Advertisement

Neoliberalism

  • Matthew Eagleton-Pierce
Chapter
Part of the Palgrave Handbooks in IPE book series (PHIPE)

Abstract

Neoliberalism has become a common, if contested, frame of reference for International Political Economy (IPE) to understand the governance of the global economy. In examining such complex terrain, this chapter begins by offering four prominent starting points for the analysis of neoliberalism: (1) as a history of intellectual ideas; (2) as a system of enhanced capitalist power; (3) as a cultural examination of everyday conduct; and (4) as a more generic, post-Marxist expression to denote the current zeitgeist. The discussion proceeds to dissect neoliberalism via three major ‘acts’: (1) from the late 1970s to the early 1990s; (2) from the mid-1990s to the mid-2000s; and (3) from the late 2000s to the present. Significant contributions from IPE are discussed in relation to the wider empirical context.

References

  1. Bauer, P. 1981. Equality, the Third World, and Economic Delusion. Cambridge, MA: Harvard University Press.Google Scholar
  2. Bedford, K., and S. Rai. 2010. Feminists Theorise International Political Economy: The State of the Field. Signs 36 (1): 1–18.CrossRefGoogle Scholar
  3. Boas, T.C., and J. Gans-Morse. 2009. Neoliberalism: From New Liberal Philosophy to Anti-Liberal Slogan. Studies in Comparative International Development 44 (2): 137–161.CrossRefGoogle Scholar
  4. Boltanski, L., and E. Chiapello. 2007. The New Spirit of Capitalism. London: Verso.Google Scholar
  5. Bonefeld, W. 2017. The Strong State and the Free Economy. London: Rowman & Littlefield International.Google Scholar
  6. Bourdieu, P. 2003. Firing Back: Against the Tyranny of the Market 2. London: Verso.Google Scholar
  7. Brenner, N., J. Peck, and N. Theodore. 2010. Variegated Neoliberalization: Geographies, Modalities, Pathways. Global Networks 10 (2): 182–222.CrossRefGoogle Scholar
  8. Cerny, P.G. 1997. Paradoxes of the Competition State: The Dynamics of Political Globalization. Government and Opposition 32 (2): 251–274.CrossRefGoogle Scholar
  9. ———. 2008. Embedding Neoliberalism: The Evolution of a Hegemonic Paradigm. The Journal of International Trade and Diplomacy 2 (1): 1–46.Google Scholar
  10. ———. 2016. In the Shadow of Ordoliberalism: The Paradox of Neoliberalism in the 21st Century. European Review of International Studies 3 (1): 78–92.CrossRefGoogle Scholar
  11. Chodor, T. 2015. Neoliberal Hegemony and the Pink Tide in Latin America: Breaking up with TINA? Houndmills: Palgrave Macmillan.CrossRefGoogle Scholar
  12. Chomsky, N. 1998. Profit over people: Neoliberalism and the Global Order. New York: Seven Stories Press.Google Scholar
  13. Chwieroth, J.M. 2010. Capital Ideas: The IMF and the Rise of Financial Liberalization. Princeton University Press: Princeton.Google Scholar
  14. Clarke, J. 2008. Living with/in and without Neo-Liberalism. Focaal – European Journal of Anthropology 51: 135–147.Google Scholar
  15. Cox, R.W. 1987. Production, Power, and World Order: Social Forces in the Making of World History. Columbia: Columbia University Press.Google Scholar
  16. Dardot, P., and C. Laval. 2013. The New Way of the World: On Neoliberal Society. London: Verso.Google Scholar
  17. Dean, M. 2010. Governmentality: Power and Rule in Modern Society. London: Sage.Google Scholar
  18. Duménil, G., and D. Lévy. 2011. The Crisis of Neoliberalism. Cambridge, MA: Harvard University Press.Google Scholar
  19. Eagleton-Pierce, M. 2013. Symbolic Power in the World Trade Organization. Oxford: Oxford University Press.Google Scholar
  20. ———. 2016. Neoliberalism: The Key Concepts. Abingdon: Routledge.CrossRefGoogle Scholar
  21. Elias, J. 2013. Davos Woman to the Rescue of Global Capitalism: Postfeminist Politics and Competitiveness Promotion at the World Economic Forum. International Political Sociology 7 (2): 152–169.CrossRefGoogle Scholar
  22. Erlanger, S. 2008. Sarkozy Stresses Global Financial Overhaul. New York Times, September 25, 2008.Google Scholar
  23. Fine, B., and A. Saad-Filho. 2017. Thirteen Things you Need to Know about Neoliberalism. Critical Sociology 43: 4–5 685–706.CrossRefGoogle Scholar
  24. Foucault, M. 1980. Power/Knowledge: Selected Interviews and Other Writings 1972–1977. London: Harvester Press.Google Scholar
  25. ———. 2008. The Birth of Biopolitics: Lectures at the College de France, 1978–1979. Houndmills: Palgrave Macmillan.Google Scholar
  26. Fraser, N. 2009. Feminism, Capitalism and the Cunning of History. New Left Review 56: 97–117.Google Scholar
  27. Gallagher, K.P. 2008. Understanding Developing Country Resistance to the Doha Round. Review of International Political Economy 15 (1): 62–85.CrossRefGoogle Scholar
  28. Gamble, A. 1979. The Free Economy and the Strong State. The Socialist Register 16: 1–25.Google Scholar
  29. ———. 1994. The Free Economy and the Strong State: The Politics of Thatcherism. Houndmills: Palgrave.CrossRefGoogle Scholar
  30. Gill, S. 1994. Knowledge, Politics, and Neo-Liberal Political Economy. In Political Economy and the Changing Global Order, ed. Richard Stubbs and Geoffrey R.D. Underhill. New York: St Martin’s Press.Google Scholar
  31. ———. 1995. Globalisation, Market Civilisation, and Disciplinary Neoliberalism. Millennium: Journal of International Studies 24 (3): 399–423.CrossRefGoogle Scholar
  32. ———. 1998. New Constitutionalism, Democratisation and Global Political Economy. Pacifica Review: Peace, Security & Global Change 10 (1): 23–38.CrossRefGoogle Scholar
  33. Gill, S., and D. Law. 1989. Global Hegemony and the Structural Power of Capital. International Studies Quarterly 36 (4): 475–499.CrossRefGoogle Scholar
  34. Griffin, P. 2009. Gendering the World Bank: Neoliberalism and the Gendered Foundations of Global Governance. Houndmills: Palgrave Macmillan.CrossRefGoogle Scholar
  35. Harrison, G. 2004. The World Bank and Africa: The Construction of Governance States. London: Routledge.CrossRefGoogle Scholar
  36. Harvey, D. 2005. A Brief History of Neoliberalism. Oxford: Oxford University Press.Google Scholar
  37. Helleiner, E. 2014. The Status Quo Crisis: Global Financial Governance After the 2008 Meltdown. Oxford: Oxford University Press.CrossRefGoogle Scholar
  38. Hobson, J.M., and L. Seabrooke, eds. 2007. Everyday Politics of the World Economy. Cambridge: Cambridge University Press.Google Scholar
  39. Hoekman, B.M., and M.M. Kostecki. 2009. The Political Economy of the World Trading System: The WTO and Beyond. Oxford: Oxford University Press.Google Scholar
  40. Hopewell, K. 2016. Breaking the WTO: How Emerging Powers Disrupted the Neoliberal Project. Stanford: Stanford University Press.Google Scholar
  41. Jackson, B. 2010. At the Origins of Neo-liberalism: The Free Economy and the Strong State, 1930–1947. The Historical Journal 53 (1): 129–151.CrossRefGoogle Scholar
  42. Jessop, B. 2002. The Future of the Capitalist State. Cambridge: Polity Press.Google Scholar
  43. Jones, S.D. 2012. Masters of the Universe: Hayek, Friedman, and the Birth of Neoliberal Politics. Princeton University Press: Princeton.Google Scholar
  44. Konings, M. 2009. Rethinking Neoliberalism and the Subprime Crisis: Beyond the Re-Regulation Agenda. Competition and Change 13 (2): 108–127.CrossRefGoogle Scholar
  45. Krippner, G. 2011. Capitalizing on Crisis: The Political Origins of the Rise of Finance. Cambridge, MA: Harvard University Press.Google Scholar
  46. Krueger, A.O. 1990. Government Failures in Development. Journal of Economic Perspectives 4 (3): 9–23.CrossRefGoogle Scholar
  47. Krugman, P. 1995a. Peddling Prosperity: Economic Sense and Nonsense in an Age of Diminished Expectations. New York: W. W. Norton & Company.Google Scholar
  48. ———. 1995b. Dutch Tulips and Emerging Markets: Another Bubble Bursts. Foreign Affairs, July–August 1995, 28–44.Google Scholar
  49. Lal, D. 1983. The Poverty of ‘Development Economics’. London: Institute of Economic Affairs.Google Scholar
  50. Langley, P. 2008. The Everyday Life of Global Finance: Saving and Borrowing in Anglo-America. Oxford: Oxford University Press.CrossRefGoogle Scholar
  51. Lippmann, W. 2009 [1937]. The Good Society. New Brunswick: Transaction Publishers.Google Scholar
  52. Macartney, H. 2011. Variegated Neoliberalism: Convergent Divergence in EU Varieties of Capitalism. Abingdon: Routledge.Google Scholar
  53. Major, A. 2012. Neoliberalism and the New International Financial Architecture. Review of International Political Economy 19 (4): 536–561.CrossRefGoogle Scholar
  54. Megginson, W.L. 2018. Privatization, State Capitalism, and State Ownership of Business in the 21st Century. Hanover: Now Publishers Inc.Google Scholar
  55. Megginson, W.L., and J.M. Netter. 2001. From State to Market: A Survey of Empirical Studies on Privatization. Journal of Economic Literature 39 (2): 321–389.CrossRefGoogle Scholar
  56. Mirowski, P., and D. Plehwe, eds. 2009. The Road from Mont Pèlerin: The Making of the Neoliberal Thought Collective. Cambridge, MA: Harvard University Press.Google Scholar
  57. Morton, A.D. 2011. Revolution and State in Modern Mexico: The Political Economy of Uneven Development. London: Rowman & Littlefield.Google Scholar
  58. Overbeek, H., and B. van Apeldoorn, eds. 2012. Neoliberalism in Crisis. Houndmills: Palgrave Macmillan.Google Scholar
  59. Panitch, L., and M. Konings, eds. 2008. American Empire and the Political Economy of Global Finance. Houndmills: Palgrave Macmillan.Google Scholar
  60. Parker, D. 2009. The Official History of Privatisation: Volume I: The Formative Years 1970–1987. Abingdon: Routledge.CrossRefGoogle Scholar
  61. Peck, J. 2010. Constructions of Neoliberal Reason. Oxford: Oxford University Press.CrossRefGoogle Scholar
  62. Peck, J., and A. Tickell. 2002. Neoliberalizing Space. Antipode 34 (3): 380–404.CrossRefGoogle Scholar
  63. Peck, J., N. Theodore, and N. Brenner. 2012. Neoliberalism Resurgent? Market Rule After the Great Recession. The South Atlantic Quarterly 111 (2): 265–288.CrossRefGoogle Scholar
  64. Prügl, E. 2017. Neoliberalism with a Feminist Face: Crafting a New Hegemony at the World Bank. Feminist Economics 23 (1): 30–53.CrossRefGoogle Scholar
  65. Roberts, A. 2015. The Political Economy of “Transnational Business Feminism”. International Feminist Journal of Politics 17 (2): 209–231.CrossRefGoogle Scholar
  66. Rodrik, D. 2007. One Economics, Many Recipes: Globalization, Institutions, and Economic Growth. Princeton University Press: Princeton.Google Scholar
  67. Rupert, M.E. 1990. Producing Hegemony: State/Society Relations and the Politics of Productivity in the United States. International Studies Quarterly 34 (4): 427–456.CrossRefGoogle Scholar
  68. ———. 1995. Producing Hegemony: The Politics of Mass Production and American Global Power. Cambridge: Cambridge University Press.Google Scholar
  69. Saad-Filho, A., and D. Johnston, eds. 2004. Neoliberalism: A Critical Reader. Cambridge: Polity Press.Google Scholar
  70. Sen, A. 1999. Development as Freedom. Oxford: Oxford University Press.Google Scholar
  71. Serra, N., and J.E. Stiglitz, eds. 2008. The Washington Consensus Reconsidered: Towards a New Global Governance. Oxford: Oxford University Press.Google Scholar
  72. Shields, S. 2012. The International Political Economy of Transition: Neoliberal Hegemony and Eastern Central Europe. Abingdon: Routledge.Google Scholar
  73. Soederberg, S. 2004. The Politics of the New International Financial Architecture: Reimposing Neoliberal Domination in the Global South. London: Zed Books.Google Scholar
  74. Stiglitz, J.E. 2008. The End of Neo-Liberalism? Project Syndicate, July 7.Google Scholar
  75. Strange, S. 1988. States and Markets: An Introduction to International Political Economy. London: Pinter.Google Scholar
  76. ———. 1996. The Retreat of the State: The Diffusion of Power in the World Economy. Cambridge: Cambridge University Press.CrossRefGoogle Scholar
  77. Theorell-White, B. 2007. The International Financial Architecture and the Limits to Neoliberal Hegemony. New Political Economy 12 (1): 19–41.CrossRefGoogle Scholar
  78. Toye, J. 1987. Dilemmas of Development: Reflections on the Counter-Revolution in Development Theory and Policy. Oxford: Blackwell.Google Scholar
  79. Van Der Pijl, K., and Y. Yurchenko. 2015. Neoliberal Entrenchment of North Atlantic Capital: From Corporate Self-Regulation to State Capture. New Political Economy 20 (4): 495–517.CrossRefGoogle Scholar
  80. Venugopal, R. 2015. Neoliberalism as Concept. Economy and Society 44 (2): 165–187.CrossRefGoogle Scholar
  81. Vogel, S.K. 1998. Freer Markets, More Rules: Regulatory Reform in Advanced Industrial Countries. Ithaca: Cornell University Press.Google Scholar
  82. von Hayek, F.A. 2008 [1944]. The Road to Serfdom. Abingdon: Routledge.Google Scholar
  83. Wacquant, L. 2012. Three Steps to a Historical Anthropology of Actually Existing Neoliberalism. Social Anthropology 20 (1): 66–79.CrossRefGoogle Scholar
  84. Wade, R.H. 2003. What Strategies Are Viable for Developing Countries Today? The World Trade Organization and the Shrinking of “Development Space”. Review of International Political Economy 10 (4): 621–644.CrossRefGoogle Scholar
  85. ———. 2004. Governing the Market: Economic Theory and the Role of Government in East Asian Industrialization. Princeton University Press: Princeton.Google Scholar
  86. World Trade Organization. 2015. International Trade Statistics 2015. Geneva: World Trade Organization.CrossRefGoogle Scholar

Copyright information

© The Author(s) 2019

Authors and Affiliations

  • Matthew Eagleton-Pierce
    • 1
  1. 1.International Political EconomySOAS University of LondonLondonUK

Personalised recommendations