Advertisement

Conclusion: Resisting Neo-Liberalism

  • John G. Glenn
Chapter
Part of the International Political Economy Series book series (IPES)

Abstract

This chapter concludes that resilience thinking should be seen as part of a wider practice of neo-liberal enframing, one which typically involves a process of responsibilization. In the particular case of catastrophes, the emphasis is on the post hoc adaptability of individuals/communities and the various capacities they possess to enable them to bounce back from such shocks. Several issues arise with regard to the economy from such enframing. First, there is an implicit levelling of responsibility, where individuals and communities are expected to mine their own resources and capacities in order to survive such shocks. Resilience thinking has little to say with regard to social structures/agency concerning positions of power and the benefits that accrue from such positions as well as responsibility for the policies that greatly exacerbate the contradictions inherent within the capitalist system. In practice, this is clearly seen in the current austerity policies implemented across Europe. Those least responsible for the crisis have felt the greatest economic deprivation. The aforementioned ‘naturalistic fallacy’ with regard to the economic order also promotes such a perspective. By viewing finance as something akin to an organic homeostatic system, a social construction permeated by power relations and agents who have an interest in maintaining the economic order is rendered agentless and self-perpetuating.

The chapter therefore argues that a more fruitful avenue is to examine the current period in terms of power and resistance, rather than resilience (although one must be resilient in order to survive crises and resist). For Foucault, although there is a multitude of multifaceted relations of power and resistance, he argues that we can identity three main types of struggles—‘either against forms of domination (ethnic, social, and religious); against forms of exploitation which separate individuals from what they produce; or against that which ties the individual to himself and submits him to others in this way (struggles against subjection, against forms of subjectivity and submission)’ (Foucault, Crit Inq 8(4):777–795, 1982, p. 781).

Keywords

Enframing Economic reforms Resilience thinking Social stratification Resistance 

References

  1. Aitken, R. 2007. Performing Capital: Toward a Cultural Economy of Popular and Global Finance. Basingstoke: Palgrave Macmillan.CrossRefGoogle Scholar
  2. Beck, U. 2008. Risk Society’s “Cosmopolitan Moment”. Harvard Lecture, November 12. http://www.labjor.unicamp.br/comciencia/files/risco/AR-UlrichBeck-Harvard.pdf
  3. Braithwaite, J. 2008. Regulatory Capitalism: How It Works, Ideas for Making It Work Better. Cheltenham: Edward Elgar.CrossRefGoogle Scholar
  4. Chandler, D. 2014. Resilience: The Governance of Complexity. London: Routledge.CrossRefGoogle Scholar
  5. CMS. 2012. The New European System of Financial Supervision – Institutional Reform Within the EU, March. http://www.law-now.com/cmck/pdfs/ nonsecured/ neweuropean reform.pdf
  6. Cooper, M. 2006. Pre-empting Emergence: The Biological Turn in the War on Terror. Theory, Culture & Society 23 (4): 113–135.CrossRefGoogle Scholar
  7. Dean, M. 1994. Critical and Effective Histories: Foucault’s Methods and Historical Sociology. London: Routledge.Google Scholar
  8. Foucault, M. 1978. History of Sexuality Vol. 1: Translated by Robert Hurley. New York: Pantheon Books.Google Scholar
  9. ———. 1982. The Subject and Power. Critical Inquiry 8 (4): 777–795.CrossRefGoogle Scholar
  10. Germain, R. 2010. Financial Governance and Deliberative Democracy. Review of International Studies 36 (2): 493–509.CrossRefGoogle Scholar
  11. Gordon, C. 1980. Power/Knowledge: Selected Interviews and Other Writings 1972–1977. New York: Pantheon Books.Google Scholar
  12. Heller, K. 1996. Power, Subjectification and Resistance in Foucault. Substance 25 (1): 78–110.CrossRefGoogle Scholar
  13. Laclau, E., and C. Mouffe. 2001. Hegemony and Socialist Strategy Towards a Radical Democratic Politics. 2nd ed. London: Verso.Google Scholar
  14. Pagliari, S., ed. 2012. The Making of Good Financial Regulation Towards a Policy Response to Regulatory Capture, June. http://www.icffr.org/assets/pdfs/June-2012/ICFR-Regulatory-Capture-Book-25-June---The-Making-.aspx
  15. Porter, T. 2005. Globalization and Finance. Cambridge: Polity Press.Google Scholar
  16. Porter, T., and K. Ronit. 2006. Self-Regulation as Policy Process: The Multiple and Criss-Crossing Stages of Private Rule-Making. Policy Sciences 39: 41–72.CrossRefGoogle Scholar
  17. The Economist. 2010a. Not All on the Same Page: America’s Congress Nears Agreement on a Financial-Reform Bill, But the Final Shape of the New Regime Is Unclear. The International Picture Is Murkier Still, July 2–9, pp. 71–73.Google Scholar
  18. ———. 2010b. Beyond Bretton Woods 2, November 6–12, pp. 85–7.Google Scholar
  19. ———. 2014. American Banks: A Harsh Light – A Handful of Banks Are Caught Short by the Fed’s Annual Stress Test, 29 March–4 April, p. 77.Google Scholar
  20. Underhill, G., J. Blom, and D. Mügge. 2010. Global Financial Integration Thirty Years On: From Reform to Crisis. New York: Cambridge University Press.CrossRefGoogle Scholar

Copyright information

© The Author(s) 2019

Authors and Affiliations

  • John G. Glenn
    • 1
  1. 1.Politics and International RelationsUniversity of SouthamptonSouthamptonUK

Personalised recommendations