What neoliberalism left behind

Neoliberalism is one of those fuzzy words that can mean something different to everyone. Wendy Brown is one of the world’s leading scholars on neoliberalism and argue that a generation of neoliberal worldview among political, business, and intellectual leaders led to the populism we’re seeing throughout the world today. But is it mutually exclusive to democracy? Not necessarily.Brown joins us this week to help make sense of what neoliberalism is, and where things stand today. We were lucky enough to get an advance copy of her book, In the Ruins of Neoliberalism, which will be released in July. It’s a follow up to her 2015 book, Undoing the Demos, and you’ll hear her talk about how her thinking has changed since then.Brown is the Class of 1936 First Chair at the University of California, Berkeley, where she teaches political theory. You might also recognize her from Astra Taylor’s documentary, What Is Democracy? If you enjoy this episode, we recommend checking out the Political Theory Review podcast, produced by Jeffrey Church at the University of Houston.Additional InformationWendy’s books: In the Ruins of Neoliberalism, Undoing the DemosWendy’s website Our episode with David FrumThe Political Theory Review podcastDiscussion/Reflection QuestionsWhat do you see as the relationship between neoliberalism and democracy?Do you think it’s possible for two to coexist?What do you see as the future of neoliberalism? Will Millennials and Generation Z move in a different direction?Interview Highlights[5:45] How do you define neoliberalism and how is it related to democracy?North Americans are a little bewildered by the term, and we don’t have it as part of our everyday lexicon although I think it’s finally beginning to seep in. But having said that, I also want to suggest that we understand it at a social and political level and not just an economic level. We recognize it as the undoing of the Keynesian welfare state and the substitution of free market policies, low taxes, everyone’s responsible for themselves and getting rid of all the social supports except for a bare minimum safety net, but I want to add that it’s also a whole from of governing reason.[7:45] How does neoliberalism relate to authoritarianism?One of the things I felt compelled to understand with our hard right turn in the West over the last several years with Trump and Bolsonaro and Brexit and so forth was the connection of that to neoliberalism. One thing you can say is rising inequality and open borders produces rage about being at the bottom end of that inequality and also about immigrants, but there was something else on the horizon that I had never noticed, which is that the neoliberal scheme was not just to substitute markets for social policy.It was also to substitute traditional moral values for understandings of social justice and institutions of social justice. And so part of what we’re experiencing now is what I call the kind of scorpion tail of neoliberalism — the lashing out against the inequality and the continued insistence that traditional morality, moral values, and traditions more generally from white supremacy to patriarchal families, religion in the public sphere, that those are more appropriate governors of human conduct than any state-mandated practices of equality or inclusion.[11:04] How did neoliberal ideas make their way from academics to Ronald Reagan and Margaret Thatcher?First, there was a very serious economic crisis often called a crisis of profitability in the 70s that was also often seen as a crisis of the welfare state. Too much taxation, unions that were too strong, corporations that were too large and lazy, and a real problem of stagflation. It was a moment where you could strike with a new set of ideas. At the same time, neoliberalism had already been experimented with extensively in Latin America. The IMF was already solidly neoliberal, so bringing it up to the north wasn’t so difficult once Reagan and Thatcher were in power.[14:37] What will Millennials and Gen Z make of neoliberalism?Millennials and Generation Z are living in a kind of schizophrenic subjectivity that comes from the rejection of capitalism and the sluggish, dinosaur-like pace of parliamentary or constitutional democracy that is now so deeply corrupted by neoliberal money and corporate power. One of the things I see coming from these generations is the rejection of those two things as the necessary coordinates of the political and economic future, and I think all the hope rests there.[17:46] Is there a way for neoliberalism and democracy to coexist?Why I’m impatient with a neoliberal conception of democracy as a way to redress either the gross inequality or the serious existential dangers that we face now is that it’s basically saying, “Go join something, go feel like you’re part of something,” but let the major powers that shape our lives run through markets that presumably run through no hands at all. We rather desperately need to get our hands on those powers.[20:37] Is it possible to move past the neoliberal worldview given that it’s been dominant over the past generation?Yes. The Keynesian system lasted for fifty years. No one thought it could be taken apart and everyone thought it was here to stay. The question for the neoliberals was always to try to figure out how to keep it from getting worse and how to prevent this straight on drive toward complete socialism, and keep some markets in the picture. So, one generation is not a lot of time. The second thing I want to say is that we are obviously in a very serious political crisis where there’s an impatience with the current system and a belief that it’s not serving people or the planet. not just the left and right edges, but left and right mainstreams now um, the impatience with the- with the current system, and the belief that it’s not serving people, or the planet, is very strong. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.