Show Less
You do not have access to this content

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.
Show Summary Details
This content is available to you

Index

Ray Kiely

Abrahamsen, R. 178

Abramoff, J. 267, 339

Adam Smith Institute 5, 351

Ahamed, L. 202

AIG 1

Aleem, Z. 357

Alesina, A. 123, 197–8, 221

Allen, G. 360, 361

Allen, K. 286

Alperovitz, G. 290, 291, 293

Amadae, S. 231

Amato, G. 116

Anderson, C. 227

Anderson, E. 317

Anderson, W. 42

Angell, N. 31

Anglo-American growth model 158–61, 205

anti-trust laws 24, 117–18, 132, 253

Appelbaum, B. 346

Ardagna, S. 123, 197–8, 221

Arendt, H. 61, 265, 352

Arnett, G. 283

Arnold, J. 356

Aronoff, K. 344

ARPANET 291

Arrow, K. 319

assets

asset-based welfare 350

and bank lending 199–200

and debt 258–62

housing market, price inflation 158, 159, 162, 191

and inequality 284

and quantitative easing 363

sell-offs 134, 135, 136, 165, 191–2

Atos 207, 247, 249, 285

austerity 182, 196–8, 265, 283, 286

and corporate welfare 242

effectiveness of 200–201

and the Eurozone crisis 198–200

in Ireland 208–9

UK debates on 203–7

US debates on 201–3

Austrian School 35, 47, 281, 366, 367

and the danger of collectivism 39–40

and international security 41–2

and interventionism 40–41

authoritarianism 6, 16, 24, 26, 30, 37, 64, 93, 111, 125, 149–50, 328–9, 331, 337, 368

Bismarckian 169

and competition 239

and de-politicisation 220, 234–5

and market order 328–9

and the New Right 83–90

and ordo-liberalism 54–7

and regulation 209–10, 231, 232

Trump’s 355

Bair, J. 141

Bairoch, P. 63

Bale, T. 75, 76, 79

Balls, E. 158, 159

banking system 41, 155, 190, 212, 214

Anglo-American growth model 159–61

Bank of England Asset Purchase Facility Fund (BEAPFF) 362–3

Barbrook, R. 227, 228

Barclays 245

Barnett, C. 10

Barnett, T. 178

Barr, M. 326

Barry, B. 291

Barry, N. 46

Bauer, P. 4, 104, 113, 114, 137–8, 140, 141, 142, 175, 231, 292

Bauman, Z. 1, 265, 316

Beausang, F. 278

Beck, U. 219, 280

Becker, G. 119–20, 163, 182, 317, 321

Beddoes, Z. 278, 282

Beeson, M. 177

Beetham, D. 21, 55, 266

Beijing Consensus 356

Belfield, G. 248

Bell, D. 82, 84, 89, 355

Bellamy, R. 17, 19, 20, 23, 24, 29, 30, 51, 52, 306–8

Bello, W. 139

Benanav, A. 286, 287, 288

Benn, M. 247

Benston, G. 209

Bentham, J. 18, 59, 316

Berger, S. 149

Berlin, I. 96, 97

Bernanke, B. 121, 194, 195–6, 202

Berry, C. 206, 352

Beveridge Report 75

Birch, K. 2, 5, 29, 179, 236, 243, 259, 261, 282, 323–4, 327, 334

Bishop, M. 229

Blair, T. 151, 153, 155, 156–7, 167, 181, 220, 271, 288, 336

Blinder, A. 220

Block, F. 62

Bloom, A. 226

Blyth, M. 173, 197, 199–200, 201

Boffey, D. 239, 246

Boltanski, L. 216, 224, 225

Bonefeld, W. 44, 45, 54, 55, 111, 115

Booth, P. 2, 5, 179, 208, 211, 212, 334, 338

Boots 249–50

Borch, C. 18, 19

Bork, R. 68, 74, 117, 226, 257, 313

Bortolotti, B. 180

Bosanquet, N. 322

Boulangism 18

Bourdieu, P. 178, 348

Bowles, S. 319

Bowman, A. 247, 249, 252–3, 284

Bowman, S. 5, 25

Braithwaite, J. 10, 338

Bramson, L. 17

Brandt, K. 91, 141

Bratton, W. 24

Bremmer, I. 356

Brennan, J. 316, 317, 337

Brenner, R. 132

Brett, E. 78, 81

Bretton Woods 77, 81, 114, 137, 138, 172, 215, 251, 259, 326, 327

Brexit 206, 346–7, 368

as a challenge to globalisation 352–3

and EU regulations 353–5

and social exclusion 349–50

BRICS 9

emergence of 177, 357–8

British Petroleum (BP) 245

Britnell, M. 248

Brittan, S. 80, 110, 133

Brockling, U. 226, 237, 239, 272

Brown, G. 151, 159

Brown, W. 119, 182–3, 330

Brown v. Board of Education72

Brynjolfsson, E. 281

Buchanan, J. 74, 80, 89, 91, 107, 112, 122, 123, 124, 221, 232, 298, 313, 314

Buchanan, P. 69, 349

Buckley, W.F. 71

Building Societies Act 258

Buiter, W. 4, 141, 177

Bulpitt, J. 145

bureaucracy 18, 22, 317, 351, 354

and entrepreneurship 27, 228, 236–41

and public–private partnerships 246–7

Burgin, A. 2, 3, 46, 47, 69, 72, 79, 89, 90, 91, 231

Burke, E. 16

Burns, J. 272

Burton, M. 164

Bush, G. W. 75, 160, 190, 193, 194, 195, 201, 202

Butler, P. 207, 283

Byres, T. 279

Cahill, D. 2, 3, 340–41

Caldwell, B. 41

Callaghan, J. 133

Cameron, A. 228, 230, 285

Cameron, D. 198, 203, 266, 352

Campbell, D. 247

Campbell, W. 44

Capita 247, 249

capitalism 57–8, 191, 202, 212, 214, 289, 301, 308, 310, 357

and bureaucratisation 237–41

corporatist 27, 46

and the crisis of liberal modernity 82–5

and democracy 50, 56, 61–2

and the development of the EU 167–9

and entrepreneurship 224–9, 234, 244–5

and inequality 279–80

and mass society 23, 91

and methodological individualism 231

philanthro- 233, 279, 291

and precariat 277, 287, 348–9, 365

in the UK, golden age 75

Case, A. 348

Casson, M. 226

Castells, M. 152, 227, 228, 245

Centeno, M. 327

central banks 41, 366, 367

and entrepreneurship 213–14

and the financial crisis 192–3, 196, 198, 212, 284

independence of 45, 123, 158, 169, 170–71, 174, 181, 222

and quantitative easing 198, 326–7, 362–3

Centre for Policy Studies (CPS) 78, 237

Cerny, P. 166, 272

Chakrabortty, A. 244, 250, 353

Chang, H.J. 24, 58, 60, 214, 226, 231, 237, 244, 255, 273, 279, 357

Chiapello, E. 216, 224, 225

Chicago School (early) 46–7

Chicago School (second) 46, 67–70, 183, 220, 237, 268, 359

and concentration of power 115–19

Chile 5, 148–9, 175, 210, 328

China 174, 176, 177, 194, 346

inequality in 276–8

protectionism in 280, 356–7

Chivers, T. 322

Citizens Charter 163–4

civic engagement 44

and post-politics 218, 219

classical liberalism 17, 19, 35–6, 54, 56, 92

and neoclassical economics 335

and state decisionism 331

Clinton, B. 157, 160, 166, 194, 195, 259, 282–3, 288

Clinton, H. 348, 352

clothing industry 273, 280

Coase, R. 67, 115, 117, 119, 120, 183, 243, 260, 323, 324, 360

Cochrane, J. 197

Cockett, R. 37, 38, 76, 78, 79, 80, 169, 310

Cohen, G. 300, 301, 302, 327

Cohen, J. 327

Cole, A. 272

Coleman, J. 154, 163, 240, 337

collectivism 18, 21, 30, 74, 111–13, 236, 264, 311, 328–31, 338, 340

Austrian School on 39–40

and coercion 104–5

and fascism 48, 62, 63

and transfer of liability 162

Colloque Walter Lippmann 36–8

Commodity Futures Modernisation Act 160, 190

competition, competitiveness 76, 263, 266, 313, 315, 321

and austerity 208–9

electoral 23–4, 234–5

and the EU project 170–72

global 270–75

and the gold standard 62

impact of inflation on 78, 134

and individual freedom 38, 112

and inequality 276, 288–9

and interventionism 36–9, 64, 111, 113, 116–19, 155–6, 196–7, 332, 365

and knowledge 321–3

and monopoly 44, 45, 116–17, 255

and the New Right 79

ordo-liberalism on 44, 45, 111, 116

and price theory 239

in public service 166–7, 335

and self-interest 69, 112

state-constructed 239

conservatism

and liberal modernity 82–5

paleo-conservatives 344

and public sector reform 164–6

during Reagan administration 130–32

and the rise of mass society 16–18, 49

during Thatcher administration 143–5

and the third way 163

see also New Right

Constant, B. 16–17

constructivism 9–10, 141, 230, 239

and early intervention 361, 362

as a neoliberal paradox 342–3

and rationalism 57, 83, 120, 122, 124–5, 330

vs. spontaneous order 328–32

consumer sovereignty 65, 325

and individualism 83, 230–31

and the inflationary crisis 82

and market choices 232–3

and mass marketing techniques 28

Cooper, M. 87, 89

Corbridge, S. 140, 141

Corbyn, J. 217, 343, 350

corporate power 5, 64

conglomerates 247–50

lobbying 256

monopoly on knowledge 253–5, 263

and the neoliberal paradox 257–8, 365

and shareholder value 243–5

and social interests 245–7

and taxation 250–53, 272–3

and wealth 291

corporate welfare 241–3, 291, 292, 334

cosmopolitanism 352

Cowen, M. 334

Cristi, R. 52

critical citizens 218, 219

Crouch, C. 2, 118, 158, 159, 196, 211, 215, 216, 217, 222, 237, 238, 245, 246, 248, 249, 251, 253, 257, 260, 263, 289, 320, 321, 322, 325

Cummings, D. 351, 353

Dahl, R. 113

Dale, G. 63

Dalton, I. 248

Daly, L. 290, 291, 293

D’Ancona, M. 351

Dardot, P. 3, 36–7, 44, 84, 108, 120, 170, 171, 180, 237–8, 264, 336

Davidson, N. 240, 265

Davidson, P. 138, 192

Davies, D. 354

Davies, W. 2, 3, 65, 74, 116, 119, 172, 182, 183, 191, 196, 211, 213, 215, 239, 271, 272, 313–14, 315, 316, 317, 325, 336, 337, 340, 344, 347, 350, 359, 360, 363, 364, 365, 367

Davis, M. 31, 285, 348

Deaton, A. 348

debt

and assetisation 258–62

crisis (1982) 4–5, 137, 138, 140–41, 148

and financial crisis 191–2, 357–8

war debts 32

Defense Advanced Research Project Agency (DARPA) 322

de Maistre, J. 16

democracy

and consumer sovereignty 28

in the developing world 178

post- 217–18

and the rise of mass society 16, 20–23, 50, 54

state intervention and the rule of law 306–7, 311–12

suspicion of 91, 110

de-politicisation 51, 219–20, 336–7

and globalisation 223

and neo-liberalism 212–14, 221–4, 264–5

and new capitalism 224–9

and public choice theory 221–3, 234–5

Depository Institutions Deregulation and Monetary Control Act 129

Desai, M. 153

de Soto, H. 231, 279

developing world

and corporate tax 253

entrepreneurship in 231

FDI inflows 176–7

and globalisation 176, 285–6

and interventionism 113–14, 139, 175, 177–9

monopoly of knowledge in 255

neoliberalism in the 80s 137–42, 148

neoliberal tensions in 4

post-Washington Consensus 174–5

DiMartino, G. 150

Director, A. 46, 115

Dixon, R. 240

Dodd–Frank Act 345

Dollar, D. 176

Doogan, K. 229, 230, 287

Dowd, K. 123, 309

Downs, J. 247

Drolet, J.-F. 52, 84, 85, 87

Dubner, S. 318

Dumenil, G. 244, 260

Duncan Smith, I. 360

Easterly, W. 114, 139, 182

Eastern Europe 168–9

Edgar, D. 74, 86, 88, 89, 93

Editorial 333

Edward, P. 276, 278

electorate 289, 367

bribery of 19, 123–4, 221

and competition 23–4, 234–5

during Nazi period 56

and post-politics 217, 218–19, 222

Elkind, P. 256

Elliott, L. 161, 172, 238, 286, 358, 363

employment/unemployment 56, 62, 75, 146, 148, 180, 181

and the Anglo-American growth model 166

during austerity 204, 206, 207

and concentration of power 114, 115

and the crisis of liberal modernity 77–8, 81

and freedom 98

and inequality in the knowledge economy 281–2

and inflation 121–4

post-war period 32, 33

precariat 277, 287, 348–9, 365

during Reagan administration 131

during Thatcher administration 133–7

entrepreneurship 44, 51, 53, 110–11, 139

and bureaucracy 27, 228, 236–41

in the developing world 231

and individualisation 212–13, 225–9

inequality and competitiveness 273–4, 280–81

and new-capitalism 224–9

and philanthro-capitalism 233

in the public sector 156, 159, 164

and state intervention 153, 155

epistocracy 118, 317

Epstein, R. 293

Eucken, W. 55, 111, 115

EURIBOR 245

Eurodollar 140, 251

European Union 351–2

and the euro project 172–3, 208

and ordo-liberalism 169–71

Eurozone crisis 198–207

Evans, P. 309

Evans, R. 32, 61

Exchange Rate Mechanism (ERM) 136, 173

Fama, E. 159, 190, 243, 323

family

and cost–benefit analysis 120

and the New Right 89–90

welfare systems 157, 207, 283, 362

Fannie Mae and Freddie Mac 189, 190, 193, 195, 212

Farnsworth, S. 241–2, 250

Farrant, A. 149

fascism 21, 29, 30, 40, 48–50, 56–7, 62, 63, 368

Febrero, R. 120

Federal Reserve 67, 121, 129, 161, 189, 195–6

Federal Trade Commission (FTC) 74, 117

Felner, W. 232

Fenton, N. 254

Ferguson, J. 178

Ferguson, N. 198, 204, 205, 285

financial crisis 1, 187–8

and austerity 196–207

bail-outs 1, 148, 188, 198, 200, 210, 211, 213, 256, 324, 334, 343, 354, 366

and central banks 192–3, 196, 198, 212, 284

Eurozone 198–200

and the housing market 189–96, 350–51

and interventionism 338–40

and state regulation 207–11

Financial Crisis Commission of Inquiry (FCIC) 187, 189, 190

Financial Service Authority 209, 231, 245, 264, 321

Fine, B. 163

Finer, H. 54, 62

Finlayson, A. 154–5, 156, 157, 159, 162, 223, 315, 317, 350–51, 354

Finn, D. 159

Fischer, K. 148, 328

Fisher, A. 76

Fisher, M. 363

Flinders, M. 219

Florida, R. 225, 226

foreign direct investment (FDI) 176–7, 275

Foucault, M. 3, 11, 43, 44, 45, 60, 105, 119, 162, 178, 182, 183, 239, 260, 330, 336

Francis, S. 344

Frank, T. 102, 147, 226, 228, 248, 267–8

Frankfurt, H. 274

Franklin, M. 218

freedom 16–18, 315–16

Austrian School on 39–43

and democracy 54

and entrepreneurship 111, 230–31, 236–7

and market choices 27–8, 315–16

and market predictability 298

Mont Pelerin Society on 38

negative 70, 95–6, 98–9, 104, 111, 120, 302–3

positive 96–7

and private property 38, 97–101, 296

and property acquisition 300–301

and the provision of public goods 298–300

and rights 97–102

and social justice 296–7, 303–4

and the third way 154

and virtue 6, 83

and the welfare state 104–5

free market 1, 4, 27, 30, 54, 96, 144, 179, 256, 268, 304, 329, 333–4, 341–2, 351, 364, 367

and bureaucracy 237

in currencies 93, 213, 366

and elitism 19

and entrepreneurship 229

and family cohesion 90

and fear of the masses 50

and globalisation 274

and liberal peace 42

neoliberal paradox on 310–11

and the New Right 77, 79, 90, 93

and price mechanisms 122–3

and property rights 100–101

as a source of liberty 96, 98

Freiburg School, see ordo-liberalism

French Revolution 16

Frey, C. 281

Fridell, G. 289

Friedli, L. 206–7

Friedman, M. 4, 5, 7, 37, 46, 67, 70, 72, 74, 77–8, 79, 80, 82, 117, 121, 122, 123, 188, 189, 196, 202, 208, 213, 220, 231, 232, 265, 315, 334

Capitalism and Freedom68, 73, 117–18

Friedrich, C.J. 43

Frobel, F. 286

Frost, G. 329

Fukuyama, F.

The End of History85, 217, 356

Furceri, D. 278

G4S 248–9, 252

Gaebler, T. 112, 167

Galbraith, J. 32

Gamble, A. 5, 57, 75, 77, 78, 81, 83, 89–90, 92–3, 125, 134, 135, 136, 137, 145, 179, 200, 201, 211, 241, 257, 304, 309, 312, 330, 331, 338, 364

Gane, N. 239, 362, 363, 364

Garside, J. 363

General Agreement on Trade and Tariffs (GATT) 138, 139

Gentleman, A. 207

Geras, N. 302

Germain, R. 188

Germany

interbellum crisis 31–3

ordo-liberalism 43–6

Giddens, A. 154, 155, 164, 175, 228, 230, 244, 271, 274, 285

Gide, C. 20

Gilbert, J. 217, 222, 336

Gill, S. 178

Gillingham, J. 182

Gilmour, I. 144

Gindin, S. 132, 169, 194, 260

Gingrich, N. 228, 267

Gini co-efficient 278

Glass, C. 71

Glass–Steagall Act 159, 160, 190

globalisation

and Brexit 352, 353

and competitiveness 270–74

and de-politicisation 223

in the developing world 176, 285–6

inequality and poverty 274–9

and social exclusion 285–8

and the third way 151–7

Glyn, A. 140

Goldacre, B. 322

gold standard 32, 33, 122, 173, 208, 366

and free trade 42, 58–60, 62–3

and UK interventionism 40–41

Goldwater, B. 70, 74

The Conscience of a Conservative71–2

Goodwin, M. 347

Gore, A. 153

Gorz, A. 281

Gottfried, P. 344

Gove, M. 247, 351

government sponsored enterprises (GSEs) 189–90

Gowan, P. 81, 132, 168–9

Grabel, I. 223

Graeber, D. 237, 238, 240, 321

Gramm–Leach–Bliley Act 159–60, 190

Gramsci, A. 26

Grant, U. 60

Gray, J. 107, 307

Great Depression 15, 31–3

and money supply 121

and state intervention 41

Greece 198–200, 203, 205, 209, 265

Green, J. 352

Green, M. 229

Green, T.H. 18

Greenleaf, W. 145

Greenspan, A. 194, 211

Gregg, P. 156

Grieve Smith, J. 166

Griffin, K. 279

Griffin, R. 48

Hacker, J. 148

Hagtvet, B. 55–6

Hall, D. 1

Hall, P. 158, 168

Hall, S. 87, 136, 143, 147, 152, 227, 245, 260, 285, 286, 287, 349

Halliday, F. 48, 75, 130

Halliday, J. 320

Halper, S. 356

Hanlon, G. 25, 26, 27, 280–81, 365

Hansmann, H. 243

Harcourt, B. 237

Hardin, G. 300

Hardt, M. 52, 224, 287

Harigan, J. 150

Harling, P. 58

Harris, R. 76

Harrison, G. 178, 229, 279

Harris-White, B. 258

Hartwell, R. 38–9, 92

Harvey, D. 2, 3, 309, 334, 335

Haseler, S. 168, 169

Hay, C. 133, 152, 157, 158, 181, 217–18, 219, 221–2, 223–4, 230, 234–5, 326

Hayek, F. 4, 26, 36–7, 42, 52, 57, 63, 67, 78, 81, 82–3, 88, 89, 90, 96, 97–8, 104, 106–9, 111, 116, 117, 123, 124–5, 144, 148–9, 150, 192, 213, 292, 295–7, 298, 299–300, 304–8, 309, 311–12, 324, 328–9, 330, 332, 335, 365–6

The Road to Serfdom38, 39–41, 48, 53–4, 56, 57, 64, 68

Studies in Philosophy, Politics and Economics105–6

Healey, D. 147

Heath, E. 77, 79

Heath, O. 347

Heinrichs, J. 286

Helgadottir, O. 197, 208

Helleiner, E. 81, 138

Heller, H. 64

Help to Buy 205

Hencke, D. 166

Hendrikse, R. 359

Henwood, D. 176, 286

Her Majesty’s Inspectorate (HMI) 263

Hill, M. 135

Hills, J. 283

Himmelfarb, G. 86

Hitler, A. 26, 32, 41, 48, 52, 55, 56, 60–61, 115, 352

Hobhouse, L. 18, 290

Hobsbawm, E. 31–2, 33, 49, 50

Hobson, J. 18, 227

Hodgson, G. 26, 39, 243, 292, 324

Holton, R. 22

Hood, C. 112, 167, 240

Hoover, K. 130–31, 132

Horwitz, R. 70, 71, 72, 73

Hoskyns, J. 79

housing market

and the financial crisis 189–96, 350–51

and the third way 161–2

Howe, A. 31

Hozić, A. 207

Hughes, A. 140

Huntington, S. 145, 178, 217

Hutt, W. 28, 232

Hutton, W. 345

Ickovitz, A. 279

ICT industry 229

Ikenberry, J. 42

imperialism

British vs. protectionist 59–60

economic 120

Nazi 61

import substitution industrialisation (ISI) 139, 220

India 61, 177

export, impact of monopoly on 255

poverty 277–8

tariff rates 276

individualism 16, 167, 265, 312–13

Austrian School on 39–43

methodological 154, 212, 230–31, 233, 262, 272

and neuroscience 360–62

and the New Right 90

and the new spirit of capitalism 234, 236, 288

and the question of race 72

sovereignty and market order 83

see also freedom

inequality 270, 285, 296, 302, 337, 368

and asset ownership 284, 363

and debt rising 259–60

deserts and rewards 288–93

and development 275–80

and employment 281–2, 283

global, and competitiveness 272–4

and individualism 18, 51, 234

and New Labour 181

in post-war development 140

the 80s 130, 132, 146

and social justice 85, 156

inflation 46, 221, 258–9, 367

of asset prices 158, 161

and the EU project 171–2

and money supply 121–4, 326–7

and the New Right 75–8, 80, 81–2, 89, 92

in the UK 132–4, 136

in the US 129

in Weimar Germany 32

Ingham, G. 192, 326

Institute for Fiscal Studies (IFS) 4

Institute of Economic Affairs (IEA) 76, 78

International Comparison Program (ICP) 276

International Labour Organization (ILO) 277

International Monetary Fund (IMF) 4, 114, 148, 150, 174, 175, 180, 198, 337, 357

and globalisation 176

loan agreements with 133

policing the debt crisis 141–2

trade measures 276

and the Washington Consensus 137–8

Internet, and the new capitalism 153, 228, 291

interventionism 35–7, 109

and austerity 202, 206–7

and competition 37, 40–41, 67–8, 271–2

and the crisis 193–6

and de-politicisation 212–14

in the developing world 113–14, 139, 175, 177–9

early, and neuroscience 360–62

early Chicago School on 46–7

management 365

and market order 108–9, 111–14, 122–4, 304–13, 329–30

and monetarism 326–7

and neoliberalism 334–6, 338–40

and ordo-liberalism 43–5, 111

quantitative easing 198, 326–7, 362–3

self-interested 69, 112

and social justice 296–7

vs. spontaneous order 40, 106–9, 329–32

and the third way 155–7

and total bureaucratisation 240

investment banking 240, 251

liberalisation of 190

and the third way 159–61

Investor-State Dispute Settlements (ISDS) 256

Ireland, austerity in 208–9

Ireland, P. 25, 244

Jackson, B. 37, 41, 146, 147

Jacques, M. 136, 143, 147, 152, 227, 245

Japan 194, 250

golden age in 75

protectionism in 60

and US deficits 132

Jaworski, P. 316, 337

Jensen, M. 243, 261, 323

Jessop, B. 137, 147, 166, 272

Jilami, Z. 157

John Birch Society 71

Johnson, H. 139

Johnson, P. 86

Johnson’s Great Society 73

Jordana, J. 4, 180

Joseph, K. 78–9, 114, 135, 337

JP Morgan 160

Jubilee Debt Campaign 358

Kakel, C. 60

Kanbur, R. 277–8

Katznelson, I. 72

Kay, J. 354

Keith, M. 356

Kennedy, P. 132

Kennedy, R. 349

Kenny, M. 152

Keynes, J. M., ‘Keynesianism’ 33, 41, 46, 68, 72, 77–8, 89, 92, 121, 123, 138, 141, 158, 159, 166, 172, 173, 181, 192, 197, 201–2, 204–5, 208, 214, 225, 260, 261, 309–10, 346, 359, 364, 366

key performance indicators (KPIs) 237, 240, 319–20

Khan, A.R. 279

Kiely, R. 60, 63, 81, 132, 178, 194, 195, 255, 273, 275, 280, 286, 353, 357, 365

Kindleberger, C. 161, 191, 214

King, D. 130, 131, 146

King, M. 210

Kirk, R. 83, 84

Kirkpatrick, J. 48, 75

Kirzner, I. 281

Kjar, S. 42

Knafo, S. 237

Knight, F. 46, 47

knowledge 299, 308, 317, 340

and competition 321–2

and concentration of power 118, 325

distortion of 215, 253–5, 263, 322, 323

and the financial crisis 211

impact on employment 282

incommensurability of 364

limits of 40, 47, 64, 65, 106, 112, 191, 313, 331–2

management control of 25

and market prices 314

and new-capitalism 153, 155, 227–8, 290–91

and private property 293

Kochan, T. 282

Kohlberg Kravis Roberts (KKR) 249–50

Konings, M. 193, 195, 213, 260, 289, 340

Kornhauser, W. 113

Kramnick, I. 27

Kraakman, R. 243

Kraay, A. 176

Kreye, O. 286

Kristol, I. 4, 73–4, 75, 82–6, 88, 90, 91, 124, 217, 311, 349, 356

Krueger, A. 113, 139

Krugman, P. 198, 366

Kuczynski, P. 140

Kymlicka, W. 301

labour 24

division of 214, 262

and property rights 100

rise of precariat 287

see also employment

Labour government 38, 75–7, 79, 132–3, 203–4, 283, 333, 335; see also New Labour

Laffer, A. 122, 130, 131, 181, 345

Lahoti, R. 275, 277

Lal, D. 113, 142, 174, 212

Landa, I. 17, 50

Langley, P. 159, 258, 259, 260

Larner, W. 10

Lash, S. 356

Lassiter, M. 72, 73

Latin America

debt crisis 4–5, 140–41, 198

government intervention in 180

Laval, C. 3, 36–7, 44, 84, 108, 120, 170, 171, 180, 237–8, 264, 336

Lavoie, D. 40

Lawson, N. 136, 351

Lazonick, W. 244

Lazzarato, M. 259, 260

Leadbeater, C. 182

LeBaron, G. 283

Le Bon, G. 18–19, 21

Leggett, W. 266

Le Grand, J. 239

Leveson Inquiry 253, 254

Levi Faur, D. 4, 180

Levitas, R. 88, 89, 156, 157, 285, 361

Levitt, S. 318

Levy, D. 244, 260

liberal peace theory 42, 58–9

LIBOR 140, 245

Liddle, R. 157

Lipietz, A. 140

Lippmann, W. 19, 36, 338

Colloque Walter Lippmann 36–8

List, F. 60

Lloyd, J. 153

Locke, J. 59, 99, 100–101, 290, 300

Lodge, O. 209

Loungani, P. 278

Lucas, R. 159, 161

Ludlam, S. 133

MacKenzie, D. 191

Mackintosh, M. 113, 309, 325

Maddison, A. 140

Mair, P. 217, 220

Malik, K. 348

Malik, S. 181

Mallaby, S. 132

management theory 47

individualism and competitiveness 365

and the rise of mass society 25–9

Mandelson, P. 157, 181, 350

Mandeville, B. 69

Mandler, P. 58

Mann, M. 31

Marin, X. 4, 180

market order 124, 305, 311

Austrian school on 39

and authoritarianism 328–9

and competition 308

and constructivism 329–32

and consumer sovereignty 83

distortion of 303–4

Hayek’s views on 39, 118, 307, 329

and inflation 122

intervention and the rule of law 106, 108, 110, 114, 116, 150, 237, 304–13, 329

and ordo-liberalism 37, 43, 170

Martin, R. 229

Marx, K. 17, 58, 290

Marxism Today147

Mason, P. 160, 161, 162, 187, 188

Mason, R. 227, 271, 361

mass marketing 28, 51, 65, 232

mass society 33–4, 341

and classic liberalism 18–19, 35–6

and conservatism 16–18

and corporate management 24–9

critiques of 48–63, 359–60

and elite theory 21–4, 264–5

fear of 29–31, 50

and the Great Depression 31–3

May, T. 352, 353

Mayo, E. 26–7

Mazower, M. 60, 61

Mazzacuto, M. 291, 353

McAfee, A. 281

McCarthy, T. 87

McChesney, F. 267

McClelland, D. 225

McGirr, L. 71, 73

McGoey, L. 191, 196, 211, 229, 253, 279, 289, 313–14, 340

McGreal, C. 202

McLean, B. 256

McPhail, E. 149

McQuarrie, M. 348

Mead, L. 104

Meadowcroft, J. 310, 324

Meckling, W. 243, 261, 323

Medema, S. 115

media management 222, 253–4

Mellon, A. 202

Menger, C. 39

Mental Capital and Wellbeing360

Mettler, S. 242

Michels, R. 21, 25, 50, 55

microfinance 231

Mihm, S. 193

military intervention 178–9, 183, 194, 239

military spending 131–2

Mill, J.S. 17, 18, 30, 59, 290, 315, 320

Miller, E. 74

Mills, C.W. 26

Min, D. 190

Minsky, H. 161, 190, 191–2

Mirowski, P. 2, 35, 67, 115, 119, 125, 190, 196, 230, 314, 328, 331, 335, 340, 341, 364

Mises, L. 7, 27–8, 37, 40, 41, 42, 45, 47, 48, 56–7, 59, 65, 91, 225, 236

monetarism 46, 92, 326–7

and inflation 122, 123

and the New Right 78, 79, 81

quantitative easing 198, 326–7, 362–3

Montgomerie, J. 207

Montgomery, D. 25, 26

Mont Pelerin Society (MPS) 76, 90–92, 114, 231

statement of aims 38–9

Moore, H. 203

Morozov, E. 228, 280

Morris, P. 237

mortgage-backed securities (MBSs) 188, 193–4; see also housing market

Mosca, G. 20–21, 30, 50

Mosley, P. 150

Moss, R. 123

Mosse, G. 56

Mouffe, C. 52

Mount, F. 257

Moynihan, D.

The Negro Family: The Case for National Action73

Mudge, S. 10

Mulgan, G. 157, 315

Mulholland, M. 17

Muller, J.-W. 29, 30, 31, 50, 223, 368

Muller-Armack, A. 45, 55, 169

Multi-Fibre Agreement 139

Munck, R. 287

Muniesa, F. 240

Murray, C. 104, 131, 157, 285

Mussolini, B. 20, 21, 29, 50

Myrdal, G. 273

Nagel, T. 302

National Health Service (NHS) 143, 167, 241

and bureaucratisation 238

and conglomerates 247, 248, 250

impact of trade agreements on 355

and public sector reform 163, 165–6

state spending on 146

National Review71

Nazi Germany 39–40

and authoritarianism 54–5

electorate 55–6

imperialism of 61

and the rule of law 51–3

Neate, R. 264

Needham, C. 163, 164, 166, 181

Negri, T. 52, 224, 287

Neild, R. 258

neoclassical economics 39, 115, 117, 118, 125, 335

Neocleous, M. 365

neoliberalism

definitions 10, 183, 193, 294, 309, 333–4

paradoxes 3–6

and non-interventionism 338–40

spontaneity vs. constructivism 10, 342–3, 358–64

neuroscience 360–62

New Deal 31, 33, 40, 46–7, 70–73, 85, 86, 159

New Labour 87, 246, 267, 285, 333

and Brexit 349–50

electorate 350

and growth model policies 158, 203–4, 210

and inequality 181

poverty rates under 283

and public sector reform 163–7, 183

and social exclusion 156–7

and workfare policies 206–7

new public management 112, 164, 167, 182, 222, 240, 258, 335

and power concentration 319–20

New Right 4, 6, 66, 92–3, 104, 225, 228, 265, 340, 344, 349

and authoritarian neoliberalism 80–90

and new capitalism 225

on poverty 361

on the role of the family 89–90

suspicion of democracy 91

in the UK 75–80, 86–8

in the US 70–75, 80–86

New York Times283

Next Steps report 147, 239, 257

Nicholls, A. 36

Nickell, S. 210

Niskanen, W. 69, 131, 237

Nolan, P. 278

Norquist, G. 102

Norris, P. 218

North, D. 279

Nothstine, R. 5

Nozick, R. 99–104, 124, 291, 300–302

‘nudging’ 265–6, 320, 359, 362

Oakeshott, M. 90, 107, 144

Obama, B. 71, 201, 202, 203, 256, 343, 348

oligarchy 21, 256, 266, 350

oligopoly 24

Ollman, B. 302

Olson, M. 109, 122

O’Neill, J. 177, 275, 356

Ong, A. 10

ordo-liberalism 45–6, 220, 337, 358–9

and authoritarianism 54–7

influence on European Union 169–71

and market order 310

and state intervention 43–5, 111

Ortega y Gasset, J. 29–30

Osberg, S. 229

Osborne, D. 112, 167

Osborne, G. 203, 204, 206

Osborne, M. 281

Ostry, J. 278

O’Sullivan, M. 244

Overy, R. 31

ownership, see property rights

Pabst, A. 266

Pack, S. 27

Paine, T.

Agrarian Justice290

Painter, C. 165

Palan, R. 230, 250, 251, 285

paleo-conservatives 344

Palley, T. 190

Palma, G. 244, 259, 261–2, 282

Panitch, L. 132, 169, 178, 193, 194, 195, 260

Pantaleoni, M. 20

Papps, I. 89

Pareto, V. 19–20, 22, 26, 30, 50, 221

patents, and corporate power 254–5

Paulson, H. 194

payment protection insurance (PPI) 246

Payne, C. 79, 158, 189, 193, 194, 195, 196, 210, 213, 214

Pearce, N. 204

Peck, J. 2, 325, 338, 339, 363

Pennington, M. 104, 189, 310, 324, 334

Perry Beeches scandal 246

Peters, T. 226

philanthro-capitalism 229, 233, 291

and inequality 289

and poverty 279

Phillips, A. 121

Phillips-Fein, K. 71, 82

Pierson, P. 143, 148

Piketty, T. 284, 363

Pinto, E. 190

Plant, R. 2, 3, 100, 101, 103, 104, 107, 108, 110, 130–31, 132, 164, 297, 299, 300, 302, 303, 311

Plehwe, D. 35, 37, 38, 113

Podhoretz, N. 73, 75

Polanyi, K. 5, 58, 61–2, 63, 90, 237, 240, 329, 335, 368

Pollitt, C. 164, 237

Ponzi scheme 161, 191

populism 18, 65, 66, 92, 223, 326, 340

and consumer sovereignty 231

and de-politicisation 223, 367

vs. elitism 6, 265, 366

Keynes’s 46

and race 72

and the ‘rivers of blood’ speech 77

and taxation 101–2

vs. technocracy 267–8, 367–8

Porter, M. 272

Portes, J. 345, 347

Posner, R. 68, 74, 115, 117, 163, 234, 292, 293, 318

post-politics 216–19, 348

and de-politicisation 222–4, 264–5

poverty 338, 363

and early interventionism 361, 362

and globalisation 274–9

in the UK 276–7, 283

in the US 130–31

Powell, E. 76, 77, 79, 86, 110

Power, M. 240

power concentration

and competition 117–18

vs. domination 120

and elitism 325–6

and knowledge (epistocracy) 118, 317

and market choice 315–16

and market incentives 318–19

and objectivity 314

in the private sector 325

and public policy 317–21

and trade unions 114

and transaction costs 115, 324

price mechanisms 40, 64, 78

and the free market 122–3

and the gold standard 62

vs. price theory 191, 314

and property rights 103

price theory 65, 125, 183

and competition 239

and the concentration of knowledge 118–19

vs. price mechanisms 191, 314

Pricewaterhouse Coopers 245

Pritchett, L. 277

Private Finance Initiative (PFI) 1, 165

private sector, private property 4

asset purchase 362–3

and freedom 38, 97–101, 296

and the Nazi regime 57

and ordo-liberalism 44

and power concentration 325

public–private partnership 246–7

and the rise of mass society 21

and self-interest intervention 69

during the Thatcher administration 136

wealth creation and tax 292–3

‘privatised Keynesianism’ 159

Procter and Gamble 281

proletarianisation, and ordo-liberalism 44

property rights

and freedom 97–101, 300–301

and shareholder value 243–4

transfer of 101–2

TRIPS 254, 255

protectionism 42, 48, 61, 63, 334, 346

China’s 280, 356–7

in developing countries 139, 176

and development strategies 113, 291

and imperialism 60

by paleo-conservatives 344, 345

Ptak, R. 328

public choice theory 20, 46, 67, 69, 148, 149, 173, 197, 315, 337, 359, 367

and de-politicisation 221–4, 234–5

and interventionism 139

and the new class theory 74

paradox within 266–7

public sector 112, 163–4, 180–81, 222, 338

and bureaucratisation 238–40

marketisation 164, 167, 319–20

and power concentration 325

provision of safety nets 299–300

public–private partnerships 163–5

risk transfer 166

purchasing power parity (PPP) 275, 277

Putnam, R. 218–19

quantitative easing (QE) 198, 202, 327, 362–3

Quiggin, J. 363

race question 72, 89

Rahbari, E. 177

Ramesh, R. 247

Ramo, J. 356

Ranciere, J. 216, 217

Rand, A. 71, 226, 272, 345, 346

Rawls, J. 85, 102, 302

Reagan, R. 4, 70, 72, 75, 92, 129–32, 147, 160, 201, 202, 334, 344, 346, 353

Reddy, S. 275, 277, 278

Regan, A. 209

Reinhart, C. 5, 198, 203

religion 73, 84, 91

representation 17

resilience 364–5

Ricardo, D. 59, 227, 272, 290

Rice Tec 255

Riddell, P. 147

Rieter, H. 43, 54

Rifkin, J. 227

Robbins, L. 46, 90

Roberts, S. 178

Robertson, G. 346

Robin, C. 149, 265

Rocca, M. 50

Roddick, J. 140

Rodrik, D. 276, 286

Rogoff, K. 5, 198, 203

Roocker, T. 356

Roosevelt, T. 70, 71, 72

Ropke, W. 43, 44, 55, 64, 65, 91, 110, 182

Rose, H. 360, 361–2

Rose, N. 162, 239

Rose, S. 360, 361–2

Rothbard, M. 41, 96, 102–3, 104, 124, 243, 297, 309

Roubini, N. 193

Rougier, L. 36, 37, 79, 210

Ruddick, G. 250

Rueff, J. 171

rule of law 69, 83, 145, 174, 339

defence of 21, 30, 38, 39, 53–4, 110, 331

and equality 49, 103

and freedom 96, 98, 296

and interventionism 106–14, 295, 296–7

and market order 39, 108–9, 304–13

in Nazi Germany 51–3

and politics 51–2

and property rights 102

and provision of public goods 299

and spontaneous order 107

Runciman, D. 348

Rusher, W. 74

Rustin, M. 147, 227

Rustow, A. 36, 44, 45, 54–5

Ryan Plan 201–2

Sachs, J. 168

Saint-Paul, G. 360

Salisbury Group 78, 145, 146

Sandel, M. 315, 316, 318, 319, 323

Sanders, B. 349, 353

Sanders, J. 302

Satz, D. 233, 316, 319

Saull, R. 265

Saunders, R. 146, 147

Savage, M. 284

Sayarer, J. 248

Schattschneider, E. 217

Scheuerman, W. 53, 331

Schmidt, V. 2, 364

Schmitt, C. 44, 50–54, 55, 56, 64, 80, 85, 87, 93, 220, 328, 331

Schmolz, M. 43, 54

Schuck, P. 318

Schulman, J. 182

Schumpeter, J. 19, 28, 53, 82, 115, 166, 225, 271–2, 291, 310, 344, 355

Capitalism, Socialism and Democracy23–4, 27, 85, 202

Schwartz, A. 67, 121, 189, 196, 202

Schwartz, H. 132, 195

Schwartz, P. 120

Schwarzkopf, S. 28, 65, 233

Schwarzmantel, J. 21

Scotchie, J. 344

Scott, A. 167

Scruton, R. 78, 88, 89, 90

Secor, A. 178

Securities and Exchange Commission (SEC) 189, 190, 195, 196

Seldon, A. 76

Sen, A. 292, 298, 311, 315

Serco 247, 248–9, 263

Sewell, D. 246

Shachtman, M. 85

Shaikh, A. 62

shareholder value 118, 249, 252

and corporate power 243–5

maximisation (SVM) 261, 286–7, 323, 353

Shaxson, N. 251, 326

Shearmur, J. 107, 299

Shenfield, A. 91

Shenton, R. 334

Sherman, A. 86, 89

Shiva, V. 255

Sidaway, J. 359

Silicon Valley 228, 345, 348

Simons, H. 37, 46–7

Singh, A. 140

Siniscalo, D. 180

Sivanandan, A. 227

Skocpol, T. 202, 343

Slawson, D. 324

Smedley, O. 76

Smith, A. 25, 50, 59, 69, 106, 312, 313, 315

Smith, M. 152

social capital 310, 337, 359

in post-political context 218–19

and the third way 152–5, 163

social distribution 101–2

social exclusion 175

globalisation and inequality 285–8, 356

and the third way 155–7

and Trump/Brexit 346–50

social justice 279, 296, 300, 314, 317

and freedom 103, 104, 296–7, 302, 303–4

redefinition of 156, 350

rejection of 82, 84, 85, 97, 109–10, 113, 155, 311

Soederberg, S. 262

Soskice, D. 158, 168

Southern Cross 249

Soviet Communism 68

Sparke, M. 178

Spash, C. 232

The Spectator275

Spencer, H. 35–7, 214, 242

Spicer, A. 282

spontaneous order 88, 106, 125, 354

vs. constructivism 306, 328–32, 364

as market order 40, 64, 304

as a neoliberal paradox 342–3

and tradition 107

Spottiswoode, C. 320

Springer, S. 5, 10

Srinivasan, T. 4, 141

Srnicek, N. 251, 281, 287

Stability and Growth Pact 171–2

Standard & Poor (S&P) 261

Standing, G. 287

Stearn, R. 206–7

Stedman-Jones, D. 2, 37, 130, 131, 133, 310

Steiner, H. 96–7

Stepping Stones79

Stern, F. 56

Stevens, S. 248

Stigler, G. 65, 69, 124, 257

Stiglitz, J. 1, 195, 250

Stockman, D. 130

The Triumph of Politics131–2

Stoker, G. 326

Stoller, M. 349

Strauss, M. 79

Streeck, W. 172, 224, 259, 282, 327, 358, 366

Streit, C. 42, 59

structured investment vehicles (SIVs) 161

Sumner, A. 178, 276, 277, 278

Sunstein, C. 265–6, 359

Swedberg, R. 163

Taft, R. 71

Talbot, C. 10

Tarnoff, B. 345, 346

taxation

and corporate power 250–53

inequality and competitiveness 272–3

and money supply 122

and property rights 101–2

Reagan administration 130–31

Thatcher administration 134

and wealth creation 292–3

Taylor, C. 297

Taylor, F.W. 25

Taylor, J. 25, 58

Taylor, M. 148

Taylor-Gooby, P. 135, 240

Tea Party 1, 70–71, 202, 343–4

Tebbit, N. 79

technocracy 133, 178, 289, 325, 358

and de-politicisation 216–17, 220, 223, 235

vs. populism 267–8, 368

Temporary Assistance to Needy Families (TANF) 157, 283

Tepe-Belfrage, D. 207

Tett, G. 160, 191

Thaler, R. 265–6, 359

Thatcher, M. 2, 4, 76–7, 79, 119, 132–7, 143–7, 341, 364

Thibaud, P. 236–7

Thiel, P. 345, 351

third-sector expansion 112–13

third way

and the Anglo-American growth model 158–61

and constructivism 163

and globalisation 151–7

and the housing market 161–2

Thompson, H. 136, 143, 161, 193, 194, 195, 363

Thorneycroft, P. 76

Threadless 280

Thrifty Food Plan 277

Thurow, L. 349

Titmuss, R. 318, 319

Tocqueville, A. de 16, 17, 56, 224, 266, 330–31

Toffler, A. 228

Tooze, A. 32, 33, 58–9, 60, 61, 170

Topolova, P. 278

Tormey, S. 224–5, 234

totalitarianism 48

dangers of 38

inverted 236, 241–58

vs. liberalism 111

Toye, J. 141, 142, 150

trade deficits

in Germany 170

in the US 132, 148

transaction costs 115, 323–4, 354

Transatlantic Trade Investment Partnership (TTIP) 256

Tribe, K. 54, 328

TRIPS (Trade Related Intellectual Property Rights) 254, 255

Troubled Families Programme 207, 362

True, J. 207

Trump, D. 71, 286

and authoritarianism 355

and mass society theories 352–3

rise to presidency 344–6

and social exclusion 346–9

Tsiang, S. 174

Tugendhat, G. 76

Tullock, G. 69, 110, 112, 124, 149

Tunney, J. 228

Turner, B. 22

Turner, R. 43, 45

UK Benefit Agency 240

UNCTAD 177, 273, 275, 276, 278, 282, 283

Underwood Tariff 63

United Kingdom

and austerity 198–9, 203–7

corporate tax 250

corporate welfare 241–2, 244

imperialism 60

inequality in 283–4

New Labour and public sector reform 163–7

and the New Right 75–80, 86–8

post-democracy 217–18

power concentration in 315

and precariat 287

quantitative easing in 362–3

regulation, and the crisis 209–11

Thatcherism 132–7, 143–7

see also Brexit

United States

competitiveness and knowledge 322–3

corporate tax 250–51

corporate welfare 242–3, 244

debate on austerity 201–3

debt and assetisation in 259–60

debt crisis 357–8

employment, productivity and precariat 286–7

and the Great Depression 32–3

housing market 161–2, 189–96

impact of the 2008 crisis 1

and incarceration 288

inequality in 282–3

investment banking 159–60

and new capitalism 226

and the New Right 70–75, 80–86

post-politics 217–19

poverty trends 130–31, 276–7

Trump presidency 343–56

Underwood Tariff 63

Urry, J. 250, 251

US Occupy movement 228

Valdes, J. 148

van den Hauwe, L. 192

van Horn, R. 67, 115, 119

Veblen, T. 227, 290–91

Venugopal, R. 10, 289, 341–2

Viner, J. 46, 47

Virginia School 35, 67, 237

vitalpolitik44, 45, 182

Wacquant, L. 178, 194, 288, 352

Wade, R. 174, 275

Walker, A. 135

Wallison, P. 189, 212

Walzer, M. 120, 314, 319

Washington Consensus 137–8, 356

post- 151, 174–5, 177, 229, 329, 337, 357

Waters, A. 78

Watson, M. 157, 159, 182, 209, 210, 223

Watt, R. 247

Wave Trust

The 1001 Critical Days361

wealth creation 139, 291–2

Weber, H. 177

Weber, M. 19, 22–3, 25, 27, 53, 58, 225, 238

Weeks, J. 204

Weiss, L. 334

Welch, R. 71

Weldon, D. 364, 367

welfare

and freedom 104–5, 301

and the New Right 86–8

and ordo-liberalism 44

and social exclusion 285–8

and the third way 156–7

see also corporate welfare

Westley, C. 42

Whalen, C. 192

White, A. 248, 249

White, G. 174, 258, 291

White, L. 189, 195, 196

White Paper on competitiveness 155

Wilby, P. 266

Wilkes, G. 241

Wilkinson, M. 171

Williams, D. 59

Williams, R. 55, 263

Williams, S. 209

Williamson, J. 137

Williamson, V. 202, 343

Winch, D. 59

Winlow, S. 285, 286, 287, 349

Winter of Discontent 133, 135

Wolf, M. 202, 272

Wolin, S. 236

Wood, M. 219

Woodstock 226

workfare policies 87, 105, 180, 288

and austerity 206–7

under New Labour 166

World Bank 114, 141, 142, 156, 177, 212, 220, 274, 337, 338

globalisation and development 174, 175, 176

Globalization, Growth and Poverty275–6

poverty rates 277

and the Washington Consensus 137–8

World Economic Forum (WEF) 271

Worsthorne, P. 88

Wren-Lewis, S. 204–5, 209

Wu, R. 174

Yamey, B. 76

Young Americans for Freedom 73

Younge, G. 346, 347, 350

Zakaria, F. 221

Zamir, E. 324

Zhao, S. 356