Neoliberalism is in crisis. Some of the
elements of this are fairly obvious: the financial crisis of recent years and
elites’ inability to chart an effective strategy for long-term profitability;
the decline of US geopolitical hegemony, most visibly in its one-time backyard
of Latin America and the strategically central Middle East and North African
region; a legitimacy crisis around surveillance and military intervention more
broadly; severe problems with making the WTO, FTAA and other such arrangements actually
produce the intended results; the EU’s increasing inability to secure mandates
for austerity in referenda or elections; not to mention the medium-term threats
to fixed assets (and supporters) caused by climate change.