Neoliberalism as Spectacle: Economic Theory,Development and Corporate Exploitation

Abstract

Neoclassical economics has been thought to be in some way separated from actually existing capitalism. This is true, as well, for neoliberalism, the current policy framework based on neoclassical economics. Some perspectives argue that neoliberalism is a global colonizer implanted in, and taking over, actually existing capitalism through institutions or imaginations. I argue instead that neoliberalism is spectacle (“the birth-to-presence of a form of being that pre-exists”) requiring continual expert intervention to bring to fruition. I first lay out some recent notions of neoliberalism as colonizer through institutions and imaginations. I argue that these approaches break down as the focus moves away from academic departments and research and high-level policy departments of international financial institutions (IFIs), to the practice of development, especially corporate exploitation. “Neoliberalism as spectacle” more effectively accounts for corporate strategies that are often at cross purposes with neoliberal representations, for example privileging instability and barely controlled violence as strategy. Second, neoliberalism as spectacle brings appropriate focus onto what Latour terms the “small networks” masked by “big explanations.” Third, neoliberalism as spectacle re-focuses attention on the backstage maneuvers that accompany neoliberal onstage representations. If neoliberalism is a spectacle, then transformation must concentrate not only on challenging neoliberal policies and rationales, but also the myriad other ways, distinct from neoliberalism, that exploitation is accomplished (perceptions, coercive and non-coercive compulsion, legal/lobbying, strategic organizational changes, etc.).