Toward a Post-Foundational Political Economy: Economism and Private Property as Capitalism’s Contingent Foundations

Abstract

Post-foundational Discourse Theory (PFDT), initially developed by Ernesto Laclau and Chantal Mouffe, provides a systematic discursive perspective on political phenomena, the economy included. However, ever since Laclau and Mouffe rejected economism in their Hegemony and Social Strategy: Towards a Radical Democratic Politics (HSS), the economy as an object of study has failed to receive the attention it deserves within this strand of ideology and discourse theory. Different approaches to political economy could also benefit from an explicit engagement with PFDT. I begin by outlining Laclau and Mouffe’s post-foundational perspective to the economy. I will then return to their discussion of economism in HSS and argue against its rejection in PFDT as an object of study. Finally, I will critically examine Mark Devenney’s attempt to reinstate property as an object of importance for political theory and analysis.