Madra, Y.M., Adaman, F.
Neoliberal Reason and Its Forms: De-Politicisation Through Economisation (2013) Antipode, Article in Press.
This paper offers a historically contextualised intellectual history of the entangled development of three competing post-war economic approaches, viz the Austrian, Chicago and post-Walrasian schools, as three forms of neoliberalism. Taking our cue from Foucault’s reading of neoliberalism as a mode of governmentality under which the social is organised through “economic incentives”, we engage with the recent discussions of neoliberal theory on three accounts: neoliberalism is read as an epistemic horizon including not only “pro-” but also “post-market” positions articulated by post-Walrasian economists who claim that market failures necessitate the design of “incentive-compatible” remedial mechanisms; the Austrian tradition is distinguished from the Chicago-style pro-marketism; and the implications of the differences among the three approaches on economic as well as socio-political life are discussed. The paper maintains that all three approaches promote the de-politicisation of the social through its economisation albeit by way of different theories and policies.
Austrian School, Chicago School, post-Walrasian School; Economisation; Michel Foucault