Ruling Ideas: How Global Neoliberalism Goes Local

Neoliberal economic theories are powerful because their domestic translators make them go local, hybridizing global scripts with local ideas. This does not mean that all local translations shape policy, however. External constraints and translators' access to cohesive policy institutions filter what kind of neoliberal hybrids become policy reality. By comparing the moderate neoliberalism that prevails in Spain with the more radical one that shapes policy thinking in Romania, Ruling Ideas explains why neoliberal hybrids take the forms that they do and how they survive crises. Cornel Ban contributes to the literature by showing that these different varieties of neoliberalism depend on what competing ideas are available locally, on the networks of actors who serve as the local advocates of neoliberalism, and on their vulnerability to external coercion.Ruling Ideas covers an extended historical period, starting with the Franco period in Spain and the Ceausescu period in Romania, discusses the economic integration of these countries into the EU, and continues through Europe's Great Recession and the European debt crisis. The broad historical coverage enables a careful analysis of how neoliberalism rules in times of stability and crisis and under different political systems.

Table of Contents:
TABLE OF CONTENTS Abstract List of graphs List of author interviews PART I: VARIETIES OF NEOLIBERALISM 1. The Ruling Power of Neoliberal Ideas What do we talk about when we talk about neoliberalism? Historically contingence intellectually hybridity Real-existing local neoliberalism: Embeddeded or disembedded? The political economy of neoliberalism in translation From diffusion to translation: the state of the art Tools from the Past Transnational socialization and resources Institutional cohesion Weapons of coercion Case selection Data and Methodology Organization of the book 2. Spain's embedded neoliberalism Introduction The Socialist Road to Embedded Neoliberalism (1982-1996) Gaps in Existing Explanations The Revolving Doors Translating Neoliberalism in Madrid Crafting Institutional Cohesion Containing Labor: Seduce and Abandon Embedded neoliberalism and European Monetary Integration "That load of irrationality": Joining the European Monetary System Moving Embedded Neoliberalism to the Right (1996-2004) Moving Embedded Neoliberalism to the Left (2004-2008) The Euro road to Lehman Conclusions 3. Romania's disembedded neoliberalism Late, but radical Late, but radical The limits of conventional explanations Neoliberalism and the postcommunist transition The neo-developmentalist interregnum Liberal neo-developmentalism (1990-1992) Populist neo-developmentalism (1992-1996) Crafting disembedded neoliberalism The translators of neoliberalism Beyond the Washington Consensus Neoliberal transition economics in power Dodging embedded neoliberalism Translating the Brussels Consensus The ebb and flow of institutional cohesion Radicalizing disembedded neoliberalism(2004-2008) Conclusions PART II: THE WEIGHT OF THE PAST 4. The Deep Roots of Spanish Neoliberalism Introduction From autarchy to liberalization The rise and fall of Spain's developmentalism Mandarin Economists and the State The seeds of neoliberalism Neoliberalism, German-style Ordoliberalism and the Dilution of Spanish neo-Keynesianism Conclusions 5.The Shallow Roots of Romanian Neoliberalism Introduction A Barren Land for Economic Liberalism Economists and the State under National-Stalinism Détente and Professional Transnationalization The Limits of Repression and Resistance From National-Stalinism to neo-Developmentalism Conclusions PART III: NEOLIBERALISM ACROSS BORDERS 6. Spain: Intensive Transnational Socialization The Anglo-German Origins of Spanish Neoliberalism Geopolitics and Anglo Pedigree International Organizations and Diffusion Domestic Debates and International Classics Moderating neoliberalism with German ideas German Interests and Southern Socialism Ordnungspolitik with Vitalpolitik Conclusions 7. Romania: Recurrent Coercion and Fast-Track Socialization Ruling by Force and by Force of Thought Neoliberalism by force Trimming neo-Developmentalism (1990-1996) Locking-in neoliberalism (1996-2006) Neoliberalism by force of thought The power of international status hierarchies The Chicago Boys did not go to Bucharest Chicago on a budget From civil society to capital Democratization, civil society and the localization of neoliberal thinking "Russian doll" neoliberalism The Austrian School's revolving doors Conclusions PART IV: NEOLIBERALISM'S RESILIENCE SINCE THE GREAT RECESSION 8. Recalibrating Embedded Neoliberalism in Spain Introduction Gaps in conventional explanations The Recalibration of Neoliberalism The institutions and ideas of Spain's recalibrated neoliberalism The resilience of institutional centralization A moderate Keynesian revival Defeating the orthodox resistance The Retrenchment of European Embedded Neoliberalism Austere times in Brussels Austere times in Frankfurt Structural reforms for the end of fiscal policy How to kill a Stimulus: Coercion and Collateral Damage Caja blues Paying for the financializing the state The end of Spain's Keynesian revival The Retrenchment of Spain's Embedded Neoliberalism (2010-2011) Lines in the sand Governing by correspondence The End of Embedded Neoliberalism (2011-)? "Prussia of the South" Whither Embedded Neoliberalism? Conclusions 9. The Resilience of Disembedded Neoliberalism in Romania Radicalizing neoliberalism Resilience through international coercion The power of coercion The limits of coercion Resilience through competition The power of multinational capital The limits of multinational capital Radicals for neoliberalism Manning the Ramparts Monetary Policy as Pulp Orthodoxy Fiscal Amputation Ordnungspolitik without Vitalpolitik De-Europeanizing redistribution Moderating neoliberalism? The limits of radicalization From anti-austerity to "high quality fiscal consolidation" Whither Disembedded Neoliberalism? Conclusions 10. Conclusions Localization and resilience Neoliberalism in translation Embedded Neoliberalism Disembedded neoliberalism The Weight of the Past Translation and Transnational Socialization Neoliberalism in Power Institutional Cohesion The Power of Coercion Bibliography

About the Author :
Assistant Professor of Political Science, Boston University

Review :
"This book delivers a careful analysis of the national forces that determine what type of neoliberalism a country develops, looking at domestic, international, historical, and intellectual explanatory factors. The author offers a sophisticated advancement in understanding the political and economic forces that affect the world and how neoliberalism as a structure varies across nation-states. Excellent for collections on globalization, economics, and political movements and ideologies." --CHOICE