New Books In Critical Theory

The epochal shift toward neoliberalism–– a web of related policies that, broadly speaking, reduced the footprint of government in society and reassigned economic power to private market forces-that began in the United States and Great Britain in the late 1970s fundamentally changed the world. Today, the word neoliberal is often used to condemn a broad swath of policies, from prizing free-market principles over people to advancing privatization programs in developing nations around the world. To be sure, neoliberalism has contributed to a number of alarming trends, not least of which has been a massive growth in income inequality. Yet as the eminent historian Gary Gerstle argues in The Rise and Fall of the Neoliberal Order: America and the World in the Free Market Era (Oxford University Press, 2022), these indictments fail to reckon with the full contours of what neoliberalism was and why its worldview had such a persuasive hold on both the right and the left for three decades. As he shows, the neoliberal orde