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Journal ArticleDOI

Quo vadis neoliberalism? The remaking of global capitalist governance after the Washington Consensus

01 Mar 2010-Geoforum (Pergamon)-Vol. 41, Iss: 2, pp 185-194

AbstractThe Washington Consensus, through which neoliberal global capitalist governance gained hegemony over the third world, entered a crisis in the late 1990s. Triggered by the 1997 Asian financial crisis, and by contestations of neoliberal governance from global civil society, two remakings of global capitalist governance can be identified: A ‘post-Washington consensus’ whose relation to neoliberalism is complex; and a ‘new development economics’ that advocates Keynesian principles. Irrespective of the trajectory of this emergent phase of re-regulation, particularly after the 2008 global finance crisis, these remakings can be conceptualized as supplements reinforcing an imaginary of capitalism as the solution to, rather than progenitor of, uneven development. Through discourses of capitalist development as a sequential trajectory to be followed by all countries, as flattening the world to enable catch-up by backward countries, and as incorporating socio-spatial difference via its commodification, this socio-spatial imaginary functions to legitimate expertise located in the first world, and global capitalist governance, irrespective of serial policy failures.

Topics: Global governance (63%), Washington Consensus (55%), First World (53%), Corporate governance (53%), Capitalism (53%)

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Abstract: This paper provides a theoretical and political critique of how the concept of resilience has been applied to places. It is based upon three main points. First, the ecological concept of resilience...

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Cites background from "Quo vadis neoliberalism? The remaki..."

  • ...This provides a crucial supplement to neoliberal discourses (see Joseph, 2002), serving to fill an underlying void created by the privileging of market rationalities over social needs (Derrida, 1976; Sheppard and Leitner, 2010)....

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Journal ArticleDOI
Abstract: The academic literature on urban policy and planning which explicitly links to neo-liberalism is huge. The paper systematises much of this literature from the period 1990 to 2010, with an emphasis on journals of urban planning, urban geography, and urban studies. Neo-liberal urban policies are engendered by the nexus between mobile investment capital, inter-city competition, and public entrepreneurialism. Fourteen planning-related policies are described, and their neo-liberal rationales are explained. Typical planning concerns are outlined for each policy. The paper ends by spelling out the challenges that the neo-liberal urban policies pose to public planning.

342 citations



References
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Abstract: But the fount and matrix of the system was the self-regulating market. It was this innovation which gave rise to a specific civilization. The gold standard was merely an attempt to extend the domestic market system to the international field; the balance of power system was a superstructure erected upon and, partly, worked through the gold standard; the liberal state was itself a creation of the self-regulating market. The key to the institutional system of the 19 century lay in the laws governing market economy. (p. 3).

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"Quo vadis neoliberalism? The remaki..." refers background in this paper

  • ...…within nationstates of North Atlantic capitalism, dating back to the 18th century, between those propagating free markets and those seeking to protect society through ‘‘powerful institutions designed to check the action of the market relative to labor, land and money” (Polanyi, 2001 [1944], p. 79)....

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Journal ArticleDOI

7,680 citations


"Quo vadis neoliberalism? The remaki..." refers background in this paper

  • ...Given the attention devoted to analyzing globalization since 1980 as approximating Hayekian neoliberalism (e.g., Brenner, 2004; Brenner and Theodore, 2002; Harvey, 2006), it is important to interrogate whether the post-Washington consensus represents a significant departure from this model, at least for the third world, or simply a variation on it....

    [...]

  • ...While acknowledging that neoliberalism travelled to the US and the UK via Chile, the bulk of scholarship has focused on what happened thereafter (cf. Harvey, 2006; Peck and Tickell, 2002)....

    [...]

  • ...…attention devoted to analyzing globalization since 1980 as approximating Hayekian neoliberalism (e.g., Brenner, 2004; Brenner and Theodore, 2002; Harvey, 2006), it is important to interrogate whether the post-Washington consensus represents a significant departure from this model, at least for…...

    [...]