NEOLIBERALISM : A Critical Reader

Edited by Alfredo Saad-Filho and Deborah Johnston

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"Bravo! Some of the most incisive students of neoliberalism gather together to present a stunning indictment of the destructiveness of the already discredited right-wing economic régime." Professor Michael Perelman, California State University, Chico

"Across its thirty chapters, covering theoretical, empirical, policy and political aspects for different regions of the world, this collection of essays on neo-liberalism establishes that it is not merely a temporary phase of contemporary capitalism. Rather, it is the reflection of deep-rooted structures and processes, forging a rhythm in capitalist development that inevitably releases appalling consequences albeit in historically specific circumstances. In short, neo-liberalism, like imperialism, underdevelopment, fascism, world wars and so on, is not some aberration but an immanent aspect of capitalism." Professor Ben Fine, School of Oriental and African Studies, University of London

"This scholarly yet deeply engaged book will do much to to put the record straight on what neoliberalism is and what its actual effects have been on those who have gained from it and the much larger numbers who have been afflicted by it. The geographical scope and analytical sophistication of the contributions make it one of the few really reliable guides to this complex and life-threatening ideology." Professor Leslie Sklair, London School of Economics

Neoliberalism is the dominant ideology shaping our world today. It dictates the policies of governments, and shapes the actions of key institutions such as the WTO, IMF, World Bank and European Central Bank. Its political and economic implications can hardly be overstated.

Yet there are obvious problems with the neoliberal project. This book is a perfect introduction to neoliberalism that is ideal for anyone seeking a critical perspective. It explains the nature, history, strengths, weaknesses and implications of neoliberalism from the point of view of radical political economics.

Short, self-contained chapters are written by leading experts in each field. The books is organised in three parts: the first section outlining neoliberal theory, the second exploring how neoliberalism has affected various policy areas, and a third looking at how neoliberal policies have played out in particular regions of the world. Using a broad range of left economic perspectives, from post-Keynesian to Marxist, this is a great resource for students of politics and economics, and anyone looking for a grounded critical approach to this broad subject.

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Alfredo Saad-Filho is Senior Lecturer in Political Economy of Development at the School of Oriental and African Studies, University of London. He is the co-author, with Ben Fine, of Marx's Capital, 4th ed (Pluto Press, 2004), and the editor of Anti-Capitalism: A Marxist Introduction (Pluto Press, 2003).

Deborah Johnston is a Lecturer in Development Economics at SOAS. She has worked on labour markets and poverty, and has undertaken consultancy work in the UK, Russia and in a number of countries in Africa.

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Acknowledgements

Contributors

Introduction – Alfredo Saad-Filho and Deborah Johnston

Part I – Theoretical Perspectives

1: The Neoliberal (Counter-)Revolution – Gérard Duménil and Dominique Lévy

2: From Keynesianism to Neoliberalism: Shifting Paradigms in Economics – Thomas I. Palley

3: Mainstream Economics in the Neoliberal Era – Costas Lapavitsas

4: The Economic Mythology of Neoliberalism – Anwar Shaikh

5: The Neoliberal Theory of Society – Simon Clarke

6: Neoliberalism and Politics, and the Politics of Neoliberalism – Ronaldo Munck

7: Neoliberalism, Globalisation and International Relations – Alejandro Colás

Part II – Surveying the Landscape

8: Neoliberalism and Primitive Accumulation in LDCs – Terence J. Byres

9: Neoliberal Globalization: Imperialism without Empires? – Hugo Radice

10: Neoliberalism in International Trade: Sound Economics or a Question of Faith? – Sonali Deranyiagala

11: ‘A Haven of Familiar Monetary Practice’: The Neoliberal Dream in International Money and Finance – Jan Toporowski

12: From Washington to Post-Washington Consensus: Neoliberal Agendas for Economic Development – Alfredo Saad-Filho

13: Foreign Aid, Neoliberalism and US Imperialism – Henry Veltmeyer and James Petras

14: Sticks and Carrots for Farmers in Developing Countries: Agrarian Neoliberal in Theory and Practice – Carlos Oya

15: Poverty and Distribution: Back on the Neoliberal Agenda? – Deborah Johnston

16: The Welfare State and Neoliberalism – Susanne MacGregor

17: Neoliberalism, the New Right and Sexual Politics – Lesley Hoggart

18: Neoliberal Agendas for Higher Education – Les Levidow

19: Neoliberalism and Civil Society: Project and Possibilities – Subir Sinha

20: Neoliberalism and Democracy: Market Power versus Democratic Power – Arthur MacEwan

21: Neoliberalism and the Third Way – Philip Arestis and Malcom Sawyer

Part III – Neoliberal Experiences

22: The Birth of Neoliberalism in the US: A Reorganisation of Capitalism – Al Campbell

23: The Neoliberal Experience of the UK - Philip Arestis and Malcom Sawyer

24: European Integration as a Vehicle of Neoliberal Hegemony – John Milios

25: Neoliberalism: The Eastern European Frontier – Jan Toporowski

26: The Political Economy of Neoliberalism in Latin America – Alfredo Saad-Filho

27: Neoliberalism in Sub-Saharan Africa: From Structural Adjustment to NEPAD – Patrick Bond

28: Neoliberalism and South Asia: The Case of a Narrowing Discourse – Matthew McCartney

29: Assessing Neoliberalism in Japan – Makoto Itoh

30: Neoliberal Restructuring of Capital Relations in East and Southeast Asia – Dae-oup Chang