Neoliberalism

For the school of international relations, see Neoliberalism in international relations.

Not to be confused with "New liberalism"

Neoliberalism is a political movement advocating economic liberalizations, free trade, and open markets. Neoliberalism supports privatization of state-owned enterprises, deregulation of markets, and promotion of the private sector's role in society.

Those who use the term argue that Neoliberalism is now a hegemonic philsophy, meaning that establishment economists, politicians and media sources tend to implictly accept it's underlying assumptions and beliefs as 'common sense', the most striking effect of neoliberalism being it's effect on social democratic political parties that previously might have taken at least rhetorical positions against unfettered markets, but today when in power practice neoliberal policies.

The meaning of neoliberalism has changed over time and come to mean different things to different groups. This lack of agreement creates major problems in creating an unbiased and unambiguous definition of neoliberalism.

In academic social sciences outside of economics, the term "neoliberal" is often used to condemn privatization and its advocates. This usage gained popularity after being used by dissident intellectuals in Chile to criticize Augusto Pinochet and his US-backed military coup. After this coup, scholars began to make direct connections between the theory of neoliberalism, advocated by the Chicago school of economics, and the practices of neocolonialism advanced by Western economies through military and economic interventions. The term "neoliberalism" has been used to describe the whole system, even when the policies of leaders such as Pinochet have not fully corresponded to the economic theory.

Schools of neoliberalism

Classical neoliberalism

The term “neoliberalism” was coined in 1938 by the German scholar Alexander Rüstow at the Colloque Walter Lippmann. The colloquium defined the concept of neoliberalism as “the priority of the price mechanism, the free enterprise, the system of competition and a strong and impartial state.” To be “neoliberal” meant that “laissez-faire” liberalism is not enough and that - in the name of liberalism - a modern economic policy is required. After the colloquium “neoliberalism” became a label for several academical approaches such as the Freiburg school, the Austrian School or the Chicago school of economics.

This classical form of neoliberalism stems from classical liberalism and was developed in inter-War Austria by economists, including Friedrich Hayek and Ludwig von Mises. They were concerned about the erosion of liberty by both socialist and fascist governments in Europe at that time and tried to restate the case for liberty which became the basis for neoliberalism. Hayek's 1970s book, The Constitution of Liberty, explains this argument.

Hayek's belief in liberty stemmed from an argument about information. He believed that no individual (or group, including the government) could ever understand everything about an economy or a society in order to rationally design the best system of governance. He argued this only got worse as scientific progress increased and the scope of human knowledge grew, leaving individuals increasingly more and more ignorant in their lifetimes. As a result, he believed it was impossible for any person or government to design the perfect systems under which people could be governed. The only solution to this, he believed, was to allow all possible systems to be tried in the real world and to allow the best systems to beat the worse systems through competition. In a liberal society, he believed, the few who used liberty to try out new things would come up with successful adaptations of existing systems or new ways of doing things. These discoveries, once shared and become mainstream, would benefit the whole of society, even those who did not directly partake of liberty.

Due to the ignorance of the individual, Hayek argued that an individual could not understand which of the various political, economic and social rules they had followed had made them successful. In his mind, this made the superstitions and traditions of a society in which an individual operated vitally important, since in probability they had, in some way, aided the success of the individual. This would be especially true in a successful society, where these superstitions and traditions would, in all probability be successful ones that had evolved over time to exploit new circumstances. However, this did not excuse any superstition or tradition being followed if it had outlived its usefulness: respect of tradition and superstition for the sake of tradition and superstition were not acceptable values to him. Therefore classical neoliberalism combined a respect for the old, drawn from conservatism, with the progressive striving towards the future, of liberalism.

In emphasising evolution and competition of ideas, Hayek highlighted the divide between practical liberalism that evolved in a haphazard way in England, championed by such people as David Hume and Adam Smith, versus the more theoretical approach of the French, in such people as Descartes and Rousseau. Hayek christened these the pragmatic and rationalist schools, the former evolving institutions with an eye towards liberty and the latter creating a brave new world by sweeping all the old and therefore useless ideas away.

The Rule of Law

At the center of neoliberalism was the rule of law. Hayek believed that liberty was maximised when coercion was minimised. Hayek did not believe that a complete lack of coercion was possible, or even desirable, for a liberal society, and he argued that a set of traditions was absolutely necessary which allowed individuals to judge whether they would or would not be coerced. This body of tradition he notes as law and the use of this tradition and the Rule of Law. In designing a liberal system of law, Hayek believed that two things were vitally important: the protection and delineation of the personal sphere and the prevention of fraud and deception, which could be maintained only by threat of coercion from the state. In delineating a personal sphere, an individual could know under what circumstances they would or would not be coerced under, and could make plans for the use of their resources in achieving their aims.

In designing such a system, Hayek believed that it could maintain a protected sphere by protecting against abuses by the ruling power, be it a monarch (e.g. Bill of Rights 1689), the will of the majority in a democracy (e.g. the US Constitution) or the administration (e.g. the Rechtsstaat). He believed that the most important features of such protections were equality before the law, and generality of the law. Equality meant that all should be equal before the law and therefore subject to it, even those decisions of a legislature or government administration. Generality meant that the law should be general and abstract, focusing not on ends or means, as a command would, but on general rules which, by their lack of specificity, could not be said to grant privileges, discriminate or compel any specific individual to an end. General laws could also be used to transmit knowledge and encourage spontaneous order in human societies (much like the use of Adam Smith's invisible hand in economics). He also stressed the importance of individuals being responsible for their actions in order to encourage others to respect the law.

Policy

Important practical tools for making these things work included separation of powers, the idea that those enforcing the law and those making it should be separate, to prevent the lawmakers from pursuing short-term ends and constitutionalism, the idea that lawmakers should be legally bound about the laws they could pass, thereby preventing absolute rule by the majority.

David Harvey describes a state configured for neoliberalism:

Neoliberalism is in the first instance a theory of political economic practices that proposes that human well-being can best be advanced by liberating individual entrepreneurial freedoms and skills within an institutional framework characterized by strong private property rights, free markets and free trade. The role of the state is to create and preserve an institutional framework appropriate to such practices. The state has to guarantee, for example, the quality and integrity of money. It must also set up those military, defence, police and legal structures and functions required to secure private property rights and to guarantee, by force if need be, the proper functioning of markets. Furthermore, if markets do not exist (in areas such as land, water, education, health care, social security, or environmental pollution) then they must be created, by state action if necessary. But beyond these tasks the state should not venture. State interventions in markets (once created) must be kept to a bare minimum because, according to the theory, the state cannot possibly possess enough information to second-guess market signals (prices) and because powerful interest groups will inevitably distort and bias state interventions (particularly in democracies) for their own benefit.

Limited neoliberalism

Economic neoliberalism stems out of the historical rift between classical liberalism and economic liberalism, and developed when the economically liberal minded co-opted the language and ideas of classical neoliberalism to place economic freedom at its heart, making it a right-wing ideology. Essentially, economic neoliberalism can be derived by taking the classical neoliberal definition above and taking the protected personal sphere to solely refer to property rights and contract. The liberal opposite of economic neoliberalism is modern liberalism, the corresponding left-wing ideology. The best known proponent of economic neoliberalism is Milton Friedman.

Economic neoliberalism is distinct from classical neoliberalism for many reasons. Hayek believed that certain elements that now make up modern economic neoliberal thought are too rationalist, relying on preconceived notions of human behaviour, such as the idea of homo economicus. Paul Treanor points out that it is too utopian, and therefore illiberal. David Harvey points out that economic neoliberalism is "theory of economic political practises", rather than a complete ideology, and therefore, no correlation or connection needs to exist between a favourable assessment of neoliberal economic practises and a commitment to liberalism proper. Likewise Anna-Maria Blomgren views neoliberalism as a continuum ranging from classical to economic liberalism. A broad (and hopefully clearer) restatement of the above is to point out that classic liberals must be economic liberals, but economic liberals do not have to be classically liberal, and it is the latter group that makes up the "new liberalism" of economic neoliberalism.

Expansive neoliberalism

A broader form of neoliberalism advocates the use of free market techniques outside of commerce and business by the creation of new markets. According to this view, public resources such as health and education ought to be controlled by markets and private companies.

Under the expansive interpretation of neoliberal philosophy, human life itself gains its value from the market. As described by Paul Treanor:

"As you would expect from a complete philosophy, neoliberalism has answers to stereotypical philosophical questions such as "Why are we here" and "What should I do?". We are here for the market, and you should compete. Neo-liberals tend to believe that humans exist for the market, and not the other way around: certainly in the sense that it is good to participate in the market, and that those who do not participate have failed in some way. In personal ethics, the general neoliberal vision is that every human being is an entrepreneur managing their own life, and should act as such. Moral philosophers call this is a virtue ethic, where human beings compare their actions to the way an ideal type would act - in this case the ideal entrepreneur. Individuals who choose their friends, hobbies, sports, and partners, to maximise their status with future employers, are ethically neoliberal. This attitude - not unusual among ambitious students - is unknown in any pre-existing moral philosophy, and is absent from early liberalism. Such social actions are not necessarily monetarised, but they represent an extension of the market principle into non-economic area of life - again typical for neoliberalism"

Schools of neoliberal economics

Mont Pelerin Society

The Mont Pelerin Society was founded in 1947 by Friedrich Hayek to bring together the widely scattered neoliberal thinkers and political figures. "Hayek and others believed that classical liberalism had failed because of crippling conceptual flaws and that the only way to diagnose and rectify them was to withdraw into an intensive discussion group of similarly minded intellectuals." With central planning in the ascendancy world-wide and with few avenues to influence policymakers, the society served to bring together isolated advocates of liberalism as a “rallying point”--as Milton Friedman phrased it. Meeting annually, it would soon be a “kind of international ‘who’s who’ of the classical liberal and neo-liberal intellectuals.” While the first conference in 1947 was almost half American, the Europeans concentration dominated by 1951. Europe would remain the “epicenter” of the community with Europeans dominating the leadership.

Chicago School

The Chicago school of economics describes a neoclassical school of thought within the academic community of economists.

The school emphasizes non-intervention from government and generally rejects regulation in markets as inefficient with the exception of central bank regulation of the money supply (i.e. monetarism). It is associated with neoclassical price theory and libertarianism and the rejection of Keynesianism in favor of monetarism until the 1980s, when it turned to rational expectations. The school has impacted the field of finance by the development of the efficient market hypothesis. In terms of methodology the stress is on "positive economics"– that is, empirically based studies using statistics to prove theory.

Approximately 70% of the professors in the economics department have been considered part of the school of thought. The University of Chicago department, widely considered one of the world’s foremost economics departments, has fielded more Nobel Prize winners and John Bates Clark medalists in economics than any other university.

Those who attend to the Chicago School prefer some form of competition law, school vouchers, intellectual property and prefer Milton Friedman's negative income tax as a replacement to the existing system.

Germany

Ludwig Erhard

Neoliberal economists such as Ludwig Erhard would use the theories he developed in the 1930s and 1940s and contribute to West Germany’s reconstruction after the Second World War. Erhard was a member of the Mont Pelerin Society and in constant contact with other neoliberals. He pointed out that he is commonly classified as neoliberal and that he accepts this classification. Without Walter Eucken, Franz Böhm, Wilhelm Röpke, Alexander Rüstow, Friedrich Hayek, Alfred Müller-Armack and others his own contribution to the foundation of the social market economy would not have been possible. Hayek did not like the expression “social market economy” but he noticed 1976 that some of his friends in Germany have succeeded in implementing the sort of social order for which he is pleading by using it. Ludwig von Mises stated despite some controversy at the Mont Pelerin Society that Erhard and Müller-Armack accomplished a great act of liberalism to restore the German economy and called this “a lesson for the US”. Although Erhard had always emphasized that the market was inherently social and did not need to be made so, in political practice the German welfare state which had been established under Otto von Bismarck, became increasingly costly. Rüstow who coined the label “neoliberalism” at the Colloque Walter Lippmann criticized that development tendency and pressed for a more restrictive social policy.

Policy implications

Neoliberalism seeks to transfer control of the economy from public to the private sector, under the belief that it will produce a more efficient government and improve the economic health of the nation. The definitive statement of the concrete policies advocated by neoliberalism is often taken to be John Williamson's "Washington Consensus", a list of policy proposals that appeared to have gained consensus approval among the Washington-based international economic organizations (like the International Monetary Fund (IMF) and World Bank). Williamson's list included ten points:

• Fiscal policy Governments should not run large deficits that have to be paid back by future citizens, and such deficits can only have a short term effect on the level of employment in the economy. Constant deficits will lead to higher inflation and lower productivity, and should be avoided. Deficits should only be used for occasional stabilization purposes.
• Redirection of public spending from subsidies (especially what neoliberals call "indiscriminate subsidies") and other spending neoliberals deem wasteful toward broad-based provision of key pro-growth, pro-poor services like primary education, primary health care and infrastructure investment
• Tax reform– broadening the tax base and adopting moderate marginal tax rates to encourage innovation and efficiency;
• Interest rates that are market determined and positive (but moderate) in real terms;
• Floating exchange rates;
• Trade liberalization – liberalization of imports, with particular emphasis on elimination of quantitative restrictions (licensing, etc.); any trade protection to be provided by low and relatively uniform tariffs; thus encouraging competition and long term growth
• Liberalization of the "capital account" of the balance of payments, that is, allowing people the opportunity to invest funds overseas and allowing foreign funds to be invested in the home country
• Privatization of state enterprises; Promoting market provision of goods and services which the government cannot provide as effectively or efficiently, such as telecommunications, where having many service providers promotes choice and competition.
• Deregulation – abolition of regulations that impede market entry or restrict competition, except for those justified on safety, environmental and consumer protection grounds, and prudent oversight of financial institutions;
• Legal security for property rights; and,
• Financialisation of capital.

Support

In Capitalism and Freedom (1962), Friedman developed the argument that economic freedom, while itself an extremely important component of total freedom, is also a necessary condition for political freedom. He commented that centralized control of economic activities was always accompanied with political repression.

In his view, the voluntary character of all transactions in an unregulated market economy and wide diversity that it permits are fundamental threats to repressive political leaders and greatly diminish power to coerce. Through elimination of centralized control of economic activities, economic power is separated from political power, and the one can serve as counterbalance to the other. Friedman feels that competitive capitalism is especially important to minority groups, since impersonal market forces protect people from discrimination in their economic activities for reasons unrelated to their productivity.

It is important to take into account, however, that an early neoliberal regime was attempted in Chile under what some would consider a military dictatorship and severe social repression. Chile now enjoys the highest rate of GDP per capita in Latin America; this lends strong credence to the assertion that economic freedom is more important to prosperity than are democratic institutions. Also, increased economic freedom put pressure on the dictatorship over time and increased political freedom. In The Road to Serfdom, Hayek argued that "Economic control is not merely control of a sector of human life which can be separated from the rest; it is the control of the means for all our ends."

Opposition

Opponents of neoliberalism argue the following points:

• Globalization can subvert nations' ability for self-determination.
• Neoliberalism as a form of capitalism increases productivity but erodes the conditions in which production occurs long term, i.e., resources/nature, requiring expansion into new areas. It is therefore not sustainable within the world's limited geographical space.
• Exploitation: critics consider neo-liberal economics to promote exploitation.
• Negative economic consequences: Critics argue that neo-liberal policies produce inequality.
• Increase in corporate power: some organizations believe neoliberalism, unlike liberalism, changes economic and government policies to increase the power of corporations, and a shift to benefit the upper classes.
• There are terrains of struggles for neoliberalism locally and socially. Urban citizens are increasingly deprived of the power to shape the basic conditions of daily life.
• Trade-led, unregulated economic activity and lax state regulation of pollution lead to environmental impacts or degradation.
• Deregulation of the labor market produces flexibilization and casualization of labor, greater informal employment, and a considerable increase in industrial accidents and occupational diseases.

Critics sometimes refer to neoliberalism as the "American Model," and make the claim that it promotes low wages and high inequality. According to the economists Howell and Diallo (2007), neoliberal policies have contributed to a U.S. economy in which 30% of workers earn low wages (less than two-thirds the median wage for full-time workers), and 35% of the labor force is underemployed; only 40% of the working-age population in the U.S. is adequately employed. The Center for Economic Policy Research's (CEPR) Dean Baker (2006) argued that the driving force behind rising inequality in the U.S. has been a series of deliberate, neoliberal policy choices including anti-inflationary bias, anti-unionism, and profiteering in the health industry. However, countries have applied neoliberal policies at varying levels of intensity; for example, the OECD (Organisation for Economic Cooperation and Development) has calculated that only 6% of Swedish workers are beset with wages it considers low, and that Swedish wages are overall lower due to their lack of neoliberal policies John Schmitt and Ben Zipperer (2006) of the CEPR have analyzed the effects of intensive Anglo-American neoliberal policies in comparison to continental European neoliberalism, concluding "The U.S. economic and social model is associated with substantial levels of social exclusion, including high levels of income inequality, high relative and absolute poverty rates, poor and unequal educational outcomes, poor health outcomes, and high rates of crime and incarceration. At the same time, the available evidence provides little support for the view that U.S.-style labor-market flexibility dramatically improves labor-market outcomes. Despite popular prejudices to the contrary, the U.S. economy consistently affords a lower level of economic mobility than all the continental European countries for which data is available."

Notable critics of neoliberalism in theory or practice include economists Joseph Stiglitz, Amartya Sen, and Robert Pollin, linguist Noam Chomsky, geographer David Harvey, and the alter-globalization movement in general, including groups such as ATTAC. Critics of neoliberalism argue that not only is neoliberalism's critique of socialism (as unfreedom) wrong, but neoliberalism cannot deliver the liberty that is supposed to be one of its strong points. Daniel Brook's "The Trap" (2007), Robert Frank's "Falling Behind" (2007), Robert Chernomas and Ian Hudson's "Social Murder" (2007), and Richard G. Wilkinson's "The Impact of Inequality" (2005) all claim high inequality is spurred by neoliberal policies and produces profound political, social, economic, health, and environmental constraints and problems. The economists and policy analysts at the Canadian Centre for Policy Alternatives (CCPA) offer inequality-reducing social democratic policy alternatives to neoliberal policies.

Santa Cruz History of Consciousness professor Angela Davis and Princeton sociologist Bruce Western have claimed that the high rate (compared to Europe) of incarceration in the U.S. – specifically 1 in 37 American adults is in the prison system – heavily promoted by the Clinton administration, is the neoliberal U.S. policy tool for keeping unemployment statistics low, while stimulating economic growth through the maintenance of a contemporary slave population and the promotion of prison construction and "militarized policing." The Clinton Administration also embraced neoliberalism by pursuing international trade agreements that would benefit the corporate sector globally (normalization of trade with China for example). Domestically, Clinton fostered such neoliberal reforms as the corporate takeover of health care in the form of the HMO, the reduction of welfare subsidies, and the implementation of "Workfare".

Neoliberal policies advanced by supranational organizations have come under criticism, from both socialist and libertarian writers, for advancing a corporatist agenda. Rajesh Makwana, on the left, writes that “the World Bank and IMF, are major exponents of the neoliberal agenda” advancing corporate interests. Sheldon Richman, editor of the libertarian journal, The Freeman, also sees the IMF imposing “corporatist-flavored ‘neoliberalism’ on the troubled countries of the world.” The policies of spending cuts coupled with tax increases give “real market reform a bad name and set back the cause of genuine liberalism.” Paternalistic supranational bureaucrats foster “long-term dependency, perpetual indebtedness, moral hazard, and politicization, while discrediting market reform and forestalling revolutionary liberal change.” Free market economist Richard M. Salsman goes further and argues the IMF “is a destructive, crisis-generating global welfare agency that should be abolished.” “In return for bailouts, countries must enact such measures as new taxes, high interest rates, nationalizations, deportations, and price controls.” Writing in Forbes, E. D. Kain sees the IMF as "paving the way for international corporations entrance into various developing nations" and creating dependency.

Neoliberalism in contemporary society

Although neoliberalism is primarily an economic doctrine, it has ramifications for all facets of human life. How individuals are affected by neoliberalism depends on how they are included or excluded in the systems it promotes. Scholars have emphasized this dynamic of inclusion and exclusion to show how neoliberalism has profoundly different effects on different parts of society.

Scholars have also described how neoliberalism allows governmentality, the ideas and practices associated with governing populations, to proceed without management from an actual government.

Culture

Neoliberalism emphasizes the importance of personal responsibility and entrepreneurship as opposed to social welfare and cooperation. This attitude affects individuals as well as institions. Henry Giroux, a key theorist in the area of critical pedagogy, describes neoliberalism as a colonization of the public sphere by private interests, a trend which he argues results in competition, cynicism, and greed.

Literature

Ayn Rand was a famous literary advocate of capitalism without government intervention. In Rand's utopias, people prioritize their own interests and society as a whole benefits due to the invisible hand of the market.

Hip-Hop

Prof. Lester Spence has written extensively on the "neoliberal turn" in hip-hop and black culture. Spence takes a line from Jay-Z as a central example: "I'm not a businessman, I'm a business, man." This attitude, argues Spence, sums up the neoliberal attitude towards individuals, who are now forced to make their way through the economy alone and on their own terms. The consequence of this attitude is that certain successful populations are rewarded, whereas unsuccessful populations are increasingly punished and deprived of resources. These disadvantaged populations suffer from increasing systemic poverty and racism.

Education

The rapid movement toward privatization of educational systems is also a manifestation of neoliberalism. This trend has affected primary education—which, even in the case of public school systems, is increasingly run for profit—and secondary education, which has increasingly become involved with global capital. In the neoliberal view, students are "autonomous choosers" who must navigate their way through the educational system in order to increase their human capital. Under this model, schools are experiencing increased de-facto segregation and economic stratification.

One apparent component of this privatization is a relative decrease in wages and benefits for the employees of educational institutions.

Neoliberal education also means that students will be educated in ways that correspond to the demands of the market. In the US and the UK, this implies that education will shift to reflect the transition from manufacturing to a service economy.

Neoliberalism has affected education globally, due in part to pressure from such as the International Monetary Fund, the World Bank, the Free Trade Agreement of the Americas and other neoliberal institutions with international scope. Effects include both direct for-profit management of education, as well as a stratification of educational priorities based on how different populations fit into the world economy.

See also

• Austrian School
• Capitalism
• Classical liberalism
• Corporatization
• Deregulation
• Economic liberalism
• Free market
• Free trade
• Globalization
• Private sector
• Privatization

Further reading

• [Ankerl, Guy]. Beyond Monopoly Capitalism and Monopoly Socialism. Schenkman, Cambridge, 1978, ISBN 0-87073-938-7
• Bowles, Samuel, David M. Gordon, and Thomas E. Weisskopf. 1989. "Business Ascendancy and economic Impasse: A Structural Retrospective on Conservative Economics, 1979-87." Journal of Economic Perspectives 3(1):107-134.
• Brown, Wendy. "Neoloberalism and the End of Liberal Democracy" in Edgework: critical essays on knowledge and politics Princeton University Press, 2005, ch 3.
• Cahill, Damien, Lindy Edwards and Frank Stilwell, eds, Neoliberalism: Beyond the Free Market, Cheltenham: Edward Elgar Publishing, 2012. ISBN 978-1-78100-234-6
• Campbell, John L., and Ove K. Pedersen, eds. The Rise of Neoliberalism and Institutional Analysis Princeton University Press, 2001. 288 pp.
• Crouch, Colin. The Strange Non-death of Neo-liberalism, Polity Press, 2011. ISBN 0-7456-5221-2 (Reviewed in The Montreal Review)
• Ferris, Timothy. The Science of Liberty (2010) HarperCollins 384 pages
• Foucault, Michel. The Birth of Biopolitics Lectures at the College de France, 1978-1979. London: Palgrave, 2008.
• Georgeou, Nichole, Neoliberalism, Development, and Aid Volunteering, New York: Routledge, 2012. ISBN 978-0-415-80915-3
• Gowan, Peter (1999). The Global Gamble: Washington's Faustian Bid for World Dominance. London: Verso. ISBN 1-85984-271-2. {{cite book}}: Invalid |ref=harv (help)
• Griffiths, Simon, and Kevin Hickson, eds. British Party Politics and Ideology after New Labour (2009) Palgrave Macmillan 256 pages
• Hayek, Friedrich August Von. The Constitution of Liberty (1960)
• Harvey, David (2005). A Brief History of Neoliberalism. Oxford University Press. ISBN 0-19-928326-5. {{cite book}}: Invalid |ref=harv (help)
• Larner, Wendy. "Neo-liberalism: policy, ideology, governmentality," Studies in political economy 63 (2000) online
• Plant, Raymond (2009). The Neo-liberal State. Oxford University Press. ISBN 0-19-928175-0. {{cite book}}: Invalid |ref=harv (help)
• Pollin, Robert (2003). Contours of Descent: U.S. Economic Fractures and the Landscape of Global Austerity. New York: Verso. ISBN 1-84467-534-3. {{cite book}}: Invalid |ref=harv (help)
• Mirowski, Philip, and Plehwe, Dieter, eds. The Road from Mont Pelerin: The Making of the Neoliberal Thought Collective. Harvard University Press. 2009. 480 pages.
• Prasad, Monica. The Politics of Free Markets: The Rise of Neoliberal Economic Policies in Britain, France, Germany and the United States. University of Chicago Press. 2006. 328 pages
• Steger, Manfred B., and Ravi K. Roy, Neoliberalism: A Very Short Introduction (2010)
• Springer, Simon. "Neoliberalism as discourse: between Foucauldian political economy and Marxian poststructuralism" Critical Discourse Studies (2012) online
• Springer, Simon. "Neoliberalism and geography: expansions, variegations, formations" Geography Compass 4/8 (2010) online
• Springer, Simon. "Neoliberalising violence: of the exceptional and the exemplary in coalescing moments" "Area" 44/2 (2012) online
• Wang, Hui, and Karl, Rebecca E. "1989 and the Historical Roots of Neoliberalism in China," positions: east Asia cultures critique, Volume 12, Number 1, Spring 2004, pp. 7–70

External links

• Theorising Neoliberalism by Chris Harman in International Socialism journal
• What is Neoliberalism? by Dag Einar Thorsen of the University of Oslo
• The Last Development Crusade
• "Monetarism" at The New School's Economics Department's History of Economic Thought website.
• IDENTITIES: How Governed, Who Pays?
• Neoliberalism and the State with John Shields and Bryan Evans, Ryerson University, Toronto.
• The Essence of Neoliberalism Pierre Bourdieu
• A Look at Argentina’s 2001 Economic Rebellion - video report by Democracy Now!
• The Scorecard on Development, 1960-2010: Closing the Gap? - Center for Economic and Policy Research report, April 2011

Online lectures

• The Neoliberal City, David Harvey at the University Channel