The rise and fall of neoliberal rentier capitalism : the political economy of the 20th and 21st centuries /
"This is an account of the political economy of capitalism in the 20th and 21st centuries. Capitalism is an unjust form of economic organisation; it is a culture of exacerbated individualism justified by the glorification of individual competition. Today, after 40 years of neoliberalism, capita...
| Main Author: | |
|---|---|
| Format: | eBook |
| Language: | English |
| Published: |
Oxford :
Oxford University Press,
[2025]
|
| Series: | Critical frontiers of theory, research, and policy in international development studies.
|
| Subjects: | |
| Online Access: | Connect to the full text of this electronic book |
| Summary: | "This is an account of the political economy of capitalism in the 20th and 21st centuries. Capitalism is an unjust form of economic organisation; it is a culture of exacerbated individualism justified by the glorification of individual competition. Today, after 40 years of neoliberalism, capitalism faces again a legitimation crisis. The book discusses capitalism after two revolutions - the Organisational Revolution and the Democratic Revolution. It views capitalism since the New Deal in the US and the post-war as a progressive and developmental era and the Neoliberal Turn as the change from social democracy to radical and regressive global neoliberalism, which was a regressive time for almost forty years."--Publisher. |
|---|---|
| Abstract: | "This book discusses the political economy of 20th- and 21st-century capitalism. It starts from the Second Industrial Revolution, which allowed room for the rise of the managerial class and adoption by the rich countries of universal suffrage around 1900, which defined the time to come as the time of democracy. The book follows the political economy rather than the economics of a new theoretical framework that the author and a group of other academics have been developing since the 2000s, termed New Developmentalism. It suggests that there are two forms of economic coordination of capitalism: economic liberalism, leaving resource allocation to the market, and developmentalism, which involves moderate intervention of the state in the economy and a national perspective. The author uses the word 'developmentalism' because there is no established word to mean the alternative to economic liberalism. The book describes four phases of capitalist development: the mercantilist, the liberal-industrial, the capitalist-managerial, and the neoliberal rentier-financier phases. While the capitalist-managerial phase was progressive, developmental, and social-democratic, the rentier-financier coalition was narrow--a regressive phase dominated by radical neoliberal ideology. For the author, the rise of national right-wing populism doesn't represent a crisis of democracy, which is threatened but strong; the crisis rather reflects the recent collapse of neoliberalism and the rise of a conservative developmentalism. The phase that is now beginning is not a capitalist-managerial but a managerial-capitalist phase because the major partner in the coalition is ceasing to be the capitalist and becoming the managerial class"-- Oxford Academic. |
| Physical Description: | 1 online resource : illustrations. |
| Bibliography: | Includes bibliographical references and index. |
| ISBN: | 9780191999239 0191999237 9780198898153 0198898150 9780198898160 0198898169 |