bob daktari said:
one word - Neoliberalism
Sociology Department Seminar
Is Neoliberalism a Terminal Phase or Did Polanyi Get it Wrong?
Jane Kelsey
Wednesday 17th August 2011, 12 noon, HSB 901
This paper asks three inter-related questions: Does the latest financial crisis signal a terminal phase of neoliberalism and the emergence of a post-neoliberal era? Why has it been possible to use the crisis as an opportunity to re-secure and advance the neoliberal paradigm, irrespective of the social and political damage? Is neoliberalism so effectively embedded that it can contain its intrinsic contradictions in the medium term?
Polanyi's theory of double movements would suggest the post-2007 crisis should herald the beginning of the end for neoliberalism. Initially, some of its former champions did recant their beliefs and governments pursued policies that broke with the orthodoxy. More recently, the agenda of less state, more market has been revived with a vengeance through fiscal austerity, privatisation, job losses, cuts to services and safety nets, and restoration of corporate power, especially in the financial sphere.
Does this suggest that Polanyi is wrong and neoliberalism is so effectively embedded that it can survive these contradictions for the medium term?
The paper is part of a broader Marsden research project on embedded neoliberalism in a post-neoliberal era, which focuses on New Zealand's neoliberal experiment and a selection of other countries that adopted an equally radical path.
The project argues that neoliberalism in New Zealand has been embedded through normative and coercive disciplines in domestic legislation, economic integration treaties and international institutions. These disciplines are increasingly brittle as self-regulating markets repeatedly fail, the rort of financialisation is exposed, and new crises of climate, energy, food and livelihoods expose the shallowness of market-driven orthodoxy. Despite this, the neoliberal paradigm has been remarkably resilient.
Bio
Jane Kelsey is one of New Zealand's best-known critical legal scholars.
She has taught at the University of Auckland since 1979, specializing in law and policy and international economic regulation, in particular trade in services. Her book The New Zealand Experiment. A World Model for Structural Adjustment, first published in 1996, remains a principal source on the radical transformation that took place in New Zealand post-1984. In 2009 Jane was awarded a Marsden Grant to review the neoliberal project 25 years on, under the title embedded neoliberalism in a post-neoliberal era. Jane travels extensively, talking on globalisation, free trade agreements and lessons for other countries from New Zealand's neoliberal experiment to a wide range of audiences.