neoliberalism

Topics: Liberalism, Democracy, Liberal democracy Pages: 30 (9399 words) Published: September 24, 2013
T H R E E
I

I

I

I

Neoliberalism and the End
of Liberal Democracy

I

T IS commonplace to speak of the present regime in the United States as a neoconservative one, and to cast as a consolidated “neocon” project present efforts to intensify U.S. military capacity, increase U.S. global hegemony, dismantle the welfare state, retrench civil liberties, eliminate the right to abortion and affirmative action, re-Christianize the state, deregulate corporations, gut environmental protections, reverse progressive taxation, reduce education spending while increasing prison budgets, and feather the nests of the rich while criminalizing the poor. I do not contest the existence of a religious-political project known as neoconservatism or challenge the appropriateness of understanding many of the links between these objectives in terms of a neoconservative agenda. However, I want to think to one side of this agenda in order to consider our current predicament in terms of a neoliberal political rationality, a rationality that exceeds particular positions on particular issues and that undergirds important features of the Clinton decade as well as the Reagan-Bush years. Further, I want to consider the way that this rationality is emerging as governmentality—a mode of governance encompassing but not limited to the state, and one that produces subjects, forms of citizenship and behavior, and a new organization of the social.1

Economic Liberalism, Political Liberalism,
and What Is the Neo in Neoliberalism
In ordinary parlance, neoliberalism refers to the repudiation of Keynesian welfare state economics and the ascendance of the Chicago School of political economy—von Hayek, Friedman, and others. In popular

38

I

CHAPTER THREE

usage, neoliberalism is equated with a radically free market: maximized competition and free trade achieved through economic deregulation, elimination of tariffs, and a range of monetary and social policies favorable to business and indifferent toward poverty, social deracination, cultural decimation, long-term resource depletion, and environmental destruction. Neoliberalism is most often invoked in relation to the Third World, referring either to NAFTA-like schemes that increase the vulnerability of poor nations to the vicissitudes of globalization or to International Monetary Fund and World Bank policies that, through financing packages attached to “restructuring” requirements, yank the chains of every aspect of Third World existence, including political institutions and social formations. For progressives, neoliberalism is thus a pejorative not only because it conjures economic policies that sustain or deepen local poverty and the subordination of peripheral to core nations, but also because it is compatible with, and sometimes even productive of, authoritarian, despotic, paramilitaristic, and corrupt state forms as well as agents within civil society. While these referents capture important effects of neoliberalism, they also reduce neoliberalism to a bundle of economic policies with inadvertent political and social consequences: they fail to address the political rationality that both organizes these policies and reaches beyond the market. Moreover, these referents do not capture the neo in neoliberalism, tending instead to treat the contemporary phenomenon as little more than a revival of classical liberal political economy. Finally, they obscure the specifically political register of neoliberalism in the First World: that is, its powerful erosion of liberal democratic institutions and practices in places like the United States. My concern in this essay is with these neglected dimensions of neoliberalism. One of the more incisive accounts of neoliberal political rationality comes from a surprising quarter: Michel Foucault is not generally heralded as a theorist of liberalism or of political economy. Yet Foucault’s 1978 and 1979 Collège de France lectures, long unpublished,2 consisted...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Neoliberalism Essay
  • Essay on neoliberalism
  • Essay on Neoliberalism
  • Neoliberalism Essay
  • neoliberalism Essay
  • Neoliberalism, A Very Short Introduction Research Paper
  • Corruption and Neoliberalism in the Philippines Research Paper
  • Neoliberalism Essay

Become a StudyMode Member

Sign Up - It's Free
Black Satin (5) | Argument Essay | Mass Effect Andromeda Update v1.09-CODEX