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The decline of neoliberalism: a play in three acts

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  • Fernando Rugitsky

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.
    • Handle: RePEc:ekm:repojs:v:40:y:2020:i:4:p:587-603:id:2074
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/2074/2175
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    More about this item

    Keywords

    Economic crisis; neoliberal hegemony; interregnum; pandemic;
    All these keywords.

    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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