Both the exponents and critics of neoliberalism assert the
dominance of market forces in western nations. The Political
Economy of State Intervention calls this into question. Through a
re-examination of state intervention in the USA and Britain over
the course of the "long depression" (1970-to date), this book
argues that the state has performed an increasingly significant
role in conserving capital, propping up an economic and social
order that has lost its productive dynamism. The specific forms of
capital's dependency on the state may vary, however the underlying
weaknesses of mature western economies have prompted new forms of
state intervention narrowly aimed at conserving capital, especially
in the wake of the financial crisis. The chapters consider factors
which are usually posited as explanations for the long depression
such as oil price shocks, domestic conditions and technological
innovation. The work argues that the consensus view of
neoliberalism has served to underplay the significance of the
state's role in failing to lift this long depression in several
ways: it has lent a greater ideological coherence to the policies
pursued by successive governments than they deserve; the state has
been less subordinate to the market than is usually claimed and
more often its maker; and there has been a significant growth in
jobs located in the private sector that are funded by public money.
The cumulative effect of this is a narrowing of the state's purpose
to conserving capital, a role which has contributed to its loss of
authority as an institution that claims to represent society as a
whole. It is theorised that this, in turn, has led to the
insecurities of the existing political order and the rise of
populism. This book will be of great interest to students and
scholars of political economy, public policy, political theory,
economics and sociology.
General
| Imprint: |
Routledge
|
| Country of origin: |
United Kingdom |
| Series: |
Routledge Frontiers of Political Economy |
| Release date: |
November 2020 |
| First published: |
2021 |
| Authors: |
Gavin Poynter
|
| Dimensions: |
234 x 156 x 21mm (L x W x T) |
| Format: |
Hardcover
|
| Pages: |
222 |
| ISBN-13: |
978-0-367-32103-1 |
| Categories: |
Books >
Business & Economics >
Economics >
General
|
| LSN: |
0-367-32103-3 |
| Barcode: |
9780367321031 |
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