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Neoliberalism: The Rise of a Bad Idea

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Neoliberal Urban Policy and the Transformation of the City

Abstract

For almost 30 years, governments internationally have become increasingly seduced by an agenda which has sought to place ‘the market’ at the heart of economic life. It is well summarised by Brenner and Theodore (2002, p. 350) when they state that ‘the linchpin of neoliberal ideology is the belief that open, competitive, and unregulated markets, liberated from all forms of state interference, represent the optimal mechanism for economic development Neoliberalism comprises a range of ideas and a theory of economic practices which propose that human well-being is best advanced by liberating individual entrepreneurial freedoms and skills within an institutional framework characterised by strong private-property rights, free markets and free trade. It is a somewhat unfortunate term because the word ‘liberal’ is often used in common parlance to describe actions which are socially progressive. Here, however, the term ‘liberal’ describes the liberalisation of the conditions under which capital is able to operate and profit seeking facilitated. When applied to policy, it has commonly proved to possess highly negative consequences for labour.

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Authors
  1. Andrew MacLaran
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  2. Sinéad Kelly
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Editor information

Editors and Affiliations

  1. Trinity College Dublin, Ireland

    Andrew MacLaran (Associate Professor) (Associate Professor)

  2. National University of Ireland Maynooth, Ireland

    Sinéad Kelly (Lecturer) (Lecturer)

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© 2014 Andrew MacLaran and Sinéad Kelly

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MacLaran, A., Kelly, S. (2014). Neoliberalism: The Rise of a Bad Idea. In: MacLaran, A., Kelly, S. (eds) Neoliberal Urban Policy and the Transformation of the City. Palgrave Macmillan, London. https://doi.org/10.1057/9781137377050_1

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