The Legitimation Crisis of Neoliberalism

This book proposes a theory of the legitimation crisis of neoliberalism. Through analyses of the legitimation crisis of regulated capitalism and the characteristics and theories of neoliberalism, the author contends that neoliberalism is affected by crises of system and social integration. The crisis of system integration refers to the inability of market mechanisms to address problems of capital accumulation and social stability. The crisis of social integration refers to the unmet promises of economic growth and social well-being. While attempts to address these crises are carried out through state intervention, crisis resolutions are inadequate due to the limits of the free market system and current state forms. Alessandro Bonanno contends that, as ideological and material forms of legitimation are inadequate, and processes of capital accumulation are sluggish and resistance weak, change is necessary. He outlines how this change will be controlled by corporate actors, minimally address the demands of subordinate groups, and marginally alter existing conditions.

This book proposes a theory of the legitimation crisis of neoliberalism. Through analyses of the legitimation crisis of regulated capitalism and the characteristics and theories of neoliberalism, the author contends that neoliberalism is affected by crises of system and social integration. The crisis of system integration refers to the inability of market mechanisms to address problems of capital accumulation and social stability. The crisis of social integration refers to the unmet promises of economic growth and social well-being. While attempts to address these crises are carried out through state intervention, crisis resolutions are inadequate due to the limits of the free market system and current state forms. Alessandro Bonanno contends that, as ideological and material forms of legitimation are inadequate, and processes of capital accumulation are sluggish and resistance weak, change is necessary. He outlines how this change will be controlled by corporate actors, minimally address the demands of subordinate groups, and marginally alter existing conditions.

1. The State in Classical Laissez-Faire, its Crisis and the Establishment of Fordism.- 2. The Legitimation Crisis of Fordism: Ideological and Cultural Contradictions.- 3. Legitimation and Resistance: The Structural Contradictions of Regulated Capitalism.- 4. Neoliberalism: Its Roots, Development and Legitimation.- 5. The Ideas of the Chicago School and the Structural Contradictions of Neoliberalism.- 6. A Theory of the Neoliberal Global State.- 7. The Conditions and Contradictions of Legitimation and Will-Formation under Global Neoliberalism.- 8. The Corporatization of Activism: Resistance under Neoliberal Globalization.- 9. Conclusions: The Legitimation Crisis and the Future of Neoliberalism.