The Strange Non-death of Neo-liberalism
August 2011, Polity
Several factors have brought us to this situation:
- The lobbying power of firms whose donations are of growing importance to cash-hungry politicians and parties
- The weakening of competitive forces by firms large enough to shape and dominate their markets
- The moral initiative that is grasped by enterprises that devise their own agendas of corporate social responsibility
Both democratic politics and the free market are weakened by these processes, but they are largely inevitable and not always malign. Hope for the future, therefore, cannot lie in suppressing them in order to attain either an economy of pure markets or a socialist society. Rather it lies in dragging the giant corporation fully into political controversy.
About this Book xi
1 The Previous Career of Neoliberalism 1
2 The Market and Its Limitations 24
3 The Corporate Takeover of the Market 49
4 Private Firms and Public Business 71
5 Privatized Keynesianism: Debt in Place of Discipline 97
6 From Corporate Political Entanglement to Corporate Social Responsibility 125
7 Values and Civil Society 144
8 What's Left of What's Right? 162
Further Reading 184
"This highly accessible book makes its case persuasively."
Times Higher Education
"a valuable book that not only gives a very good overview of neo-liberalism and its failings, but also points to government errors and serves as a good primer in such things as imperfect information in markets."
Irish Journal of Sociology
"A rich and powerful book. It pushes towards an analysis of neoliberalism not as the set of liberalizing forces that it depicts itself as being, but rather as a grouping of impulses that have both hampered government and weakened market competition."
"An excellent contribution to the study of political economy
that directly resolves the puzzle it has identified."
Transfer: European Review of Labour and Research
"A well-reasoned and tightly argued analysis of our present predicament. Although written for the intelligent general reader, rather than subject specialists, his insights constantly provoke and illuminate. Far from being merely a dry dissection of neoliberal theory, the book also addresses how to make corporations behave better."
LSE Politics Blog
"Takes forward and moves beyond Karl Polanyi’s (1957)
analysis of state/market relationsto match the changing conditions
of the twenty-first century."
Journal of Contemporary European Studies
"The most important work on the political economy of modern capitalism since Keynes, Kalecki and Schonfield."
Philippe C. Schmitter, European University Institute
"Colin Crouch shows how neoliberalism as embodied in large
corporations brought about the Great Recession of 2007 and yet,
ironically, they profited in wealth and power from it - at everyone
else's expense. A compelling read."
Michael Mann, University of California, Los Angeles
"An excellent contribution to the debate about neoliberalism.
Crouch gives us a tightly reasoned and well balanced critique of
the neoliberal philosophy that contributed significantly to the
2008 financial crisis. And his call for a more frank discussion in
civil society of the moral and ethical assumptions behind
neoliberalism is a refreshing addition to the traditional call for
simply bringing the state back in to tame market forces."
John L. Campbell, Dartmouth College