Neoliberal Resilience: Lessons in Democracy and Development from Latin America and Eastern Europe

Aldo Madariaga

Published by Princeton University Press 2020

Neoliberal Resilience

Lessons in Democracy and Development from Latin America and Eastern Europe

Aldo Madariaga

https://doi.org/10.1515/9780691201603

Overview
Contents

About this book

An exploration of the factors behind neoliberalism’s resilience in developing economies and what this could mean for democracy’s future

Since the 1980s, neoliberalism has withstood repeated economic shocks and financial crises to become the hegemonic economic policy worldwide. Why has neoliberalism remained so resilient? What is the relationship between this resiliency and the backsliding of Western democracy? Can democracy survive an increasingly authoritarian neoliberal capitalism? Neoliberal Resilience answers these questions by bringing the developing world’s recent history to the forefront of our thinking about democratic capitalism’s future.

Looking at four decades of change in four countries once considered to be leading examples of effective neoliberal policy in Latin America and Eastern Europe—Argentina, Chile, Estonia, and Poland—Aldo Madariaga examines the domestic actors and institutions responsible for defending neoliberalism. Delving into neoliberalism’s political power, Madariaga demonstrates that it is strongest in countries where traditional democratic principles have been slowly and purposefully weakened. He identifies three mechanisms through which coalitions of political, institutional, and financial forces have propagated neoliberalism’s success: the privatization of state companies to create a supporting business class, the use of political institutions to block the representation of alternatives in congress, and the constitutionalization of key economic policies to shield them from partisan influence. Madariaga reflects on today’s most pressing issues, including the influence of increasing austerity measures and the rise of populism.

A comparative exploration of political economics at the peripheries of global capitalism, Neoliberal Resilience investigates the tensions between neoliberalism’s longevity and democracy’s gradual decline.

Author / Editor information

Aldo Madariaga is an assistant professor at the Center for Economics and Social Policy (CEAS), Universidad Mayor in Santiago, Chile, where he is also an adjunct researcher at the Center for Social Conflict and Cohesion Studies (COES).

Reviews

"Neoliberal Resilience is a very important addition to the lively debate on the political economy of neoliberalism. Drawing on careful empirical research and a highly sophisticated methodological approach, Madariaga develops a convincing case about the inherent tensions between capitalism and democracy in a globalized and increasingly crisis-ridden world. This book deserves to be read widely."—Jerome Roos, London School of Economics and Political Science

"A significant contribution to the field of comparative political economy, Neoliberal Resilience tackles the crucial question of the strength of neoliberal economic regimes despite hard times. Madariaga persuasively and innovatively shows that ideas and institutions cannot completely account for such outcomes and that social actors and politics are key. This is a fascinating read."—Eduardo Silva, author of Neoliberalism in Latin America

Topics

Frontmatter Publicly Available Download PDF	i
Contents Publicly Available Download PDF	vii
Preface Publicly Available Download PDF	ix
1. The Puzzling Resilience of Neoliberalism Requires Authentication Unlicensed Licensed Download PDF	1
2. Explaining the Resilience of Neoliberalism Requires Authentication Unlicensed Licensed Download PDF	25
3. Neoliberal Policies and Supporting Actors Requires Authentication Unlicensed Licensed Download PDF	51
4. Neoliberal Resilience and the Crafting of Social Blocs Requires Authentication Unlicensed Licensed Download PDF	82
5. Creating Support: Privatization and Business Power Requires Authentication Unlicensed Licensed Download PDF	135
6. Blocking Opposition: Political Representation and Limited Democracy Requires Authentication Unlicensed Licensed Download PDF	176
7. Locking-in Neoliberalism: Independent Central Banks and Fiscal Spending Rules Requires Authentication Unlicensed Licensed Download PDF	216
8. Lessons: Neoliberal Resilience and the Future of Democracy Requires Authentication Unlicensed Licensed Download PDF	249
List of Interviews Requires Authentication Unlicensed Licensed Download PDF	269
Bibliography Requires Authentication Unlicensed Licensed Download PDF	273
Index Requires Authentication Unlicensed Licensed Download PDF	315