What, if anything, is neoliberalism?

by John Quiggin on November 2, 2019

The comments thread on my WTO post raises the much-argued question of whether the term “neoliberalism” has any useful content, or whether it is simply an all-purpose pejorative to be applied to anything rightwing. O

In this 2002 post from the pre-Cambrian era of blogging, at a time when I aspired to write a book along the lines of Raymond Williams’ Keywords, I claim that neoliberalism is a meaningful and useful term, which isn’t to deny that it’s often used sloppily, like all political terms.

Some thoughts seventeen years later

First, this definition refers to the standard international use of the term, what I’ve susequently called “hard neoliberalism”, represented in the US by the Republican Party. I subsequently drew a distinction with “soft neoliberalism”, which corresponds to US usage where the term is typically applied to centrist Democrats like the Clintons. I’d also apply this to Blair’s New Labour, although, as stated in the post, there were points at which Blair and Brown drifted back in the direction of traditional social democracy.

Second, the discussion of how the right (in Europe and Australia) is shifting away from neoliberalism towards “the older and more fertile ground of law and order and xenophobia” seems as if it could have been written today. These processes take a long time to work themselves through.

As a corollary, the idea of Trump as a radical break with the past is unsustainable. There’s been a qualitative change with Trump and the various mini-Trumps, but the process was well underway before this new stage.

Finally, my characteristic overoptimism shows up in various places.

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