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Ordoliberalism and Neoliberalization: Governing through Order or Disorder

Research output: Contribution to journalJournal article

Published
<mark>Journal publication date</mark>1/11/2019
<mark>Journal</mark>Critical Sociology
Issue number7-8
Volume45
Number of pages15
Pages (from-to)967-981
Publication statusPublished
Early online date28/03/19
Original languageEnglish

Abstract

Although both promote a free market and strong state, ordoliberalism is usefully contrasted with neoliberalization. Ordoliberals aim to achieve this goal by creating a juridico-political institutional fix that provides a stable framework for accumulation. Promoters of neoliberal regime shifts pursue it through strategies of destabilization that exploit resulting crises. Ordoliberalism governs through order, neoliberalization through disorder. Further, ordoliberalism corresponds more to an accumulation regime and mode of regulation-cum-governance based on a productivist concept of capital, reflecting the dominance of profit-producing capital in coordinated market economies. But it also has limited conditions of possibility and is relatively rare. In contrast, neoliberalization corresponds more to what Weber described as politically oriented capitalism, especially a finance-dominated accumulation regime, which is aligned with interest-bearing capital. It occurs in many more varieties of capitalism.

Bibliographic note

Revised written version of a PowerPoint presentation at University of East London, December 2017