By James D G Wood originally published August 2, 2022 in Cambridge Journal of Regions, Economy and Society
This piece argues neo-liberal actors use the Covid crisis to argue for a return to neo-liberal economic policies. Cogent argument though I would suggest progressives use Covid equally to argue for their policies.Michael Lerner
Economic policymaking shifted away from neoliberal ideals towards ‘crisis’ Keynesianism during the COVID-19 pandemic. We use a comparative process tracing approach to examine how political and economic actors in Britain, Germany and the USA attempt to legitimise a potential return to neoliberalism to voters. We show that pro-neoliberal actors discursively construct a ‘crisis’ of COVID-Keynesianism by associating it with rising inflation and ‘unsustainable’ levels of government spending. Whilst emphasising key neoliberal policies of maintaining low inflation and fiscal conservativism to establish a return to ‘normal’ neoliberal policymaking. Therefore, we explain how the neoliberal policy paradigm reasserts itself when challenged.