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The Neoliberal Paradox

Ray Kiely

This ambitious work provides a history and critique of neoliberalism, both as a body of ideas and as a political practice. It is an original and compelling contribution to the neoliberalism debate.
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Chapter 3: Neoliberalism and the crisis of liberal modernity in the 1930s

Ray Kiely


This chapter charts the emergence of neoliberal theory in the 1930s and 1940s, which emerged through the formation of the Mont Pelerin Society after the Second World War. The chapter examines the various strands of neoliberal thought at the time, and in particular the Austrian School, the German ordo-liberal school, and the early Chicago School. The chapter provides a critical reflection on both the mass society thesis considered in Chapter 2, and the neoliberal interpretation of it considered in this chapter.

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