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The decline of neoliberalism: a play in three acts

Author

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  • Fernando Rugitsky

    (Professor at the Economics Department of Faculdade de Economia e Administração da Universidade de São Paulo – FEA/USP, São Paulo/SP, Brasil.)

Abstract

This paper aims to examine the political and economic consequences of the pandemic caused by the new coronavirus, setting it in the context of a Gramscian interregnum. First, the dismantling of the triangular articulation of the world market that characterized the decade before 2008 is examined. Second, the global protest wave and the electoral shifts observed since 2010 are interpreted as evidence of a crisis of neoliberal hegemony. Together, the economic and hegemonic crises represent the interregnum. Last, it is argued that the fight against the pandemic may lead to the overcoming of neoliberalism. JEL Classification: B51; E02; O57.

Suggested Citation

  • Fernando Rugitsky, 2020. "The decline of neoliberalism: a play in three acts," Brazilian Journal of Political Economy, Center of Political Economy, vol. 40(4), pages 587-603, October.
    • Handle: RePEc:ekm:repojs:v:40:y:2020:i:4:id:95071
    DOI: 10.1590/0101-31572020-3202
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    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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