Neoliberalism is variegated, as different types of neoliberalism coexist in a world market that is organized in the shadow of a neoliberalization process that began with neoliberal regime shifts in the United States and United Kingdom. This essay provides a periodization of neoliberal regime shifts within this context, starting with their prehistory up to the point of no return and then tracing their rollback, roll forward, blowback, “Third Way,” moments of financial crisis, and crisis of crisis-management phases. It argues that neoliberal regime shifts were associated from their prehistory onward with intertwined authoritarian populist and authoritarian statist discourses and practices. Nonetheless, the intensification and interaction of crisis-tendencies of different kinds in different phases and changing forms of resistance have led to an increasingly authoritarian statist form of neoliberal regime, characterized by a state of permanent austerity that requires increased surveillance and policing to maintain it. This illustrates Nicos Poulantzas’s suggestion in the 1970s that authoritarian statism is becoming the normal form of the capitalist type of state but rests on the intensification of features normally associated with exceptional regimes. This essay updates Poulantzas’s argument to an era of finance-dominated accumulation and provides a new characterization of authoritarian neoliberal statism.

The text of this article is only available as a PDF.

References

Albo, Greg; Fanelli, Carlo.
2014
. “
Austerity against Democracy: An Authoritarian Phase of Neoliberalism?
SocialistProject
.
Canada
. .
Black, William K.
2014
. “
Posing as Hyper-Rationality: OMB’s Assault on Effective Regulation
.”
New Economic Perspectives
,
27
May
.
Boukalas, Christos.
2014
.
Homeland Security, Its Law and Its State: A Design of Power for the Twenty-First Century
.
London
:
Routledge
.
Bruff, Ian.
2014
. “
The Rise of Authoritarian Neoliberalism
.”
Rethinking Marxism
26
, no.
1
:
113
29
.
Crouch, Colin.
2004
.
Post-Democracy
.
Cambridge
:
Polity Press
.
Demirović, Alex; Sablowski, Thomas.
2013
.
The Finance-Dominated Regime of Accumulation and the Crisis in Europe
.
Berlin
:
Rosa Luxemburg Stiftung
.
Duménil, Gérard; Lévy, Dominique.
2011
.
The Crisis of Neoliberalism
.
Cambridge, MA
:
Harvard University Press
.
Elsner, Wolfram.
2012
. “
Financial Capitalism—At Odds with Democracy: The Trap of an ‘Impossible’ Profit Rate
.”
Real-World Economics Review
, no.
62
:
132
59
.
Fine, Ben.
2010
. “
Locating Financialization
.”
Historical Materialism
18
:
97
116
.
Gill, Stephen.
1995
. “
The Global Panopticon? The Neo-liberal State, Economic Life, and Democratic Surveillance
.”
Alternatives
20
, no.
1
:
1
49
.
Gramsci, Antonio.
1971
.
Selections from the Prison Notebooks
.
London
:
Lawrence and Wishart
.
Hall, Stuart et al.
1978
.
Policing the Crisis: Mugging, the State, and Law and Order
.
London
:
Macmillan
.
Hudson, Michael.
2012
.
The Bubble and Beyond: Fictitious Capital, Debt Deflation, and the Global Crisis
.
Dresden, DE
:
ISLET
.
Hudson, Michael.
2015
.
Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy
.
Dresden, DE
:
ISLET
.
Jessop, Bob.
2002
.
The Future of the Capitalist State
.
Cambridge
:
Polity
.
Jessop, Bob.
2014
. “
Capitalist Diversity and Variety: Variegation, the World Market, Compossibility, and Ecological Dominance
.”
Capital and Class
38
, no.
2
:
43
56
.
Jessop, Bob.
2015
. “
Neo-liberalism, Finance-Dominated Accumulation, and the Cultural Political Economy of Austerity
.” In
Social Policy in Times of Austerity: Global Economic Crisis and the New Politics of Welfare
, edited by Featherstone, Kevin; Irving, Zoe M.,
87
112
.
Bristol
:
Policy Press
.
Jessop, Bob.
2016
. “
The Heartlands of Neoliberalism and the Rise of the Austerity State
.” In
The Handbook of Neoliberalism
, edited by Springer, Simon; Birch, Kean; MacLeavy, Julie,
410
21
.
London
:
Routledge
.
Jessop, Bob.
2017
. “
Variegated Neoliberalism, Finance-Dominated Accumulation, and Citizenship Rights
.” In
The Transformation of Citizenship
, vol.
1
, edited by Mackert, Jürgen; Turner, Bryan S.,
13
30
.
London
:
Routledge
.
Jessop, Bob et al.
1988
.
Thatcherism: A Tale of Two Nations
.
Cambridge
:
Polity
.
Krippner, Greta R.
2005
. “
The Financialization of the American Economy
.”
Socio-Economic Review
3
, no.
2
:
173
208
.
Lapavitsas, Costas.
2013
.
Profiting without Producing: How Finance Exploits Us All
.
London
:
Verso
.
Oberndorfer, Lukas.
2015
. “
From New Constitutionalism to Authoritarian Constitutionalism
.” In
Asymmetric Crisis in Europe and Possible Futures
, edited by Jäger, Johannes; Springler, Elisabeth,
184
205
.
London
:
Routledge
.
Peck, Jamie; Theodore, Nik.
2012
. “
Reanimating Neoliberalism: Process Geographies of Neoliberalization
.”
Social Anthropology
20
, no.
2
:
177
85
.
Poulantzas, Nicos.
1978
.
State, Power, Socialism
.
London
:
NLB
.
Rasmus, Jack.
2010
.
Epic Recession: Prelude to Global Depression
.
London
:
Pluto
.
Seymour, Richard.
2014
.
Against Austerity: How We Can Fix the Crisis They Made
.
London
:
Pluto
.
Smith, Yves.
2010
.
Econned: How Unenlightened Self-Interest Undermined Democracy and Corrupted Capitalism
.
Basingstoke, UK
:
Palgrave Macmillan
.
Solty, Ingar.
2013
. “
Is the Global Crisis Ending the Marriage between Capitalism and Liberal Democracy?
” In
Political Power Reconsidered: State Power and Civic Activism between Legitimacy and Violence
, edited by Lakitsch, Maximilian,
161
204
.
Berlin
:
LIT Verlag
.
Stockman, David.
2013
.
The Great Deformation: The Corruption of Capitalism in America
.
New York
:
PublicAffairs
.
Streeck, Wolfgang.
2014
.
Borrowed Time
.
London
:
Verso
.
Stützle, Ingo.
2013
.
Austerität als politisches Projekt. Von der monetären Integration Europas zur Eurokrise (Austerity as a Political Project: From the Monetary Integration of Europe to the Euro Crisis)
.
Münster, DE
:
Westfälisches Dampfboot
.
Swedberg, Richard.
1998
.
Max Weber and the Ideas of Economic Sociology
.
Princeton, NJ
:
Princeton University Press
.
Taylor-Gooby, Peter.
2013
.
The Double Crisis of the Welfare State and What We Can Do about It
. Basingstoke, UK: Palgrave
Macmillan
.
Weber, Max.
1968
.
Economy and Society
.
New York
:
Bedminster
.
Will, Susan; Handelman, Stephen; Brotherton, David, eds.
2013
.
How They Got Away with It: White Collar Criminals and the Financial Meltdown
.
New York
:
Columbia University Press
.