Jamie Peck
- Published in print:
- 2010
- Published Online:
- January 2011
- ISBN:
- 9780199580576
- eISBN:
- 9780191595240
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199580576.003.0002
- Subject:
- Business and Management, Political Economy
This chapter presents a genealogy of neoliberalism as a free-market ideational program, from the early decades of the 20th century through to its consummation with state power in the 1970s. ...
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This chapter presents a genealogy of neoliberalism as a free-market ideational program, from the early decades of the 20th century through to its consummation with state power in the 1970s. Neoliberalism was born as a contradictory and contested project, specifically through a series of situated, sympathetic critiques of 19th-century laissez-faire. These were played out, most explicitly, through the work of the Mont Pelerin Society and its associated networks, though these have often been spaces of debate and contestation. In this sense, neoliberalism has always been an open-ended, plural, and adaptable project. At the heart of this lies its contradictory embrace of liberty and order — what can be seen as its ‘Chicago School’ and ‘Ordoliberal’ faces of neoliberalism, respectively. Highlighting the constructed nature of neoliberalism's ideational project, the chapter exposes some of the ‘hidden hands’ that shaped this purposive critique of, and alternative to, Keynesianism.Less
This chapter presents a genealogy of neoliberalism as a free-market ideational program, from the early decades of the 20th century through to its consummation with state power in the 1970s. Neoliberalism was born as a contradictory and contested project, specifically through a series of situated, sympathetic critiques of 19th-century laissez-faire. These were played out, most explicitly, through the work of the Mont Pelerin Society and its associated networks, though these have often been spaces of debate and contestation. In this sense, neoliberalism has always been an open-ended, plural, and adaptable project. At the heart of this lies its contradictory embrace of liberty and order — what can be seen as its ‘Chicago School’ and ‘Ordoliberal’ faces of neoliberalism, respectively. Highlighting the constructed nature of neoliberalism's ideational project, the chapter exposes some of the ‘hidden hands’ that shaped this purposive critique of, and alternative to, Keynesianism.
Anita Chari
- Published in print:
- 2015
- Published Online:
- May 2016
- ISBN:
- 9780231173896
- eISBN:
- 9780231540384
- Item type:
- chapter
- Publisher:
- Columbia University Press
- DOI:
- 10.7312/columbia/9780231173896.003.0002
- Subject:
- Philosophy, Political Philosophy
This chapter explores debates between neo-Marxists and radical democrats as an important feature of the ideological structure of neoliberal societies. This chapter argues that the impasse created ...
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This chapter explores debates between neo-Marxists and radical democrats as an important feature of the ideological structure of neoliberal societies. This chapter argues that the impasse created between the economic and the political in debates between neo-Marxists and radical democrats is a symptom of the ambivalent relationship between the neoliberal State and the economy.Less
This chapter explores debates between neo-Marxists and radical democrats as an important feature of the ideological structure of neoliberal societies. This chapter argues that the impasse created between the economic and the political in debates between neo-Marxists and radical democrats is a symptom of the ambivalent relationship between the neoliberal State and the economy.
Roger E. Backhouse, Bradley W. Bateman, Tamotsu Nishizawa, and Dieter Plehwe (eds)
- Published in print:
- 2017
- Published Online:
- July 2017
- ISBN:
- 9780190676681
- eISBN:
- 9780190676711
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780190676681.001.0001
- Subject:
- Economics and Finance, Macro- and Monetary Economics, Public and Welfare
The welfare state has, over the past 40 years, come under increasing attack from liberals who consider comprehensive welfare provision inimical to liberalism. Yet many of the architects of the ...
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The welfare state has, over the past 40 years, come under increasing attack from liberals who consider comprehensive welfare provision inimical to liberalism. Yet many of the architects of the post–World War II welfare states were liberals. Taking as examples three cases not often considered together—Britain, Germany, and Japan—this volume investigates the thinking of liberal economists about welfare. The first part explores the early history of welfare thinking, from the British New Liberals of the early twentieth century, to German ordoliberals and postwar Japanese liberal economists. This is followed by four chapters on neoliberalism under British Conservative and New Labour governments, after German reunification, and under Koizumi in Japan. The final two chapters explore neoliberal ideas on federalism and the response of neoliberal think tanks to the global financial crisis. These are some of the most important findings: Across the different countries, support emerged very early on for social minimum standards, but strong disagreements quickly developed, dividing economists into pro and contra camps, shaping the different regimes. In the age of retrenchment, means-tested programs, private insurance, and temporary relief in times of crisis appear to have become the norm. The strong impact of efficiency-related critiques of welfare regimes has crowded out more nuanced and complex discussions of the past. Yet neither liberalism nor economic ideas in general can be considered inimical to well-designed welfare provision. The debate on economics and welfare can be improved by considering different lineages of both liberal and neoliberal lines of economic thought.Less
The welfare state has, over the past 40 years, come under increasing attack from liberals who consider comprehensive welfare provision inimical to liberalism. Yet many of the architects of the post–World War II welfare states were liberals. Taking as examples three cases not often considered together—Britain, Germany, and Japan—this volume investigates the thinking of liberal economists about welfare. The first part explores the early history of welfare thinking, from the British New Liberals of the early twentieth century, to German ordoliberals and postwar Japanese liberal economists. This is followed by four chapters on neoliberalism under British Conservative and New Labour governments, after German reunification, and under Koizumi in Japan. The final two chapters explore neoliberal ideas on federalism and the response of neoliberal think tanks to the global financial crisis. These are some of the most important findings: Across the different countries, support emerged very early on for social minimum standards, but strong disagreements quickly developed, dividing economists into pro and contra camps, shaping the different regimes. In the age of retrenchment, means-tested programs, private insurance, and temporary relief in times of crisis appear to have become the norm. The strong impact of efficiency-related critiques of welfare regimes has crowded out more nuanced and complex discussions of the past. Yet neither liberalism nor economic ideas in general can be considered inimical to well-designed welfare provision. The debate on economics and welfare can be improved by considering different lineages of both liberal and neoliberal lines of economic thought.
Cornel Ban
- Published in print:
- 2016
- Published Online:
- August 2016
- ISBN:
- 9780190600389
- eISBN:
- 9780190600419
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780190600389.001.0001
- Subject:
- Political Science, Political Economy, International Relations and Politics
Economic ideas with global reach are powerful because their domestic translators make them go local, hybridizing global scripts with local ideas, with intellectual legacies, transnational expert ...
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Economic ideas with global reach are powerful because their domestic translators make them go local, hybridizing global scripts with local ideas, with intellectual legacies, transnational expert networks and resources shaping the form of the local hybrid. This does not mean that all local translations shape policy, however. External constraints and translators’ access to cohesive policy institutions filter what kind of hybrids become policy reality. By comparing the moderate neoliberalism that prevails in Spain with the more radical one that shapes policy thinking in Romania, the book explains why neoliberal hybrids took such different forms and how they survived the post-2008 crisis. Ruling Ideas covers an extended historical period, starting with the Franco period in Spain and the Ceauşescu period in Romania, covers these countries’ economic integration into the EU, and continues through Europe’s Great Recession and the European debt crisis. The broad historical coverage enables a careful analysis of how neoliberalism rules in times of stability and crisis and under different political systems.Less
Economic ideas with global reach are powerful because their domestic translators make them go local, hybridizing global scripts with local ideas, with intellectual legacies, transnational expert networks and resources shaping the form of the local hybrid. This does not mean that all local translations shape policy, however. External constraints and translators’ access to cohesive policy institutions filter what kind of hybrids become policy reality. By comparing the moderate neoliberalism that prevails in Spain with the more radical one that shapes policy thinking in Romania, the book explains why neoliberal hybrids took such different forms and how they survived the post-2008 crisis. Ruling Ideas covers an extended historical period, starting with the Franco period in Spain and the Ceauşescu period in Romania, covers these countries’ economic integration into the EU, and continues through Europe’s Great Recession and the European debt crisis. The broad historical coverage enables a careful analysis of how neoliberalism rules in times of stability and crisis and under different political systems.
Ioannis Lianos
- Published in print:
- 2014
- Published Online:
- September 2014
- ISBN:
- 9780804789394
- eISBN:
- 9780804791625
- Item type:
- chapter
- Publisher:
- Stanford University Press
- DOI:
- 10.11126/stanford/9780804789394.003.0003
- Subject:
- Law, Competition Law
Current accounts of the interaction between competition law and state activities are based on a clear-cut old liberalism style distinction between “state”/“government” and “market” that does not take ...
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Current accounts of the interaction between competition law and state activities are based on a clear-cut old liberalism style distinction between “state”/“government” and “market” that does not take into account the emergence of the neoliberal state. By advancing a “bureaucratic-centered theory” of the competition law and state interaction, this chapter offers an alternative interdisciplinary theoretical framework that can be successfully transposed into different institutional and cultural settings.Less
Current accounts of the interaction between competition law and state activities are based on a clear-cut old liberalism style distinction between “state”/“government” and “market” that does not take into account the emergence of the neoliberal state. By advancing a “bureaucratic-centered theory” of the competition law and state interaction, this chapter offers an alternative interdisciplinary theoretical framework that can be successfully transposed into different institutional and cultural settings.
Harald Hagemann
- Published in print:
- 2017
- Published Online:
- July 2017
- ISBN:
- 9780190676681
- eISBN:
- 9780190676711
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780190676681.003.0004
- Subject:
- Economics and Finance, Macro- and Monetary Economics, Public and Welfare
The chapter deals with the development of the welfare state in the first three decades after World War II, in which the West German economy ran through a remarkable catching-up process. Economic ...
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The chapter deals with the development of the welfare state in the first three decades after World War II, in which the West German economy ran through a remarkable catching-up process. Economic policy in the new Federal Republic of Germany in that period was decisively shaped and influenced by the ordoliberal ideas of Walter Eucken and the Freiburg school and the principles of the social-market economy. Whereas Keynesianism of the Hicks-Samuelson neoclassical synthesis had already evolved into the dominant view in the academic sphere during the 1950s, it took until the 1966–67 recession for Keynesianism to find a late (and short) entry into German economic policy with the entry of the Social Democrats into government and their charismatic minister of economics, Karl Schiller.Less
The chapter deals with the development of the welfare state in the first three decades after World War II, in which the West German economy ran through a remarkable catching-up process. Economic policy in the new Federal Republic of Germany in that period was decisively shaped and influenced by the ordoliberal ideas of Walter Eucken and the Freiburg school and the principles of the social-market economy. Whereas Keynesianism of the Hicks-Samuelson neoclassical synthesis had already evolved into the dominant view in the academic sphere during the 1950s, it took until the 1966–67 recession for Keynesianism to find a late (and short) entry into German economic policy with the entry of the Social Democrats into government and their charismatic minister of economics, Karl Schiller.
Mark I. Vail
- Published in print:
- 2018
- Published Online:
- January 2018
- ISBN:
- 9780190683986
- eISBN:
- 9780190684020
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780190683986.003.0002
- Subject:
- Political Science, Comparative Politics, Political Economy
This chapter analyzes the development of French, German, and Italian liberalism from the nineteenth century to the 1980s, giving particular attention to each tradition’s conceptions of the role of ...
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This chapter analyzes the development of French, German, and Italian liberalism from the nineteenth century to the 1980s, giving particular attention to each tradition’s conceptions of the role of the state and its relationship to groups and individual citizens. Using a broad range of historical source material and the works of influential political philosophers, it outlines the analytical frameworks central to French “statist liberalism,” German “corporate liberalism,” and Italian “clientelist liberalism.” It shows how these evolving traditions shaped the structure of each country’s postwar political-economic model and the policy priorities developed during the postwar boom through the early 1970s and provides conceptual touchstones for the direction and character of these traditions’ evolution in the face of the neoliberal challenge since the 1990s. The chapter demonstrates that each tradition accepted elements of a more liberal economic order while rejecting neoliberalism’s messianic market-making agenda and its abstract and disembedded political-economic vision.Less
This chapter analyzes the development of French, German, and Italian liberalism from the nineteenth century to the 1980s, giving particular attention to each tradition’s conceptions of the role of the state and its relationship to groups and individual citizens. Using a broad range of historical source material and the works of influential political philosophers, it outlines the analytical frameworks central to French “statist liberalism,” German “corporate liberalism,” and Italian “clientelist liberalism.” It shows how these evolving traditions shaped the structure of each country’s postwar political-economic model and the policy priorities developed during the postwar boom through the early 1970s and provides conceptual touchstones for the direction and character of these traditions’ evolution in the face of the neoliberal challenge since the 1990s. The chapter demonstrates that each tradition accepted elements of a more liberal economic order while rejecting neoliberalism’s messianic market-making agenda and its abstract and disembedded political-economic vision.
Oliver Gerstenberg
- Published in print:
- 2018
- Published Online:
- February 2019
- ISBN:
- 9780198834335
- eISBN:
- 9780191872433
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780198834335.003.0002
- Subject:
- Law, Constitutional and Administrative Law
At a first glance, to many observers the EU may appear to be an improbable illustration of the possibility of an extension of legitimacy and democratic justice beyond the state. In contemporary ...
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At a first glance, to many observers the EU may appear to be an improbable illustration of the possibility of an extension of legitimacy and democratic justice beyond the state. In contemporary European constitutional debate constitutionalism and social democracy have become antagonists, with the survival of the one seeming to require sacrifice of the other. Authors in the tradition of ordoliberalism have celebrated the Europeanization process because it seemed to ultimately disconnect constitutionalism from democratic practice and to firmly entrench a logic of market evolution that marginalizes politics. Social democrats, by contrast, have come to believe that democracy can only flourish if the solidary politics of the nation retains its sovereignty against cosmopolitan, ‘constitutional’ intrusions from without. Proposals to deepen constitutional integration therefore give rise to the social-democratic objection. This chapter offers a stylized account of both views, which more or less mirror one another. This chapter then also provides an in-depth analysis of the CJEU’s jurisprudence in various domains regarding the efficacy of the Charter of Fundamental Rights of the EU (CFREU) in European private law: employment law and unfair terms in consumer contracts in particular. The chapter concludes that, contrary to expectations and concerns about a constitutional asymmetry between economic freedoms and fundamental social rights, the CJEU has in fact in many cases raised the standard of protection beyond the standard envisaged by national legal orders, thereby unblocking development.Less
At a first glance, to many observers the EU may appear to be an improbable illustration of the possibility of an extension of legitimacy and democratic justice beyond the state. In contemporary European constitutional debate constitutionalism and social democracy have become antagonists, with the survival of the one seeming to require sacrifice of the other. Authors in the tradition of ordoliberalism have celebrated the Europeanization process because it seemed to ultimately disconnect constitutionalism from democratic practice and to firmly entrench a logic of market evolution that marginalizes politics. Social democrats, by contrast, have come to believe that democracy can only flourish if the solidary politics of the nation retains its sovereignty against cosmopolitan, ‘constitutional’ intrusions from without. Proposals to deepen constitutional integration therefore give rise to the social-democratic objection. This chapter offers a stylized account of both views, which more or less mirror one another. This chapter then also provides an in-depth analysis of the CJEU’s jurisprudence in various domains regarding the efficacy of the Charter of Fundamental Rights of the EU (CFREU) in European private law: employment law and unfair terms in consumer contracts in particular. The chapter concludes that, contrary to expectations and concerns about a constitutional asymmetry between economic freedoms and fundamental social rights, the CJEU has in fact in many cases raised the standard of protection beyond the standard envisaged by national legal orders, thereby unblocking development.
Andy Smith
- Published in print:
- 2016
- Published Online:
- October 2016
- ISBN:
- 9780198788157
- eISBN:
- 9780191830136
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198788157.003.0005
- Subject:
- Political Science, Political Economy
In addressing the question of the extent to which the EU makes a difference to economic activity within and without its borders, chapter 4 questions the Freedom–Security relationship firstly over the ...
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In addressing the question of the extent to which the EU makes a difference to economic activity within and without its borders, chapter 4 questions the Freedom–Security relationship firstly over the pricing of pharmaceuticals and secondly around the regulation of inter-firm competition. The first case highlights how although the Freedom of large medicine manufacturers still tends to dominate EU government of this industry, calls for change in pricing practice are currently gaining more traction thanks to renewed definitions of Security that frequently take support from the value of Equality. Indeed, contrasting definitions of the latter—either as equal access for producers or as an egalitarian principle—also feature strongly in recent conflicts within neoliberalism that have split the makers and implementers of EU competition policy. The chapter as a whole thus shows that, the EU and its member states currently face a number of unresolved dilemmas about value hierarchization.Less
In addressing the question of the extent to which the EU makes a difference to economic activity within and without its borders, chapter 4 questions the Freedom–Security relationship firstly over the pricing of pharmaceuticals and secondly around the regulation of inter-firm competition. The first case highlights how although the Freedom of large medicine manufacturers still tends to dominate EU government of this industry, calls for change in pricing practice are currently gaining more traction thanks to renewed definitions of Security that frequently take support from the value of Equality. Indeed, contrasting definitions of the latter—either as equal access for producers or as an egalitarian principle—also feature strongly in recent conflicts within neoliberalism that have split the makers and implementers of EU competition policy. The chapter as a whole thus shows that, the EU and its member states currently face a number of unresolved dilemmas about value hierarchization.
Daniel Crane
- Published in print:
- 2013
- Published Online:
- April 2015
- ISBN:
- 9780199782796
- eISBN:
- 9780190261351
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:osobl/9780199782796.003.0008
- Subject:
- Economics and Finance, History of Economic Thought
This chapter considers the development of German and European competition law, particularly Ordoliberalism and the Freiburg school of economic thought. It discusses the accounts of Franz Bohm, Walter ...
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This chapter considers the development of German and European competition law, particularly Ordoliberalism and the Freiburg school of economic thought. It discusses the accounts of Franz Bohm, Walter Eucken, Hans Grossman-Doerty, and other ordoliberals. It looks into Ordoliberalism's policies and uses them as contrast and comparison to the development of English and American ideas concerning competition law. It also investigates some of the past and present ideological differences between antitrust law in Brussels and Washington.Less
This chapter considers the development of German and European competition law, particularly Ordoliberalism and the Freiburg school of economic thought. It discusses the accounts of Franz Bohm, Walter Eucken, Hans Grossman-Doerty, and other ordoliberals. It looks into Ordoliberalism's policies and uses them as contrast and comparison to the development of English and American ideas concerning competition law. It also investigates some of the past and present ideological differences between antitrust law in Brussels and Washington.
Cornel Ban
- Published in print:
- 2016
- Published Online:
- August 2016
- ISBN:
- 9780190600389
- eISBN:
- 9780190600419
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780190600389.003.0004
- Subject:
- Political Science, Political Economy, International Relations and Politics
The fact that the global dissemination of neoliberalism during the 1970s found postauthoritarian Spain with a critical mass of internationalized policy economists exposed to competing Keynesian and ...
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The fact that the global dissemination of neoliberalism during the 1970s found postauthoritarian Spain with a critical mass of internationalized policy economists exposed to competing Keynesian and ordoliberal influences gave Spanish neoliberalism its moderate flavor. In postwar Spain, the relatively liberal regulation of the economics profession, the Western training of many key economists and the exposure to neoclassical economics of many academics during the interwar years facilitated the gradual spread of neoclassical economic ideas in both the central bank and academia. However, Anglo-American neoclassical economics had a major competitor in the local translation of Germany’s ordoliberalism, which contributed to the moderation of both Keynesian and neoliberal ideas in Spain throughout this country’s authoritarian and postauthoritarian history.Less
The fact that the global dissemination of neoliberalism during the 1970s found postauthoritarian Spain with a critical mass of internationalized policy economists exposed to competing Keynesian and ordoliberal influences gave Spanish neoliberalism its moderate flavor. In postwar Spain, the relatively liberal regulation of the economics profession, the Western training of many key economists and the exposure to neoclassical economics of many academics during the interwar years facilitated the gradual spread of neoclassical economic ideas in both the central bank and academia. However, Anglo-American neoclassical economics had a major competitor in the local translation of Germany’s ordoliberalism, which contributed to the moderation of both Keynesian and neoliberal ideas in Spain throughout this country’s authoritarian and postauthoritarian history.
Cornel Ban
- Published in print:
- 2016
- Published Online:
- August 2016
- ISBN:
- 9780190600389
- eISBN:
- 9780190600419
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780190600389.003.0009
- Subject:
- Political Science, Political Economy, International Relations and Politics
The interplay between external structural constraints, domestic institutions, and domestic ideological debates explains the resilience of disembedded neoliberalism in Romania after 2008. IFIs and ...
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The interplay between external structural constraints, domestic institutions, and domestic ideological debates explains the resilience of disembedded neoliberalism in Romania after 2008. IFIs and transnational firms with political leverage knocked on an open door when they demanded deep austerity and neoliberal structural reforms. However, it was local intellectual innovations that explain why policy leaders at the highest levels outbid these demands with a blend of libertarian, conservative, and ordoliberal theories about the state and society. Benefiting from a period of institutional cohesion, many of these ideas jelled into policy. Although technocrats less committed to neoliberalism took up top posts in a new cabinet after 2012, their ideas had a limited reach in the policy process because of the constitutionalization of fiscal policy by the EU, the conditionalities of the Troika, the pressures of foreign capital, and the institutional fragmentation of the policy process.Less
The interplay between external structural constraints, domestic institutions, and domestic ideological debates explains the resilience of disembedded neoliberalism in Romania after 2008. IFIs and transnational firms with political leverage knocked on an open door when they demanded deep austerity and neoliberal structural reforms. However, it was local intellectual innovations that explain why policy leaders at the highest levels outbid these demands with a blend of libertarian, conservative, and ordoliberal theories about the state and society. Benefiting from a period of institutional cohesion, many of these ideas jelled into policy. Although technocrats less committed to neoliberalism took up top posts in a new cabinet after 2012, their ideas had a limited reach in the policy process because of the constitutionalization of fiscal policy by the EU, the conditionalities of the Troika, the pressures of foreign capital, and the institutional fragmentation of the policy process.
