Populism and Neoliberalism argues that the roots of populism lay in the contradiction between the democratic ideal, which implies that the people should decide, and neoliberal governance, which seeks to make markets and competition the arbiters of major social developments. Neoliberalism is not the product of a clearly conceived ideology but rather a set of doctrines based on a few major principles which have been embraced by decision-makers of all kinds with little reassessment along the way. In practice, a certain art of governing that exploited an economic thinking insensitive to social complexity gradually imposed itself by being wrongly identified as the successor to liberalism. The rise of populist movements poses a significant challenge to liberal democracies, yet the causes of these movements remain beyond the understanding of experts. The explanation of populism is often limited to a mere political analysis. Contrary to that, this book investigates the economic and social dynamics of the free-market system and explains how populism emerges from its imbalances. It also aims to explain the emergence of the neoliberal doctrines during the 1930s and to characterise their common features. In light of this, it explores how the rise of inequality and social discontent create a pressing duty to develop another model, and argues that we must now rethink our policies in depth in order to respond to the challenge of authoritarian populism. This book marks a significant intervention in the debate about the rise and fall of neoliberalism. Its analysis of the links between the failings of neoclassical economics and the failings of neoliberal politics provides essential reading for anyone interested in the damaging impact of neoliberalism, the failings of neoclassical economics, and explanations for the rise of populism.

The Decline and Fall of Neoliberalism argues that the neoliberal era – starting after the collapse of the Bretton Woods system – is coming to an end. In the wake of the financial and economic crisis of 2008 and the outbreak of the pandemic in 2019, the doctrine outlined by monetarists appears to offer an inadequate response to the economic instability that characterises our contemporary world. To deal with the fallout of these crises, central banks have stepped in as major regulators of the economic system through massive interventions to support both financial markets and public spending, marking a clean break with the traditional conception of their role as depoliticised actors. Is the resurgence of inflation a consequence of this reckless strategy over which they seem to have lost control? Or is it rather rooted in an outdated understanding of money and monetary policy? One thing is certain: a profound change in policy is emerging. The growing turmoil in the global economy and the environmental challenges that face us demand an urgent and comprehensive rethinking of the economic role of the state. This book further develops the analysis presented in Populism and Neoliberalism and takes a closer look at the nature of neoliberalism as a political doctrine. Through this detailed description, it identifies the difficulties within economic thought that prevent it from responding appropriately to contemporary challenges. Drawing from the lessons of history, it proposes a renewed relationship between the state and the market that strikes a balance between planning and self-regulation. A post-neoliberal world is about to dawn, but its shape can still be determined by the path we choose to follow.

The Decline and Fall of Neoliberalism argues that the neoliberal era – starting after the collapse of the Bretton Woods system – is coming to an end. In the wake of the financial and economic crisis of 2008 and the outbreak of the pandemic in 2019, the doctrine outlined by monetarists appears to offer an inadequate response to the economic instability that characterises our contemporary world. To deal with the fallout of these crises, central banks have stepped in as major regulators of the economic system through massive interventions to support both financial markets and public spending, marking a clean break with the traditional conception of their role as depoliticised actors. Is the resurgence of inflation a consequence of this reckless strategy over which they seem to have lost control? Or is it rather rooted in an outdated understanding of money and monetary policy? One thing is certain: a profound change in policy is emerging. The growing turmoil in the global economy and the environmental challenges that face us demand an urgent and comprehensive rethinking of the economic role of the state. This book further develops the analysis presented in Populism and Neoliberalism and takes a closer look at the nature of neoliberalism as a political doctrine. Through this detailed description, it identifies the difficulties within economic thought that prevent it from responding appropriately to contemporary challenges. Drawing from the lessons of history, it proposes a renewed relationship between the state and the market that strikes a balance between planning and self-regulation. A post-neoliberal world is about to dawn, but its shape can still be determined by the path we choose to follow.

Populism and Neoliberalism argues that the roots of populism lay in the contradiction between the democratic ideal, which implies that the people should decide, and neoliberal governance, which seeks to make markets and competition the arbiters of major social developments. Neoliberalism is not the product of a clearly conceived ideology but rather a set of doctrines based on a few major principles which have been embraced by decision-makers of all kinds with little reassessment along the way. In practice, a certain art of governing that exploited an economic thinking insensitive to social complexity gradually imposed itself by being wrongly identified as the successor to liberalism. The rise of populist movements poses a significant challenge to liberal democracies, yet the causes of these movements remain beyond the understanding of experts. The explanation of populism is often limited to a mere political analysis. Contrary to that, this book investigates the economic and social dynamics of the free-market system and explains how populism emerges from its imbalances. It also aims to explain the emergence of the neoliberal doctrines during the 1930s and to characterise their common features. In light of this, it explores how the rise of inequality and social discontent create a pressing duty to develop another model, and argues that we must now rethink our policies in depth in order to respond to the challenge of authoritarian populism. This book marks a significant intervention in the debate about the rise and fall of neoliberalism. Its analysis of the links between the failings of neoclassical economics and the failings of neoliberal politics provides essential reading for anyone interested in the damaging impact of neoliberalism, the failings of neoclassical economics, and explanations for the rise of populism.