This paper uses Michel Foucault’s lectures on biopolitics as a starting point for thinking historically about neoliberalism. Foucault’s lectures offer a rich and detailed account of the emergence of neoliberalism, but this account is far from complete. This paper addresses some of the blind-spots in Foucault’s lectures by focusing on the space between the decline of classical liberalism at the end of the 19th century and the subsequent attempt to develop a ‘positive’ or ‘ordo’ liberalism in post-war Germany. The primary (...) concern of this paper is to chart the emergence of a new or neo- liberalism in the writings of Ludwig von Mises and Friedrich von Hayek through the 1920s and 1930s. These writings, which are barely considered by Foucault, are important as they redefine the liberal project against the political economy of the late 19th century and, in particular, against the threat of socialism. In conclusion, it is argued that by returning to the work of Mises and Hayek it is possible to develop a critical sociology of neoliberalism, one that not only engages with the writings of these two thinkers but which also exposes the fracture lines that exist within the neoliberal project, and reconsiders the political positions that neoliberalism initially sought to reject. (shrink)

This article takes as its starting point the observation that neoliberalism is a concept that is ‘oft-invoked but ill-defined’. It provides a taxonomy of uses of the term neoliberalism to include: (1) an all-purpose denunciatory category; (2) ‘the way things are’; (3) an institutional framework characterizing particular forms of national capitalism, most notably the Anglo-American ones; (4) a dominant ideology of global capitalism; (5) a form of governmentality and hegemony; and (6) a variant within the broad framework of liberalism as (...) both theory and policy discourse. It is argued that this sprawling set of definitions are not mutually compatible, and that uses of the term need to be dramatically narrowed from its current association with anything and everything that a particular author may find objectionable. In particular, it is argued that the uses of the term by Michel Foucault in his 1978–9 lectures, found in The Birth of Biopolitics, are not particularly compatible with its more recent status as a variant of dominant ideology or hegemony theories. It instead proposes understanding neoliberalism in terms of historical institutionalism, with Foucault’s account of historical change complementing Max Weber’s work identifying the distinctive economic sociology of national capitalisms. (shrink)

This article challenges conventional readings of Michel Foucault by examining his fascination with neoliberalism in the late 1970s. Foucault did not critique neoliberalism during this period; rather, he strategically endorsed it. The necessary cause for this approval lies in the broader rehabilitation of economic liberalism in France during the 1970s. The sufficient cause lies in Foucault's own intellectual development: drawing on his long-standing critique of the state as a model for conceptualizing power, Foucault concluded, during the 1970s, that economic liberalism, (...) rather than “discipline,” was modernity's paradigmatic power form. Moreover, this article seeks to clarify the relationship between Foucault's philosophical antihumanism and his assessment of liberalism. Rather than arguing that Foucault's antihumanism precluded a positive appraisal of liberalism, or that the apparent reorientation of his politics in a more liberal direction in the late 1970s entailed a partial retreat from antihumanism, this article contends that Foucault's brief, strategic, and contingent endorsement of liberalism was possible precisely because he saw no incompatibility between antihumanism and liberalism—but only liberalism of the economic variety. Economic liberalism alone, and not its political iteration, was compatible with the philosophical antihumanism that is the hallmark of Foucault's thought. (shrink)