Final published version
Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
}
TY - JOUR
T1 - Ordoliberalism and Neoliberalization:
T2 - Governing through Order or Disorder
AU - Jessop, B.
N1 - Revised written version of a PowerPoint presentation at University of East London, December 2017
PY - 2019/11/1
Y1 - 2019/11/1
N2 - 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.
AB - 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.
KW - financialization
KW - governance
KW - law
KW - neoliberalism
KW - ordoliberalism
KW - profit-producing capital
KW - societalization
KW - varieties of capitalism
U2 - 10.1177/0896920519834068
DO - 10.1177/0896920519834068
M3 - Journal article
VL - 45
SP - 967
EP - 981
JO - Critical Sociology
JF - Critical Sociology
SN - 0896-9205
IS - 7-8
ER -