Is neoliberalism finished? Neoliberalism was a political and intellectual project whose origins lay in the 1930s and 1940s, originally championed by a group of economists and philosophers, including Friedrich Hayek, Milton Friedman and Ludwig von Mises. It aimed to revise and revitalise (hence the prefix ‘neo-’) classical liberal ideas about how the economy and society should be structured.
Few economists self-identify as neoliberals today. Indeed, the term ‘neoliberalism’ is highly contested and is more often used as a pejorative. Nevertheless, the cultural theorist Stuart Hall reasonably suggested there may be “enough common features to warrant giving it a provisional conceptual identity”. In fact, we ran a debate on neoliberalism back in 2015, and asked two academic experts (Mark Pennington and Thomas Biebricher) to give us a definition.
To get a sense whether the financial crisis and pandemic have fatally undermined neoliberalism (we recorded these interviews before Russia’s war in Ukraine) we spoke to:
💬 Yanis Varoufakis, Former Greek Finance Minister & Founder, DiEM25
💬 Katherine Trebeck, Co-Founder, Wellbeing Economy Alliance
💬 Martin Wolf, Associate Editor & Chief Economics Commentator, Financial Times
What comes after neoliberalism? Can Kate Raworth’s “doughnut model” help set social and environmental limits for capitalism? Should Europe introduce a Universal Basic Income? Can Europe learn from Nordic social democracy and Mondragon co-operatives? Let us know your thoughts and comments in the form below and we’ll take them to policymakers and experts for their reactions!