Academic journal article Journal of Australian Political Economy

Damien Cahill: The End of Laissez Faire: On the Durability of Embedded Neoliberalism

Academic journal article Journal of Australian Political Economy

Damien Cahill: The End of Laissez Faire: On the Durability of Embedded Neoliberalism

Article excerpt

Damien Cahill

The End of Laissez Faire:

On the Durability of Embedded Neoliberalism

Edward Elgar, Cheltenham, 2014, 199pp.

There was a common expectation that neoliberalism's influence would be jolted, if not obliterated, by the global financial crisis that began in 2008-9. Yet the policies of privatisation, deregulation and marketisation have continue apace, now supplemented by the macroeconomic austerity policies that have compounded hardship and economic inequalities in many nations since the GFC struck.

This new book is a thorough analysis of the nature of neoliberalism and the reasons for its persistence. Cahill's arguments about 'socially embedded' neoliberalism, drawing on concepts developed by Karl Polanyi but also influenced by Marxist method and institutional political economy, are the basis on which he develops his explanation of neoliberalism's resilience. This contrasts with idealist, or ideas-centred, approaches to neoliberalism that take propositions about 'free markets' and 'small government' at face value without due regard to the class forces and institutional foundations in which neoliberal practices are deeply embedded. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.