elite Planning, Corporate Lobbying and the Release of the Free Market 23
Putting the Architecture in Place 25
Elite Planning and the Rise of Thatcherism in Britain 26
Global Elite Planning 33
Conclusion: the Battle of Ideas 37
References 40
2 Making Neoliberal Order in the United States 42
The Politics of Neoliberalism: the Rise of the Conservative Movement 44
Making the Neoliberal-Conservative Order 48
Conclusion 56
References 58
3 Neoliberalism, Intellectual Property and the Global Knowledge Economy 60
Neoliberalism and the Primitive Accumulation of Knowledge Production 60
What is TRIPs? Effects and Significance 64
The US Life Sciences Patent Coalition 67
Conclusion: Post-TRIPs Developments and the Current Crisis 72
Notes 74
References 75
4 Neoliberalism and the Calculable World: the Rise of Carbon Trading 77
What is Carbon Trading? 78
Box 4.1 Carbon Market Construction in Brief 79
Disembedding and Re-embedding: a Second Stage 82
Finance and Securitization 87
Conclusion 89
References 91
5 Tightening the Web: the World Bank and Enforced Policy Reform 94
From Structural Adjustment to Performance-Based Aid 95
Inside Performance-Based Aid (PBA) 97
Box 5.1: CPIA Criteria 97
Beyond the Washington Consensus in World Bank Aid Policies? 99
Tightening the Web: the World Bank and Knowledge 103
Conclusion 106
Notes 107
References 108
6 The Corruption Industry and Transition: Neoliberalizing Post-Soviet Space? 112
Neoliberalism in Crisis: Elephant in the Room or Apparition? 114
The Post-Soviet ‘Corruption Industry’ 117
Figure 6.1. Academic journal publications on the topics of corruption, rent seeking and neoliberalism 118
Figure 6.2. Academic journal publications on the topic of corruptionin post-communist transition states 121
Table 6.1. Corruption and corruption-related indexes and benchmarks of post-Soviet countries 122
Figure 6.3. Transparency International Corruption Perception Index, 2008 124
Conclusion: Neoliberalism and Corruption 127
Acknowledgements 129
References 129
7 Remaking the Welfare State: from Safety Net to Trampoline 133
The Decline of the Post-War Welfare State 134
Neoliberalism and the Workfare State: Key Features 136
Repositioning Workfare 139
Conclusion 147
Note 148
References 148
8 Zombieconomics: the Living Death of the Dismal Science 153
From Marginalist to Formalist Revolution 154
From Formalist to Keynesian Revolution 157
From Keynesian Revolution to Monetarist Counter-Revolution 161
From Monetarist Counter-Revolution to Zombieconomics 164
Conclusion 167
Notes 169
References 169
9 From Hegemony to Crisis? The Continuing Ecological Dominance of Neoliberalism 171
A Typology of Efforts at Neoliberalization 172
Neoliberalism and Economic Determination 175
Table 9.1. Factors relevant to ecological dominance in the relations among societal systems 178
How Neoliberal Globalization Favoured Capital’s Ecological Dominance 181
Conclusions 185
Note 186
References 186
10 Do It Yourself: a Politics for Changing our World 188
The (Re)birth of a New Kind of Politics 188
DIY politics 190
Detours in DIY Politics: Autonomous Social Centres in the UK 191
Seven Principles for a Politics to Change our World 193
Conclusion: from the Ashes of the Crash 202
Notes 203
References 203
11 Dreaming the Real: a Politics of Ethical Spectacles 206
Introduction: Manufacturing Dissent 206
Sites of Intervention: Cultural Activism 207
Dreaming the Real 209
The Clandestine Insurgent Rebel Clown Army 211
Figure 11.1: CIRCA help out with security at Faslane nuclear submarine base, Scotland, July 2005 212
Figure 11.2: CIRCA at the Make Poverty History: Shut Down the G8 Demonstration, Edinburgh, Scotland, July 2005 213
Conclusion: Ethical Spectacles and Full Spectrum Resistance 218
Notes 220
References 220
12 Transnational Companies and Transnational Civil Society 222
Neoliberal Policies and Mining as a State Financial Strategy 224
Neoliberal Mining Expansion, Social Conflict and Civil Society Organizations 226
Mining and Socio-environmental Conflicts in the Andes 228
Conclusion 234
Acknowledgements 237
Notes 237
References 237
13 Defeating Neoliberalism: a Marxist Internationalist Perspective and Programme 239
Neoliberalism: a Response to Developments within the Economic System 241
Financialization: the New Mode of Capital Accumulation 243
The Financial and Economic Crisis of Neoliberalism 248
Defeating Global Capitalism: Challenges and Lessons 249
The Way Forward 252
References 253
CONCLUSION • The End of an Economic Order? 255
The Beginning of the End for Neoliberal Ideology. . . 255
. . . and Western Hegemony 257
Picking through Neoliberal Wreckage: towards a New ‘Old Morals Capitalism’? 260
References 263
Index 269