Neoliberal Resilience : Lessons in Democracy and Development From Latin America and Eastern Europe

**An exploration of the factors behind neoliberalism’s resilience in developing economies and what this could mean for democracy’s future** Since the 1980s, neoliberalism has withstood repeated economic shocks and financial crises to become the hegemonic economic policy worldwide. Why has neoliberalism remained so resilient? What is the relationship between this resiliency and the backsliding of Western democracy? Can democracy survive an increasingly authoritarian neoliberal capitalism? __Neoliberal Resilience__ answers these questions by bringing the developing world’s recent history to the forefront of our thinking about democratic capitalism’s future. Looking at four decades of change in four countries once considered to be leading examples of effective neoliberal policy in Latin America and Eastern Europe—Argentina, Chile, Estonia, and Poland—Aldo Madariaga examines the domestic actors and institutions responsible for defending neoliberalism. Delving into neoliberalism’s political power, Madariaga demonstrates that it is strongest in countries where traditional democratic principles have been slowly and purposefully weakened. He identifies three mechanisms through which coalitions of political, institutional, and financial forces have propagated neoliberalism’s success: the privatization of state companies to create a supporting business class, the use of political institutions to block the representation of alternatives in congress, and the constitutionalization of key economic policies to shield them from partisan influence. Madariaga reflects on today’s most pressing issues, including the influence of increasing austerity measures and the rise of populism. A comparative exploration of political economics at the peripheries of global capitalism, __Neoliberal Resilience__ investigates the tensions between neoliberalism’s longevity and democracy’s gradual decline.

An exploration of the factors behind neoliberalism'sresilience in developing economies and what this could mean fordemocracy's future Since the 1980s, neoliberalism haswithstood repeated economic shocks and financial crises to becomethe hegemonic economic policy worldwide. Why has neoliberalismremained so resilient? What is the relationship between thisresiliency and the backsliding of Western democracy? Can democracysurvive an increasingly authoritarian neoliberal capitalism?Neoliberal Resilience answers these questions by bringingthe developing world's recent history to the forefront of ourthinking about democratic capitalism's future. Looking at fourdecades of change in four countries once considered to be leadingexamples of effective neoliberal policy in Latin America andEastern Europe-Argentina, Chile, Estonia, and Poland-Aldo Madariagaexamines the domestic actors and institutions responsible fordefending neoliberalism. Delving into neoliberalism's politicalpower, Madariaga demonstrates that it is strongest in countrieswhere traditional democratic principles have been slowly andpurposefully weakened. He identifies three mechanisms through whichcoalitions of political, institutional, and financial forces havepropagated neoliberalism's success: the privatization of statecompanies to create a supporting business class, the use ofpolitical institutions to block the representation of alternativesin congress, and the constitutionalization of key economic policiesto shield them from partisan influence. Madariaga reflects ontoday's most pressing issues, including the influence of increasingausterity measures and the rise of populism. A comparativeexploration of political economics at the peripheries of globalcapitalism, Neoliberal Resilience investigates thetensions between neoliberalism's longevity and democracy's gradualdecline.

"Since the 1980s, neoliberalism has withstood repeated economic shocks and financial crises to become the hegemonic economic policy worldwide. Why has neoliberalism remained so resilient? What is the relationship between this resiliency and the backsliding of Western democracy? Can democracy survive an increasingly authoritarian neoliberal capitalism? Neoliberal Resilience answers these questions by bringing the developing world's recent history to the forefront of our thinking about democratic capitalism's future. Looking at four decades of change in four countries once considered to be leading examples of effective neoliberal policy in Latin America and Eastern Europe -- Argentina, Chile, Estonia, and Poland -- Aldo Madariaga examines the domestic actors and institutions responsible for defending neoliberalism. Delving into neoliberalism's political power, Madariaga demonstrates that it is strongest in countries where traditional democratic principles have been slowly and purposefully weakened. He identifies three mechanisms through which coalitions of political, institutional, and financial forces have propagated neoliberalism's success : the privatization of state companies to create a supporting business class, the use of political institutions to block the representation of alternatives in congress, and the constitutionalization of key economic policies to shield them from partisan influence. Madariaga reflects on today's most pressing issues, including the influence of increasing austerity measures and the rise of populism. A comparative exploration of political economics at the peripheries of global capitalism, Neoliberal Resilience investigates the tensions between neoliberalism's longevity and democracy's gradual decline."--Jaquette The puzzling resilience of neoliberalism -- Explaining the resilience of neoliberalism -- Neoliberal policies and supporting actors -- Neoliberal resilience and the crafting of social blocs -- Creating support : privatization and business power -- Blocking opposition : political representation and limited democracy -- Locking-in neoliberalism : independent central banks and fiscal spending rules -- Lessons. Neoliberal resilience and the future of democracy