The Neo-Liberal State in a Post-Global World

David Schultz

Abstract


Neo-liberalism has been the dominant political–economic ideology defining the state and the world economy since the late 1970s. Neo-liberalism is a political–economic theory committed to laissez-faire market fundamentalism, a minimalist role for state intervention into the economy, and free trade and open borders. The global financial crisis that began in 2008 challenges the neo-liberal views of the state in numerous ways. This article describes the rise of the neo-liberal state, the ways the global crisis created a crisis for it, and then how the response to it questions its legitimacy and viability. The article concludes with detailing the various problems with neo-liberalism, calling for a rethinking of state theory within a new post-global economic order.

Keywords


neo-liberalism; state; globalization; globalism; global financial crisis; politics; economics

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"Societal studies" ISSN online 2029-2244 / ISSN print 2029-2236