Review of Quinn Slobodian (2018), Globalists: The End of Empire and the Birth of Neoliberalism, Cambridge: Harvard University Press.
Appeared in Development and Change 50 (3), 2019, 1-12.
Neoliberalism, we learn from this truly eye-opening book, is not new at all; it is, in fact, almost a century old. Why ‘neo’, then? Because it was conceived and intended to promote the return of the stateless liberal Weltwirtschaft (the globally integrated world economy of the gold standard) which even Karl Polanyi sometimes celebrated with a note of nostalgia. Conceived it was by an identifiable, and now precisely identified, group of people who carried it and the project it stood for to its, however preliminary, victory in our time. The end of liberalism and the rise of neoliberalism began in 1918 with the fall of the empires of free trade and their replacement with a host of sovereign and potentially democratic nation states, carriers of a dangerous virus called ‘economic nationalism’. After 1945 followed decolonization and the introduction of majority voting in the General Assembly of the United Nations — anti-liberal political architectures that, together with the Keynesian gospel of national self-sufficiency, threatened not just economic progress but also, this was the claim, the open society, human freedom and dignity. Therefore, neo. (…)