The Rise and Fall of Neoliberalism : The Collapse of an Economic Order?

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. In particular, the core contradiction at the heart of neoliberalism -- that states are necessary for the functioning of free markets -- provides us with the opportunity to think again about how we want to organise our economies and societies. __The Rise and Fall of Neloberalism__ presents critical perspectives of neoliberal policies, questions the ideas underpinning neoliberalism, and explores diverse response to it from around the world. In bringing together the work of distinguished scholars and dedicated activists to question neoliberal hegemony, the book exposes the often fractured and multifarious manifestations of neoliberalism which will have to be challenged to bring about meaningful social change. About the Editors 3 Acknowledgements 8 About the Contributors 9 INTRODUCTION • A World Turned Right Way Up 10 The Ideological and Historical Origins of Neoliberalism 11 Waves (and Waves) of Neoliberalism 14 Varieties of Neoliberalization: Poor Results and Divergent Trajectories 17 Financialization and the New Neoliberal Order 21 Conclusion: Collapse of the Global Neoliberal Economic Order? 23 References 26 PART ONE • THE RISE OF NEOLIBERALISM 30 1 How Neoliberalism Got Where It Is: Elite Planning, Corporate Lobbying and the Release of the Free Market 32 Putting the Architecture in Place 34 Elite Planning and the Rise of Thatcherism in Britain 35 Global Elite Planning 42 Conclusion: the Battle of Ideas 46 References 49 2 Making Neoliberal Order in the United States 51 The Politics of Neoliberalism: the Rise of the Conservative Movement 53 Making the Neoliberal-Conservative Order 57 Conclusion 65 References 67 3 Neoliberalism, Intellectual Property and the Global Knowledge Economy 69 Neoliberalism and the Primitive Accumulation of Knowledge Production 69 What is TRIPs? Effects and Significance 73 The US Life Sciences Patent Coalition 76 Conclusion: Post-TRIPs Developments and the Current Crisis 81 Notes 83 References 84 4 Neoliberalism and the Calculable World: the Rise of Carbon Trading 86 What is Carbon Trading? 87 Box 4.1 Carbon Market Construction in Brief 88 Disembedding and Re-embedding: a Second Stage 91 Finance and Securitization 96 Conclusion 98 References 100 5 Tightening the Web: the World Bank and Enforced Policy Reform 103 From Structural Adjustment to Performance-Based Aid 104 Inside Performance-Based Aid (PBA) 106 Box 5.1: CPIA Criteria 106 Beyond the Washington Consensus in World Bank Aid Policies? 108 Tightening the Web: the World Bank and Knowledge 112 Conclusion 115 Notes 116 References 117 6 The Corruption Industry and Transition: Neoliberalizing Post-Soviet Space? 121 Neoliberalism in Crisis: Elephant in the Room or Apparition? 123 The Post-Soviet ‘Corruption Industry’ 126 Figure 6.1. Academic journal publications on the topics of corruption, rent seeking and neoliberalism 127 Figure 6.2. Academic journal publications on the topic of corruptionin post-communist transition states 130 Table 6.1. Corruption and corruption-related indexes and benchmarks of post-Soviet countries 131 Figure 6.3. Transparency International Corruption Perception Index, 2008 133 Conclusion: Neoliberalism and Corruption 136 Acknowledgements 138 References 138 7 Remaking the Welfare State: from Safety Net to Trampoline 142 The Decline of the Post-War Welfare State 143 Neoliberalism and the Workfare State: Key Features 145 Repositioning Workfare 148 Conclusion 156 Note 157 References 157 PART TWO • THE FALL OF NEOLIBERALISM 160 8 Zombieconomics: the Living Death of the Dismal Science 162 From Marginalist to Formalist Revolution 163 From Formalist to Keynesian Revolution 166 From Keynesian Revolution to Monetarist Counter-Revolution 170 From Monetarist Counter-Revolution to Zombieconomics 173 Conclusion 176 Notes 178 References 178 9 From Hegemony to Crisis? The Continuing Ecological Dominance of Neoliberalism 180 A Typology of Efforts at Neoliberalization 181 Neoliberalism and Economic Determination 184 Table 9.1. Factors relevant to ecological dominance in the relations among societal systems 187 How Neoliberal Globalization Favoured Capital’s Ecological Dominance 190 Conclusions 194 Note 195 References 195 10 Do It Yourself: a Politics for Changing our World 197 The (Re)birth of a New Kind of Politics 197 DIY politics 199 Detours in DIY Politics: Autonomous Social Centres in the UK 200 Seven Principles for a Politics to Change our World 202 Conclusion: from the Ashes of the Crash 211 Notes 212 References 212 11 Dreaming the Real: a Politics of Ethical Spectacles 215 Introduction: Manufacturing Dissent 215 Sites of Intervention: Cultural Activism 216 Dreaming the Real 218 The Clandestine Insurgent Rebel Clown Army 220 Figure 11.1: CIRCA help out with security at Faslane nuclear submarine base, Scotland, July 2005 221 Figure 11.2: CIRCA at the Make Poverty History: Shut Down the G8 Demonstration, Edinburgh, Scotland, July 2005 222 Conclusion: Ethical Spectacles and Full Spectrum Resistance 227 Notes 229 References 229 12 Transnational Companies and Transnational Civil Society 231 Neoliberal Policies and Mining as a State Financial Strategy 233 Neoliberal Mining Expansion, Social Conflict and Civil Society Organizations 235 Mining and Socio-environmental Conflicts in the Andes 237 Conclusion 243 Acknowledgements 246 Notes 246 References 246 13 Defeating Neoliberalism: a Marxist Internationalist Perspective and Programme 248 Neoliberalism: a Response to Developments within the Economic System 250 Financialization: the New Mode of Capital Accumulation 252 The Financial and Economic Crisis of Neoliberalism 257 Defeating Global Capitalism: Challenges and Lessons 258 The Way Forward 261 References 262 CONCLUSION • The End of an Economic Order? 264 The Beginning of the End for Neoliberal Ideology. . . 264 . . . and Western Hegemony 266 Picking through Neoliberal Wreckage: towards a New ‘Old Morals Capitalism’? 269 References 272 Index 278 1848133480,9781848133488,1848133499,9781848133495 Zed Books 2010 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.--from Publisher Description. Introduction : A World Turned Right Way Up / Kean Birch And Vlad Mykhnenko -- How Neoliberalism Got Where It Is : Elite Planning, Corporate Lobbying And The Release Of The Free Market / David Miller -- Making Neoliberal Order In The United States / Kean Birch And Adam Tickell -- Neoliberalism, Intellectual Property And The Global Knowledge Economy / David Tyfield -- Neoliberalism And The Calculable World : The Rise Of Carbon Trading / Larry Lohmann -- Tightening The Web : The World Bank And Enforced Policy Reform / Elisa Van Waeyenberge -- The Corruption Industry And Transition : Neoliberalizing Post-soviet Space? / Adam Swain, Vlad Mykhnenko And Shaun French -- Remaking The Welfare State : From Safety Net To Trampoline / Julie Macleavy -- Zombieconomics : The Living Death Of The Dismal Science / Ben Fine -- From Hegemony To Crisis? : The Continuing Ecological Dominance Of Neoliberalism / Bob Jessop -- Do It Yourself : A Politics For Changing Our World / Paul Chatterton -- Dreaming The Real : A Politics Of Ethical Spectacles / Paul Routledge -- Transnational Companies And Transnational Civil Society / Leonith Hinojosa And Anthony Bebbington -- Defeating Neoliberalism : A Marxist Internationalist Perspective And Programme / Jean Shaoul -- Conclusion : The End Of An Economic Order? / Vlad Mykhnenko And Kean Birch. Edited By Kean Birch And Vlad Mykhnenko. Includes Bibliographical References And Index. Introduction : a world turned right way up / Kean Birch and Vlad Mykhnenko -- How neoliberalism got where it is : elite planning, corporate lobbying and the release of the free market / David Miller -- Making neoliberal order in the United States / Kean Birch and Adam Tickell -- Neoliberalism, intellectual property and the global knowledge economy / David Tyfield -- Neoliberalism and the calculable world : the rise of carbon trading / Larry Lohmann -- Tightening the web : the World Bank and enforced policy reform / Elisa van Waeyenberge -- The corruption industry and transition : neoliberalizing post-Soviet space? / Adam Swain, Vlad Mykhnenko and Shaun French -- Remaking the welfare state : from safety net to trampoline / Julie MacLeavy -- Zombieeconomics : the living death of the dismal science / Ben Fine -- From hegemony to crisis? : the continuing ecological dominance of neoliberalism / Bob Jessop -- Do it yourself : a politics for changing our world / Paul Chatterton -- Dreaming the real : a politics of ethical spectacles / Paul Routledge -- Transnational companies and transnational civil society / Leonith Hinojosa and Anthony Bebbington -- Defeating neoliberalism : a Marxist internationalist perspective and programme / Jean Shaoul -- Conclusion : the end of an economic order? / Vlad Mykhnenko and Kean Birch Presents critical perspectives of neoliberal policies, questions the ideas underpinning neoliberalism, and explores diverse response to it from around the world. This book exposes the often fractured and multifarious manifestations of neoliberalism which may have to be challenged to bring about meaningful social change.