On the Origins of Neoliberalism: Political Shifts and Analytical Challenges

Abstract

One could think of neoliberalism as an ideological platform, which can then be described without regard to how faithfully it is implemented into laws and policies, or one could describe neoliberalism as concrete laws and policies, no matter how far removed those might be from their theoretical inspirations. If it is the latter we are interested in, then neoliberalism stands for laws that attempt to bring about economic growth by minimizing state intervention in the market and otherwise ease capital's profitability and investment. Such policies include—deregulation of business practices, including laws concerned with environmental and labor issues; privatization of state enterprises; tax cuts; budget cuts, leading to reduction in welfare and other social provisions; monetarism; elimination of protectionist policies; and liberalization of financial and foreign exchange markets.