New Constitutionalism

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A catalogue record for this publication is available from the British Library
Library of Congress Cataloguing in Publication data
N ew c o n s titu tio n a lis m and w o rld o rd e r / e d ite d b y S te p h e n G ill a n d
A. C la ire C u tle r.
pages e rn
In c lu d e s b ib lio g ra p h ic a l re fe re n c e s and in d e x .
IS B N 9 7 8 -1 -1 0 7 -0 5 3 6 9 -4 (h a rd b a c k )
1 . N e o lib e ra lis m . 2. In te rn a tio n a l o rg a n iz a tio n . 3. G lo b a liz a tio n -
E c o n o m ic a s p e c ts . 4. G lo b a liz a tio n - P o litic a l a s p e c ts . 5. In te rn a tio n a l
re la tio n s . 6 . W o rld p o litic s - 21st c e n tu ry . I. G ill, S te p h e n .
II. C u tle r, A. C la ire .
J Z 1 3 1 8 .N 4 8 3 2 0 1 4
3 4 2 '.0 0 I - < l c 2 3
2013032796

IS B N 9 7 8 -1 -1 0 7 -0 5 3 6 9 -4 H a rd b a c k

C a m b rid g e U n iv e rs ity P re ss h a s n o re s p o n s ib ility fo r th e p e rs is te n c e o r a c c u ra c y of

URLs fo r e x te rn a l o r th ird -p a rty in te rn e t w e b s ite s re fe rre d to in th is p u b lic a tio n ,
and does not g u a ra n te e th a t any c o n te n t on such w e b s ite s is , o r w ill re m a in ,
a c c u ra te o r a p p ro p ria te .
 C o n te n ts

List of figures page x

List of contributors xi
Acknowledgements X lII

List of acronyms xvi

N ew c o n s titu tio n a lis m a n d w o r ld o rd e r:

g e n e r a l in tr o d u c tio n I
STEPHEN G IL L AND A . C L A IR E CUTLER
A im s a n d c o n s id e r a tio n s I
T h e h is to r ic a l c o n te x t f o r n e w c o n s titu tio n a lis m 5
C r itic is m s o f th e n e w c o n s titu tio n a l concept 8
W h a t is 'n e w ' a b o u t th e n e w c o n s titu tio n a lis m ? II
T h e m e s , h y p o th e s e s a n d q u e s tio n s : o v e r v ie w o f th e c o n tr ib u tio n s 14
Hegemony, supremacy and the power of capital 14
Law,legirimacy and legitimation 16
Agency and contestation 17
A n o te o n th e o r g a n iz a tio n o f th is b o o k 19

P a rt I C o n c e p ts 23
2 M a rk e t c iv iliz a tio n , n e w c o n s titu tio n a lis m and
w o rld o rd e r 29
STEPHEN G IL L
T h e c o n s titu tio n o f m a r k e t c iv iliz a tio n : th e o ld a n d th e n e w 29
N e w c o n s titu tio n a lis m a n d th e r u le o f la w 34
T h r e e d im e n s io n s o f n e w c o n s titu tio n a lis m 37
Measures to reconfigure state apparatuses 38
Measures to construct and extend capitalist markets 39
Measures for dealing with dislocations and contradictions 40
C o n c lu s io n : f r o m tr a n s f o r m a tiv e r e s is ta n c e to th e
p o s t-m o d e m P r in c e 42

v
vi C o n te n ts

3 N e w c o n stitu tio n a lism a n d th e c o m m o d ity

fo rm o f g lo b a l c a p ita lism 45
A . C L A IR E CUTLER
In tro d u c tio n 45
C o m m o d ity fetish ism an d th e co m m o d ity fo rm o f law 47
T h e c o m m o d ific a tio n o f n a tu re 50
C o n te stin g n e w c o n stitu tio n a lism 57
4 T h e ru le o fla w a s th e Grundnorm o f th e
n ew co n stitu tio n alism 63
C H R IS T O P H E R MAY
T h e Grundnorm: fro m leg al to p o litical an aly sis 65
N ew co n stitu tio n alism , m ark et civ ilizatio n an d d iscip lin ary
n ee-lib eralism 67
(Re- )p ro d u c in g th e n o rm : m a in ta in in g th e ru le o f la w 70
Professionalieasion 70
Technical assistance 72
N e w c o n stitu tio n a lism a n d th e ru le o f la w 74

P a rt II G e n e a lo g y , o rig in s a n d w o rld o rd e r 77
5 T o w a rd a g e n e a lo g y o f th e n e w c o n stitu tio n a lism :
th e e m p ire o f lib e rty a n d d o m in a tio n 81
T IM D I M U Z IO
T h e n e w c o n stitu tio n a lism 83
C o lo n ial elites an d th e A m erican R ev o lu tio n ary W ar 85
T h e c o n stitu tio n o f lib e rty a n d d o m in a tio n 90
C o n c lu sio n 93
6 T h e o rig in s o f th e n e w c o n stitu tio n a lism :
lesso n s fro m th e 'o ld ' co n stitu tio n alism 95
RAN H IR S C H L
T h e in su ra n c e lo g ic o f c o n stitu tio n a liz a tio n a n d
ju d ic ia l e m p o w e rm e n t 97
B a c k to th e n e w c o n stitu tio n a lism 104

P a rt III M n ltile v e l g o v e rn a n c e and

n e o -lib e ra liz a tio n 109
7 W h e n th e g lo b a l in h a b its th e n a tio n a l: fu zzy in te ra c tio n s liS
S A S K IA SASSEN
T h e g lo b a l c a p ita l m a rk e t: p o w e r a n d n o rm -m a k in g 117
T h e p a rtia l d ise m b e d d in g o f sp e c ia liz e d sta te o p e ra tio n s a n d
n o n -sta te a c to rs 118
T h e sta te : o n e site fo r n o n -sta te a c to rs 120
C o n c lu sio n 123
 C o n te n ts v ii

8 N e w c o n stitu tio n a lism a n d v a rie g a te d

n e o -lib e ra liz a tio n 126
N E IL BRENNER, JA M IE PECK AND N IK THEODORE
T h e g lo b a l a n d th e n a tio n a l in th e n e w c o n stitu tio n a lism 127
G e o g ra p h ie s o f n e o -Iib e ra liz a tio n 129
M o d a litie s o f n e o -Iib e ra liz a d o n 130
P a th w a y s o f n e o -lib e ra liz a tio n 131
T o w a rd a m o v in g m a p o f n e e -lib e ra liz a tio n 133
R e g u la to r y e x p e r im e n ts 133
S y s te m s o f in te r -ju r is d ic tio n a lp o lic y tr a n s fe r 133
T r a n s n a tio n a l r u le -r e g im e s 134
R e stle ss la n d sc a p e s o f n e o -Iib e ra liz a tio n 134
S c e n a rio s o f c o u n te r-n e o -Iib e ra liz a rio n :to w a rd a p ro g re ssiv e n e w
c o n stitu tio n a lism ? 138
C o n c lu sio n s 142

9 N e w c o n stitu tio n a lism a n d m u ltile v e l g o v e rn a n c e 143

ADAM HARM ES
In tro d u c tio n 143
N e w c o n stitu tio n a lism a n d th e n e e -lib e ra l se p a ra tio n o f
th e e c o n o m ic a n d th e p o litic a l 144
N e o -Iib e ra lism a n d 'm a rk e t-p re se rv in g fe d e ra lism ' 147
M a rk e t-p re se rv in g re g io n a lism a n d g lo b a lism 152
S o c ia l fo rc e s a n d m u ltile v e l g o v e rn a n c e 154
C o n c lu sio n : p ro sp e c ts fo r p ro g re ssiv e m u ltile v e lg o v e rn a n c e 156

P a rt IV T ra d e , In v e stm e n t a n d ta x a tio n 159

10 H o w to g o v e rn d iffe re n tly : n e e -lib e ra lism , new

c o n stitu tio n a lism a n d in te rn a tio n a l in v e stm e n t la w 165
D A V ID S C H N E ID E R M A N
N e e -lib e ra lism u n d e r c o n stru c tio n 167
In te rn a tio n a l in v e stm e n t la w u n d e r c o n stru c tio n 171
R o llin g b a c k th e n e w c o n stitu tio n a lism 175

11 T ra d e a g re e m e n ts, th e n e w c o n stitu tio n a lism and

p u b lic se rv ic e s 179
SCOTT S IN C L A IR
T h e G A T S a n d th e N A F T A 180
Im p a c ts o n p u b lic se rv ic e s 182
C o n fin in g p u b lic s e r v ic e s w ith in e x is tin g b o u n d a r ie s 183
In c r e a s in g th e b a r g a in in g p o w e r o f g lo b a l c o r p o r a tio n s 184
A p p ly in g p r o -c o m p e titiv e r e g u la tio n to p r e v io u s ly s o c ia liz e d s e r v ic e s 186
L o c k in g in fu tu r e p r iv a tiz a tio n 188
S h iftin g th e b a la n c e a g a in s t p u b lic s e r v ic e s 189
D y n a m ism o f th e a g re e m e n ts 190
T ra d e n e g o tia tio n s b e tw e e n th e E D a n d C a n a d a 192
C o n c lu sio n 195
v iii C o n te n ts

12 N ew c o n s titu tio n a lis m , in te rn a tio n a l ta x a tio n and c ris is 197

D R IE S LESAGE, M A T T IA S V E R M E IR E N AND

SACHA D IE R C K X

In tro d u c tio n : n e w c o n s titu tio n a lis m a n d ta x a tio n 197

T h e p o litic a l e c o n o m y o f g lo b a l ta x a tio n a fte r th e c ris is 199
The crisis inlof neo-liberalism and taxation 199
Taxing the financial sector 202
Taxing the capital of wealthy citizens 205
Corporate taxation 208
C o n c lu s io n 210

P a rt V S o c ia l re p ro d u c tio n , w e lfa re a n d e c o lo g y 211

13 S o c ia l re p ro d u c tio n , fis c a l s p a c e a n d re m a k in g
th e re a l c o n s titu tio n 219
IS A B E L L A BAKKER

In tro d u c tio n 219

N e w c o n s titu tio n a lis m , s o c ia l re p ro d u c tio n a n d fis c a l s q u e e z e 222
E x p ro p ria tin g th e c o m m o n s a n d e x te n d e d c o m m o d ific a tio n 225
E n la rg in g s p a c e s o f re s is ta n c e 228
Creating fiscal space 228
Remaking the real constitution 231
14 N ew c o n s titu tio n a lis m , d is c ip lin a ry n e o -lib e ra lis m
a n d th e lo c k in g in o f in d e b te d n e s s in A m e ric a 233
A D R IE N N E ROBERTS

In tro d u c tio n 233

D e b t a n d th e re p riv a tiz a tio n o f s o c ia l re p ro d u c tio n 235
T h e n e w c o n s tiru tio n a lis m a n d b a n k ru p tc y p ro te c tio n 240
T h e s ta te , th e la w a n d th e c o e rc iv e re la tio n s o f d e b t 242
C o n c lu s io n 245

15 N ew c o n s titu tio n a lis m , n e o -lib e ra lis m and s o c ia l p o lic y 247

jA N IN E B R O D IE

In tro d u c tio n
247
G lo b a liz a tio n a n d s o c ia l p o lic y
249
Predictions 249
Outcomes
252
An u n s e t t l e d p o l i c y f i e l d 253
N e w 'c o n s t i t u t i o n s ' o f th e s o c ia l
254
E p ilo g u e : s o c ia l p o lic y a n d th e G re a t R e c e s s io n
258

16 N ew c o n s titu tio n a lis m and th e e n v iro n m e n t:

a q u e s t fa r g lo b a l la w
261
H IL A L ELVER

In tro d u c tio n
261
E v o lu tio n o f e n v iro n m e n ta l la w a n d c o n s titu tio n a lis m
262
G lo b a liz a tio n , e n v iro n m e n t a n d in e q u a lity
263
 C o n te n ts ix

E n v iro n m e n ta lism v e rsu s c o rp o ra te g o v e rn a n c e ? 266

U J lu n r a r yc o d e s o f c o n d u c t 266
M a r k e t-b a s e d r e g u la tio n s 267
P u b lic -p r iv a te p a r m e r s h ip s 268
A n e w g lo b a l c h a lle n g e : c lim a te c h a n g e 269
R e sp o n se s to th e e n v iro n m e n ta l c h a lle n g e 273

P a rt V I G lo b a liz a tio n fro m b e lo w a n d p ro s p e c ts fo r

a ju s t n e w c o n s titu tio n a lis m 277

17 C o n stitu tio n a lism a s c ritic a l p ro je c t: th e e p iste m o lo g ic a l

c h a lle n g e to p o litic s 281
G A V IN W . ANDERSON
In tro d u c tio n 281
P o litic a l e c o n o m y a n d c o n stitu tio n a lism 282
H o w n e w is n e w c o n stitu tio n a lism ? 285
S tru g g le s o v e r h e g e m o n y : im a g in in g p o st-im p e ria l n e w
c o n stitu tio n a l fo rm s 289
C o n c lu sio n 293

18 N e w c o n s titu tio n a lis m a n d g e o p o litic s : n o te s

o n le g a lity a n d le g itim a c y a n d p ro s p e c ts fo r a
ju s t n e w c o n s titu tio n a lis m 295
R IC H A R D FALK
P o in ts o f d e p a rtu re 296
D istin g u ish in g le g a lity a n d le g itim a c y 297
In te rn a tio n a l la w a n d th e 'o ld ' c o n stitu tio n a lism 299
M a n a g in g n u c le a r w e a p o n ry a n d n e w c o n stitu tio n a lism 303
In te rn a tio n a l c rim in a l a c c o u n ta b ility 305
T h e p o st-9 /1 1 c o u n te rte rro rist c h a lle n g e 306
Im p e ria l n e w c o n stitu tio n a lism 308
N e o -lib e ra l g lo b a liz a tio n a n d th e n e w c o n stitu tio n a lism 309
A c o n c lu d in g c o m m e n t 312

G lo s s a r y 313
A p p e n d ix 326
K e y q u e stio n s a n d issu e s 326
P re se n t a n d fu tu re p ro sp e c ts 327
B ib lio g r a p h y 328
In d e x
363
 Figures

8.1 H istorical geographies of m odern constitutionalism page 128

8.2 From disarticulated to deep(ening) neo-liberalization:
a stylized outline 135
8.3 C ounter-neo-liberalization: future pathw ays and
scenarios 139
14.1 U ses of hom e equity extraction 2001-8 237
14.2 A verage net w orth of U S households by race,
2005 and 2009 239

x
 Contributors

GAVIN W. ANDERSON, Senior Lecturer, School of Law, University of

Glasgow,Scotland.
ISABELLA BAKKER, Professor of Political Science and Trudeau Fellow,
York University, Toronto, Canada.
NEIL BRENNER, Professor of Urban Theory, Graduate School of Design,
Harvard University, Boston, USA.
JANINE BRODIE, Distingnished University Professor in Political Economy
and Social Governance;Trudeau Fellow, University of Alberta,
Edmonton, Canada.
A. CLAIRE CUTLER, Professor of International Law and International
Relations, Political Science Department, University of Victoria,
Canada.
TIM DI MUZIO,Assistant Professor in International Relations, University
ofWollongong, Australia.
SACHA DIERCKX, Doctoral Researcher, Ghent Institute for International
Studies, Ghent University, Belgium.
HILAL ELVER, Research Professor, Global and International Studies,
University of California, Santa Barbara, USA.
RICHARD FALK, Albert G. Milbank Professor Emeritus of International
Law and Politics, Princeton University;Visiting Distinguished Professor
in Global and International Studies at the University of California,
Santa Barbara, USA.
STEPHENGILL, Distinguished Research Professor of Political Science,
Communication and Culture, York University, Toronto, Canada.

ADAM HARMES. Associate Professor in Political Science, University of

Western Ontario, Canada.

xi
xii List of contributors

RAN H IR SC H L, Canada Research Chair Professor of Political Science

and Law , U niversity of Toronto, Canada ..

D R IES LESA G E, Professor of G lobalization and G lobal G overnance,

Institute for International Studies, G hent U niversity, Belgium .

C H R ISTO PH ER MAY, Professor of Political Econom y, Lancaster

U niversity, U K .

JA M IE I'EC K , Research Professor in U rban and Regional Political

Econom y, D epartm ent of G eography, U niversity of British Colum bia,
Vancouver, Canada.

ADRIENNE ROBERTS,Assistant Professor in International Studies,

University of Manchester, UK.

SA SK IA SA SSEN , Robert S. Lynd Professor of Sociology and Co-Chair

Com m ittee on G lobal Thought, Colum bia U niversity, N ew Y ork,
U SA .
D A V ID SC H N EID ER M A N , Professor of Law and Political Science, Faculty
of Law , U niversity of Toronto, Canada.
SC O TT SIN C LA IR , Senior Research Fellow , Canadian Centre for Policy
Alternatives, Ottawa, Canada.

N IK TH EO D O R E, A ssociate Professor of U rban Policy and Planning,

U niversity of Illinois at Chicago, U SA .
M A TTIA S V ER M EIR EN , Postdoctoral Researcher, G hent Institute for
International Studies, G hent U niversity, Belgium .
8 N e w c o n s titu tio n a lis m a n d v a r ie g a te d
n e o - lib e r a liz a tio n

Neil Brenner, Jamie Peck and Nik Theodore

S p a rk e d b y th e p io n e e r in g in te r v e n tio n s o f S te p h e n G ill ( 1 9 9 5 a , 1998b,

2000, 2 0 0 3 ), th e lite r a tu r e o n th e n e w c o n s titu tio n a lis m h a s p r o v id e d
a n illu m in a tin g b a s is f o r c o n c e p tu a liz in g th e m a r k e t- d is c ip lin a r y r e g u la -
to r y r e o r g a n iz a tio n o f w o r ld c a p ita lis m s in c e th e 1 9 8 0 s . T h is w o r k r e p r e -
sents an important contribution to the ongoing debate on n e o - lib e r a lis m ,
w h ic h has lo n g been a lig h tn in g ro d f o r d is c u s s io n s o f c o n te m p o r a r y
capitalism, its regulatory dynamics, its crisis tendencies and its possible
futures.
S tu d ie s o f n e w c o n s titu tio n a lis m h a v e fo c u se d p r im a r ily o n th e w o r ld -
w id e le g a l a r c h ite c tu r e s of m a r k e t- d is c ip lin a r y r e g u la tio n , and have
tended to emphasize the geopolitical institutionalization of marketizing,
c o m m o d if y in g r u le s s in c e th e 1 9 8 0 s. W h e re a s th e f o r m a tio n o f g lo b a l
r u le - r e g im e s has been in v e s tig a te d in d e ta il b y a n a ly s ts of new c o n s titu -
tionalism, less attention has been devoted to the role o f in te r - ju r is d ic tio n a l
policy transfer networks and processes of regulatory experimentation at
b o th th e n a tio n a l and s u b n a tio n a l s c a le s . B u ild in g upon th e c o n c e p t of
v a r ie g a te d et al. 2 0 1 0 ) , w e a r g u e
n e o - lib e r a liz a tio n (B re n n e r th a t sys-
tematic attention to each of the latter dimensions of regulatory r e s tr u c -
tu r in g c a n s tr e n g th e n th e m e th o d o lo g ic a l a p p a r a tu s f o r s tu d ie s of new
c o n s titu tio n a lis m : it c o u ld p r o v id e th e b a s is f o r a n a ly z in g th e e v o lu tio n
of n e e - lib e r a liz a tio n tendencies, and of formations of new constitution-
alism itself. Through such an approach, moreover, one can product-
ively explore scenarios for counter-neo-liberalizing forms of regulatory
restructuring within contemporary capitalism.
In our conception, neo-liberalization processes are variegated in so far
a s th e y s y s te m ic a lly p ro d u c e g e e - in s titu tio n a l d if f e r e n tia tio n . W e em pha-
s iz e th e s y s te m ic a lly p ro d u c e d uneven d e v e lo p m e n t o f n e o - lib e r a liz in g
projects across territories, scales and places, as well as the evolution of
such projects over time and across space. In our view, a more sustained
engagem ent w ith th e p r o b le m a tic o f v a r ie g a te d r e g u la tio n can advance
our understanding of new constitutionalism, its historical-geographical
vicissitudes, its crisis tendencies and the possibility of its transcendence.

126
 Variegated n e o - l i b e r a l i z a t i o n 127

This chapter is thus a sympathetic critique o f t h e extant literature on new

constitutionalism, articulated from an allied methodological stance that
a im s m o re e x p lic itly to e x p lo re th e uneven g e o g ra p h ic a l d e v e lo p m e n t
of regulatory arrangements, forms and strategies under neo-liberalizing
capitalism.

The g lo b a l and th e n a tio n a l in t h e new c o n s titu tio n a lis m

A c c o rd in g to S te p h e n G ill (2 0 0 0 ), th e n e w c o n s titu tio n a lis m o f th e p o s t-

1980s p e rio d e n ta ils not o n ly a ro llin g back o f p o s t-w a r re s tric tio n s on
c a p ita lis t p ro p e rty rig h ts , but th e ro llin g fo rw a rd of a new in te rn a tio n a l
ju rid ic a l fra m e w o rk th a t s y s te m a tic a lly p riv ile g e s th e d is c re tio n a ry rig h ts
o f c a p ita l o n a w o rld s c a le . S p e c ific a lly , G ill a rg u e s , th e n e w c o n s titu tio n -
alism entails the construction of supranational institutional forms and
the reconfiguration of existing state apparatuses in ways that 'lock in' the
m a rk e t-d is c ip lin a ry agenda o f g lo b a liz e d n e o -lib e ra lis m . T Ills p ro c e s s of
neo-liberal institutional lock-in is composed, above all, of measures to
promote maximal capital mobility, to extend capitalist markets into pre-
viously decommodified realms and to insulate economic relations from
democratic control.
Gill's account of the evolution of modern constitutionalism since the
late nineteenth century contains a suggestive theorization of the chan-
g in g g e o -h is to ric a l c o n s tru c tio n o f th e g lo b a l/n a tio n a l re la tio n s h ip (se e
F ig u re 8 .1 ) . U nder b o th lib e ra l and p ro g re s s iv e c o n s titu tio n a lis m , it is
the national that appears actively to constitute the systemic features of
th e g lo b a l c a p ita lis t o rd e r. In th e c a s e o flib e ra l c o n s titu tio n a lis m , it is th e
B ritis h s ta te th a t a tte m p ts to in s titu tio n a liz e a s e lf-re g u la tin g m a rk e t on a
w o rld s c a le th ro u g h th e g o ld s ta n d a rd s y s te m ; th e re s u lta n t d is lo c a tio n s
are then thought to ricochet back into Britain and other national soci-
e tie s in th e fo rm of w age v o la tility . C o n c o m ita n tly , e v e n th o u g h B rita in
a id e d in th e c o n s tru c tio n o f th e B re tto n W oods c u rre n c y s y s te m a fte r
th e S e c o n d W o rld W a r, p ro g re s s iv e c o n s titu tio n a lis m w a s la rg e ly c e n tre d
upon, and d o m in a te d b y , th e U n ite d S ta te s .
By contrast, the new constitutionalism appears to entail a direct inver-
s io n o f th e h is to ric a lly e n tre n c h e d n a tio n a l/g lo b a l re la tio n s h ip . The g lo b a l
is no longer seen as a product of nationally steered in s titu tio n a liz a tio n s .
In s te a d , it is n o w th e g lo b a l, in s titu tio n a liz e d in th e fo rm o f v a rio u s m u lti-
lateral apparatuses, that imposes market discipline upon national states.
W h e re a s, under lib e ra l c o n s titu tio n a lis m , th e g lo b a l w a s o n ly th in ly in s ti-
tu tio n a liz e d th ro u g h th e g o ld s ta n d a rd and in c ip ie n t in te rn a tio n a l fre e
trade agreements, the new c o n s titu tio n a lis m is composed of a relatively
dense in s titu tio n a l w eb o f m a rk e t-d is c ip lin a ry a p p a ra tu s e s a t b o th g lo b a l
128 N Brenner e t a l.

L ib e r a l P r o g r e s s iv e N ew
c o n s titu tio n a lis m c o n s titu tio n a lis m c o n s titu tio n a lis m

H is to r ic a l L a te n in e te e n th P o s t- S e c o n d W o r ld P o s t- 1 9 8 0 s p e r io d o f
c o n te x t a n d e a r ly tw e n tie th W a r p e r io d u n til th e 'd is c ip lin a r y
c e n tu r ie s m id 1 9 7 0 s n e e - lib e r a lis m '

R e la tio n to M a r k e t- M a r k e t- r e s tr a in in g : M a r k e t-
m a rk e t o rd e r c o n s tr u c tin g : g o a l is to 'e m b e d ' d is c ip lin a r y :
g o a l is to c r e a te m a r k e ts b y g o a l is to
a s e lf - r e g u la tin g te n d e n tia lly in s titu tio n a liz e
m a r k e t o n a w o r ld r e s tr ic tin g c a p ita lis t c a p ita lis t p r o p e r ty
s c a le th r o u g h th e p r o p e r ty r ig h ts r ig h ts o n a w o r ld
c o m m o d if ic a tio n s c a le
o f la n d , la b o u r a n d
c a p ita l

I n s titu tio n a l N in e te e n th - E v o lu tio n o f n a tio n a l I M F ,W T O ,

e x p r e s s io n s c e n tu r y n a tio n a l c o n s titu tio n s W o r ld B a n k ,W o r ld
c o n s titu tio n s e n s h r in in g p r iv a te E c o n o m ic F o ru m ,
e n s h r in in g p r iv a te p r o p e r ty r ig h ts in E U ,N A F T A
p r o p e r ty r ig h ts ; a c o n te x t o f m a s s
g o ld s ta n d a r d la b o u r m o v e m e n ts ;
s y s te m ; h ig h B r e tto n W o o d s
im p e r ia lis m m o n e ta r y s y s te m ;
d e c o lo n iz a tio n a n d
p o s t- c o lo n ia l s ta te
f o r m a tio n

G lo b a V G lo b a l o r d e r G lo b a l o r d e r G lo b a l o r d e r
n a tio n a l c o n s tr u c te d th r o u g h c o n s tr u c te d th r o u g h c o n s tr u c te d th r o u g h
r e la tio n s h ip th e h e g e m o n ic m u ltila te r a l and a r a n g e o f w o r ld w id e
p r o je c t o f B r ita in n a tio n a l in s titu tio n s , a n d s u p r a n a tio n a l
( s e e a ls o P o la n y i b u t s te e r e d in s titu tio n a l
1 9 4 4 /1 9 5 7 ) p r im a r ily b y th e a p p a r a tu s e s in c lo s e
U n ite d S ta te s ( s e e c o n ju n c tio n w ith
a ls o R u g g ie 1 9 8 3 ) th e r e o r g a r r iz a tio n
o f n a tio n a l s ta te
s tr u c tu r e s ( s e e a ls o
S assen 2007)

F ig u r e 8 .1 H is to r ic a l g e o g r a p h ie s o f m o d e rn c o n s titu tio n a lis m

S o u r c e : b a s e d o n G ill 1 9 9 8 a , 1 9 9 8 b , 2 0 0 0 a n d 2 0 0 3 .

a n d s u p r a n a tio n a l s c a le s , f r o m th e I M P , th e W o r ld B a n k a n d th e W T O
to th e E U , N A F T A a n d o th e r m u ltila te r a l o r g a n iz a tio n s . T h e d is c ip lin a r y
n a tu r e o f th is w o r ld w id e in s titu tio n a l w e b c o n s is ts n o t o n ly in its r ig id
o r ie n ta tio n to w a r d m a r k e t r u le , b u t a ls o in its r o le in s y s te m a tic a lly n a r -
r o w in g th e s o c io e c o n o m ic p o lic y p a r a m e te r s a v a ila b le to n a tio n a l s ta te s .
 V a r ie g a te d n e o -lib e r a liz a tio n 129

The new c o n s titu tio n a lis m e s ta b lis h e s a w o r ld w id e in s titu tio n a l g r id

th a t o ffe rs tr a n s n a tio n a l c a p ita l m u ltip le e x it o p tio n s w ith in p u ta tiv e ly
s u b o p tim a l r e g u la to r y e n v ir o n m e n ts . A t th e sam e tim e , it s h r in k s and
w eakens e s ta b lis h e d r e la y s o f p a r lia m e n ta r y - d e m o c r a tic c o n tr o l over cap-
ita lis t in v e s tm e n t a c tiv itie s . C o n s e q u e n tly , th e n ew c o n s titu tio n a lis m can

b e u n d e r sto o d as a m ean s to d is c ip lin e n a tio n a l sta te s to c r e a te in te r n a l

p o litic a l-in s titu tio n a l sp aces o r ie n te d to w a r d e x te n d e d , a c c e le r a te d c a p ita l

a c c u m u la tio n .

T h e d is tin c tiv e c o n tr ib u tio n of n ew c o n s titu tio n a lis t ap p roach es is

to f o r e g r o u n d th e g lo b a l d im e n s io n s o f c o n te m p o r a r y m a r k e t- o r ie n te d
r e g u la to r y tr a n s fo r m a tio n s an d to e x c a v a te th e q u a s i-d is c ip lin a r y ,

u n d e m o c r a tic m o d a litie s th r o u g h w h ic h m a r k e t r u le is b e in g r e a liz e d . A s

th is w ork p r o d u c tiv e ly d e m o n str a te s, n e o -lib e r a liz a tio n is im p le m e n te d ,

c o n s o lid a te d a n d re p ro d u c e d th r o u g h a c o m p le x o f w o r ld - s c a le ,m u ltil a t-
eral an d s u p r a n a tio n a l ju r id ic a l- in s titu tio n a l r e a r r a n g e m e n ts th a t im p o s e

n ew , r e la tiv e ly c ir c u m s c r ib e d p a r a m e te r s - in e ffe c t, an e n c o m p a s s in g

'r u le - r e g im e ' (P e c k 2002) - f o r r e g u la to r y e x p e r im e n ta tio n a c ro ss su b -

o r d in a te p la c e s , te r r ito r ie s an d s c a le s . I n o u r v ie w , h o w e v e r , th e r e r e m a in

se v e ra l m e th o d o lo g ic a l and s u b s ta n tiv e b lin d s p o ts th a t u n d e rc u t th e

c a p a c ity of such a p p ro a c h e s f u lly to illu m in a te th e s e p a r a m e te r iz in g
r u le -r e g im e s , p a r tic u la r ly a t n a tio n a l an d s u b n a tio n a l s c a le s .

G e o g r a p h ie s o f n e o -lib e r a liz a tio n

O n e s id e e f f e c t o f th e o th e r w is e p r o d u c tiv e e m p h a s is o n th e g lo b a l in s ti-
tu tio n a liz a tio n o f m a r k e t- d is c ip lin a r y r e g u la to r y p r o je c ts is a r e la tiv e
n e g le c t o f n a tio n a lly and s u b n a tio n a lly s c a le d p ro c e sse s o f r e g u la to r y
r e s tr u c tu r in g . F or in s ta n c e , G ill's m od el of th e n ew c o n s titu tio n a lis m

a p p e a rs to p o s it a u n id ir e c tio n a l lo g ic in w h ic h g lo b a l a n d s u p r a n a tio n a l
in s titu tio n s im p o s e d is c ip lin a r y c o n s tr a in ts 'd o w n w a r d s ' on n a tio n a l

s ta te s . W h ile th e r e is n o d o u b t th a t th e d e v o lu tio n a r y d u m p in g o f re g u -
la to r y r is k s an d th e s u b n a tio n a l c a n a liz a tio n o f 'a p p r o p r ia te ' r e g u la to r y

re sp o n se s re p re se n t k e y d im e n s io n s o f n e o - I ib e r a l p o litic a l s tr a te g y , th e
la tte r cannot e n tir e ly (p re -)p ro g ra m m e th e shape, tim in g o r s u b s ta n -
tiv e c o n te n t o f n a tio n a l, r e g io n a l and lo c a l in s titu tio n a l ( r e - ) c o n f ig u r a -
tio n s . In f a c t, G ill ( l9 9 5 a : 412) a c k n o w le d g e s th a t 'd is c ip lin e is b o th a
tr a n s n a tio n a l an d a lo c a l d im e n s io n o f p o w e r ', b u t h is a c c o u n ts te n d to

fo c u s a lm o s t e x c lu s iv e ly on th e fo r m e r : h e e m p h a s iz e s th e tr a n s n a tio n a l

c o n s tr u c tio n of p o lic y -m a k in g p a r a m e te r s, b u t h e d oes n ot e x p lo r e

th e p o s s ib ility o f d if f e r e n tia l s tr a te g ie s o f ( n a tio n a l and lo c a l) te r r ito r -

ia l a d a p ta tio n to th is g lo b a liz in g d is c ip lin a r y r e g im e . C o n c o m ita n tly ,
G ill does not f u lly c o n s id e r th e w ays in w h ic h th e p ro c e ss o f g lo b a l
130 N Brenner et a1.

parameterization is reciprocally shaped and reshaped through sub-

global forms of regulatory experimentation, interspatial policy transfer
and institutional re-jigging.
O f cou rse, g iv e n G ill's concern w ith fr a m e w o r k s of w o r ld order,

reproaching this tradition for its underdeveloped analysis of sub-global

regulatory transformations might appear to exemplify the category mis-
t a k e of 'misplaced c o n c r e te n e ss' - th a t is , e x p e c tin g it to y ie ld c o n c r e te

d e s c r ip tio n s w hen o n ly an a b str a c t p o r tr a y a l is in te n d e d . H ow ever, th e

is s u e here is n o t m e r e ly one o f a b s tr a c tio n versu s c o n c r e te n e ss; it is a ls o

methodological. In so far as market-disciplinary institutions and policies

a r e im p le m e n te d in d iffe r e n t fo r m s and degrees across p la c e s , s c a le s and

te r r ito r ie s , th e la n d s c a p e s o f n e o -lib e r a liz a tio n a r e c o n s titu tiv e ly an d sys-

te m ic a lly uneven. N e o -lib e r a liz a tio n p r o je c ts b u ild on, e x p lo it, in te n s ify

and r e -c a n a liz e in h e r ite d d iffe r e n c e s am on gst (s u p r a n a tio n a l, n a tio n a l

and subnational) regulatory landscapes. Consideration of such systemic-

ally produced variegations should be more than an empirical addendum
to th e g lo b a l p o r tr a it o f p a r a m e te r iz a tio n . Such v a r ie g a tio n s a r e c o -c o n -

s titu tiv e o f th e r e g u la to r y tr a n s fo r m a tio n s under in v e s tig a tio n , in c lu d in g

th o se a s s o c ia te d w ith th e p r o c e ss o f p a r a m e te r iz a tio n its e lf.

Modalities of neo-Iiberalization

On one reading Gill's analysis implies that the extension of neo-

liberalization is basically a process of imposition, in which formerly mar-
ket-restraining domestic political spaces are subjected to the disciplinary
agendas of global institutions. This emphasis on 'downward' disciplinary
im p o s itio n illu m in a te s an im p o r ta n t asp ect of n e o -lib e r a liz a tio n proc-

esses: th e u n d e m o c r a tic s u b je c tio n o f n a tio n a l p o p u la tio n s to g lo b a l or

s u p r a n a tio n a l fo r m s o f m a r k e t r u le . H o w e v e r , it is p r o b le m a tic to a ssu m e

th a t nco-liberalization p rocesses n o r m a lly or n e c e s s a r ily m ove a lo n g a

g lo b a l-to -n a tio n a l v e c to r , b ecau se th is le a v e s u n e x a m in e d o th e r p o te n -

tially significant interspatial circuits through which neo-liberalized regu-

la to r y program m es m ay be a n im a te d . For in s ta n c e , a tte n tio n m u st a ls o

be p a id to 'u p w a r d s ' r e la y s w ith in in te r -s c a la r h ie r a r c h ie s ; tr a n sv e r sa l

m anoeuvres across d iv e r g e n t in s titu tio n a l s ite s w ith in a r e g u la to r y la n d -

s c a p e ; o r s till m o r e e lu s iv e , p r o m is c u o u s a r c s o f p o lic y tr a n sfe r th a t d e fy

easy classification (Bockman and Eyal 2002; Dezalay and Garth 2002;
Ferguson and Gupta 2002).
Furthermore, this super-ordinate gaze fails to take account of the stra-
te g ic r o le o f n a tio n a l, r e g io n a l and lo c a l sta te a p p a r a tu se s a s a c tiv e pro-

genitors of neo-liberalizing institutional reforms and policy prototypes,

 V a rieg a ted n eo -lib era liza tio n 131

a n d a s a ren a s in w h ich m a rk et-o rien ted reg u la to ry ex p erim en ts a re in i-

tiated, consolidated and even extended. Thus understood, neo-liberal
refo rm 'm o d els' a re n o t sim p ly d esig n ed w ith in m u ltila tera l in stitu tio n s
a n d th en im p lem en ted tout court a t n a tio n a l a n d su b n a tio n a l sca les. M o re
freq u en tly , su ch m o d els a re p o ly m o rp h ic, in ter-sca la r co n stru ctio n s -
born of transnational, national and (new ly devolved) subnational institu-
tional reform fram ew orks; honed, custom ized and proved through policy
ex p erim en ta tio n ; rev a m p ed in lig h t o f u n a n ticip a ted fa ilu res, co n flicts
and crisis tendencies; and then som etim es also purposefully (re- )circu-
lated back into the inrerspatial netw orks of policy transfer from w hich
they originated (Peck 2002).

Pathw aysoCneo-liberalization

G ill's w o rk o ffers a critica l a cco u n t o f th e b ro a d er, crisis-riv en geo-

eco n o m ic co n tex t in a n d th ro u g h w h ich co n tem p o ra ry a n d h isto rica l
crisis ten d en cies a re g en era ted : h e d ecisiv ely rejects th e a ssu m p tio n th a t
p ro cesses o f reg u la to ry restru ctu rin g w ill p reserv e p o litico -in stitu tio n a l
stability, em phasizing instead the polarizing, dysfunctional ram ifications
o f d iscip lin a ry n eo -lib era lism . H ere, a k ey a n a ly tica l sp a ce is reserv ed
for a Polanyian 'double-m ovem ent', im plying that the disruptive effects
o f nee-liberalization m ay en g en d er b o th p ro g ressiv e a n d rea ctio n a ry
resp o n ses. T h u s, ev en w h en p ro jects o f m a rk et ru le a re im p o sed co m p re-
h en siv ely u p o n a so cia l fo rm a tio n - fo r in sta n ce, th ro u g h th e su b jectio n
of im poverished, polirically w eak nations to structural adjustm ent pol-
icies - th e o u tco m es in v a ria b ly in clu d e n ew fo rm s o f d islo ca tio n , co n flict
and political m obilization. The project of neo-liberalization is thus said
not only to disrupt established regulatory practices and social conven-
tio n s, b u t to o p en u p n ew p o litica l sp a ces in w h ich a ltern a tiv es to tra n s-
n a tio n a l co rp o ra te p o w er m a y b e a rticu la ted .
M arket-driven regulatory projects are indeed perm eated by crisis ten-
d en cies, b u t it w o u ld h e a m ista k e to fo cu s o n e-sid ed ly o n th e 'resp o n se'
side of the Polanyian double-m ovem ent - that is, on the oppositional
social forces and political m ovem ents provoked by neo-liberalization
projects. W hile this em phasis is certainly w ell justified, w e w ould argue
that it has led m any analysts to bracket the w ays in w hich neo-liber-
a liza tio n p ro jects a re itera tiv ely reconstituted in co n ju n ctio n w ith b o th
em erg en t m o d es o f resista n ce a n d th eir o w n crisis ten d en cies. T h e co -
o p ta tio n o f m a rk et-co n stra in in g in terests a n d in stitu tio n s; th e erectio n o f
fla n k in g m ech a n ism s to m a n a g e th e p o la rizin g co n seq u en ces o f in ten si-
fied com m odification; and the reinforcem ent or m utation of nee-liberal
132 N. Brenner et a!.

policies in the face of opposition or outright failure - all these are part of
the extended dynamics of institutional creative destruction under condi-
tions of deepening nee-liberalization.' Each 'round' of neo-liberalization
reshapes the institutional landscapes through which subsequent neo-
liberalization projects unfold. The substantive character of each round
of neo-liberalization is forged through the contextually specific forms of
friction, resistance and crisis that are engendered through this combative
encounter. In effect, the interplay between neo-liberalization projects and
inherited institutional landscapes produces a propulsive ricocheting of
multiple, differentially spatialized yet interconnected double-movements
across places, territories and scales.Whatever its spatial morphology and
evolutionary pathway, each of these reactions represents a path-depend-
ent expression of the regulatory incursions that preceded it. Each such
reaction also opens up a determinate complex of politico-institutional
spaces for subsequent double-movement dynamics. Given the extraor-
dinary diversity of path-dependent double-movements involved in such
regulatory transformations, their polymorphic spatial morphologies and
their contextually specific evolutionary trajectories, a singular, world-
scale application of the Polanyian double-movement scheme would seem
to offer a relatively undifferentiated depiction of neo-liberalization pro-
cesses. This is not simply a matter of movements in the global tides; cur-
rents, eddies and blockages in regulatory dynamics at all spatial scales
make a (constitutive) difference.
The evolutionary pathways of neo-liberalization processes cannot be
understood adequately either through an investigation of how nationally
specific neo-liberal 'transitions' are guided 'from above', or alternatively,
through a more contextually circumscribed periodization of nationally
specific 'varieties ofneo-liberalism' (Cerny et at. 2005). Rather, the mot-
tled, striated and volatile dynamics of neo-liberalization across places,
territories and scales have been co-evolving with the tendentially neo-
liberalizing global, supranational and multilateral rule-regimes that
have been explored so incisively within new constitutionalist scholar-
ship. Through a mutually recursive process of institutional and spatial
structuration, such rule-regimes variously collide with, parameterize
and iteratively meld with these subordinate institutional landscapes.
While the geographies and choreographies of such rule-regimes are at
least partly forged through their combative interactions with subordin-
ate institutional landscapes, the precise nature and implications of this
co-evolution clearly require more systematic investigation.

1 Editors' footnote: see Chapter 2 by Stephen Gill on measures for dealing with disloca-
tions and contradictions, and associated mechanisms of incorporation.
 V a r ie g a t e d n e o - lib e r a liz a t io n 133

T o w a r d a m o v in g m a p o f n e o - I ib e r a liz a t io n

H a rv e y has u n d e rsc o re d th e d iffic u ltie s o f c o n s tru c tin g a 'm o v i n g m ap

o f th e p ro g re ss o f n e o lib e ra liz a tio n o n th e w o rld s ta g e s in c e 1 9 7 0 '. T h e
c h a lle n g e , H a rv e y (2 0 0 5 : 8 7 ) p ro p o se s, i s 't o u n d e r s t a n d h o w lo c a l tra n s -
f o r m a t io n s r e la t e t o b r o a d e r t r e n d s ' b y t r a c k in g t h e 't u r b u le n t c u r r e n t s
of uneven g e o g ra p h ic a l d e v e lo p m e n t' th a t a re p ro d u c e d th ro u g h neo-
lib e r a liz a t io n p rocesses.
H ow to c o n fro n t th is c h a lle n g e , and how m ig h t s tu d ie s of new con-
s t it u t io n a lis m c o n t r ib u t e to it ? W h a t w o u ld a m o v in g m ap of neo-
lib e ra liz a tio n p ro c e sse s d u rin g th e la s t 3 0 -p lu s y e a rs lo o k lik e ? W ith a
f e w n o t a b le e x c e p t io n s , t h e e x t a n t lit e r a t u r e s o n n e o - lib e r a liz a t io n have
sp aw n ed n o m o r e t h a n p a r t ia l r e s p o n s e s t o t h is c h a lle n g e , n o t le a s t d u e
to th e ir u n d e rd e v e lo p e d c o n c e p tu a liz a tio n s o f re g u la to ry uneven d e v e l-
opm ent (B re n n e r et al. 2 0 1 0 ). W h ile th e y h a v e id e n tifie d any num ber of
k e y fe a tu re s w ith in th e p e rp e tu a lly m o rp h in g la n d s c a p e s o f p o s t-1 9 7 0 s
m a rk e t-d is c ip lin a ry re g u la to ry c h a n g e , in c lu d in g th e g lo b a l ru le -re g im e s
a n a ly z e d by new c o n s t it u t io n a lis t s c h o la r s , m ost a c c o u n ts have been
le s s c o n c e r n e d w it h r e la t in g t h e s e e le m e n t s to o n e a n o th e r , a n d to th e
b r o a d e r 'c u r r e n t s o f u n e v e n g e o g r a p h ic a l d e v e lo p m e n t ' t o w h ic h H a r v e y
(2 0 0 5 : 8 7 ) re fe rs. In o rd e r to c o n fro n t th e s e ta s k s , w e d is tin g u is h th re e
c o r e a n a ly t ic a l d im e n s io n s o f n e o - lib e r a liz a t io n p rocesses.

Regulatory experiments
T hese a re p la c e -, te rrito ry - and s c a le -s p e c ific p ro je c ts d e s ig u e d to
im p o s e , in te n s ify o r re p ro d u c e m a rk e t-d is c ip lin a ry m o d a litie s o f g o v e rn -
ance. Such p ro je c ts a re n e c e s s a rily p a th d e p e n d e n t, a n d g e n e ra lly e n ta il
b o th a d e s tru c tiv e m om ent (e ffo rts to ro ll b a c k n o n -m a rk e t, a n ti-m a rk e t
o r m a r k e t - r e s t r a in in g r e g u la t o r y a r r a n g e m e n ts) a n d a c r e a t iv e m o m e n t
(s tra te g ie s to ro ll fo rw a rd a new p o litic o -in s titu tio n a l in fra s tru c tu re fo r
m a rk e tiz e d re g u la to ry fo rm s).

Systems of inter-jurisdictional policy transfer

T hese a re n e tw o rk s o f k n o w le d g e s h a rin g th ro u g h w h ic h n c o -lib e ra l

p o lic y p ro to ty p e s a re c irc u la te d , g e n e ra lly tra n s n a tio n a lly , fo r re d e p lo y -
m ent e ls e w h e re . B y e s ta b lis h in g c e rta in ty p e s o f re g u la to ry s tra te g ie s as
'p r o t o t y p ic a l', su c h n e tw o r k s enhance th e id e o lo g ic a l le g itim a c y o fn e o -
lib e ra l p o lic y te m p la te s w h ile e x te n d in g th e ir a v a ila b ility a s re a d ily a c c e s s -
ib le , a ll-p u rp o s e 's o l u t i o n s ' to c o n te x tu a lly s p e c ific re g u la to ry p ro b le m s .
A t t h e s a m e t im e , h o w e v e r , e v e n t h e m o s t a p p a r e n t ly p r o t o t y p ic a l f o r m s
134 N Brenner et al.

of neo-liberal policy are qualitatively transform ed through their circu-

lation through such netw orks. A lthough they m ay appear to be readily
available for smooth transfer within a fast-moving circulatory network,
and thus able to prom ote a hom ogenization of regulatory space, such
policy m obilities rem ain em bedded w ithin politico-institutional con-
texts that shape their form, content, reception and evolution, leading to
unintended and intensely variegated outcomes. In the context of neo-
liberalization processes, therefore, inter-jurisdictional policy transfer is
an important mechanism not only of spatial consolidation, but of insti-
tutional differentiation.

Transnational rule-regimes

These are large-scale institutional arrangements, regulatory frameworks,

legal system s and policy relays that im pose determ inate 'rules of the
gam e' on contextually specific form s of policy experim entation and regu-
latory reorganization, thereby framing the activities of actors within spe-
cific politico-institutional parameters.

R estless landscapes of neo-liberalization

A ny m apping of neo-liberalization processes derived from these distinc-

tions w ould contrast sharply w ith the diffusiottist m odels that prevail in
the orthodox literature, w hich are closely aligned w ith the anticipation
of policy convergence and various form s of m ethodological nationalism .
S o too w ould it contrast m arkedly w ith the global-to-national m odels
of neo-liberal imposition associated with some strands of new constitu-
tionalist scholarship. B ut such a m apping could not, in itself, illum inate
every concrete feature on the landscapes of nco-liberalization, across dif-
ferential spatia-temporal contexts. Nonetheless, on a more abstract level,
such an approach can serve as an analytical basis on which to interpret
the creatively destructive trajectories and uneven development of neo-
liberalization processes since the 1970s.
T o this end, building on the above distinctions, F igure 8.2 outlines a
stylized periodization of post-1970s neo-liberalization processes. In this
figure, the three dim ensions of regulatory restructuring no longer serve
as ideal-typical categories, but are now mobilized to illum inate the his-
torical-geographical evolution of neo-liberalization processes them selves.
T he top row delineates each of the three distinctions specified above,
understood as interlinked dim ensions of regulatory restructuring under
conditions of ongoing neo-liberalization. T he first colum n specifies a
generic, decade-based tim eline, from the 1970s through the 2000s. T he
 D I M E N S iO N S OF REG ULATO RY R E S T R U C T U R IN G

C O N T E X T -S P E C IF IC SYSTEM S OF R U L E -R E G IM E S AND

FORM S OF INTER-JURI$DICTIONAl P A R A M E T E R IZ A T IO N

REG ULATO RY P O L IC Y TRANSFER PROCESSES

E X P E R IM E N T A T IO N

D IS A R T IC U L A T E D
I n t e n s if ic a t io n o f n e o - K e y n e s ia n fo rm s o f c ro s s -
NEO-
19708 ju r is d ic t io n a l p o lic y t r a n s f e r in r e s p o n s e t o p e r v a s iv e
L IB E R A L IZ A T IO N
q e o - e c o n o m lo v o la t ilit y , e s p e c ia lly w it h in t h e D E C O z o n e
N e e - lib e r a liz a t io n p r o je c t s
assum e p la c e - , t e r r it o r y - T e n d e n t ia r e m e r g e n c e o f n e o - lib e r a liz in g f o r m s o f p o lic y
and s c a le - s p e c if ic fo rm s tra n s fe r a c ro s s in t e r s t it ia l g e o p o lit ic a l v e c to rs

in a 'h o s t ile ' g e o - e c o n o m ic ( e . g . C h ic a g o t o S a n t ia g o )

c o n te x t s t ill d e f in e d by la t e
K e y n e s ia n r e g u la t o r y
A c c e le r a t in g id e o lo g ic a l c r it iq u e s o f K e y n e s ia n e c o n o m ic

a rra n g e m e n ts and d o c t r in e s ; in c r e a s in g s ig n s o f s y s t e m ic c r is is w it h in t h e

e m e rg e n t c r is is t e n d e n c ie s
in t e r n a t io n a l n n e - r e q lm e o f p o s t-w a r e m b e d d e d lib e r a lis m

ORCHESTRATED N E o - liB E R A lI Z A T IO N T e n d e n t ia l d e s t r u c t io n o f
C o n t in u e d in t e n s if ic a t io n o f m a r k e t - d r iv e n f o r m s o f 'p r o g r e s s iv e
r e g u la t o r y e x p e r im e n t a t io n a n d in s t it u t io n a l r e f o r m a t v a r io u s c o n s t it u t io n a lis m ' at
s p a t ia l s c a le s a n d in s t r a t e g ic z o n e s ( e . g . U n it e d S t a t e s , g lo b a l, s u p r a n a t io n a l a n d
1980s U K , L a t in A m e r ic a ) n a t io n a l s c a le s

T e n d e n lia l w e a k e n in g / e x h a u s t io n o f n e o - K e y n e s ie n T e n d e n t ia l c o n s o lid a t io n
n e tw o rk s o f p o lic y t r a n s f e r c o u p le d w it h o n g o in g , in t e n s e ly o f a 'n e w
c o n te s te d s e a rc h e s f o r n e w 'in s t it u t io n a l f ix e s ' t o r e s o lv e c o n s t it u t io n a lis m ' t h r o u g h
p e r s is t e n t ~ e o - r e g u la t o r y c r is e s t h e m a r k e t - d r iv e n
r e d e f in it io n o f v a r io u s
T e n d e n t la l t h ic k e n in g , t r a n s n a t io n a llz a lio n , m u t u a l r e c u r s io n , g lo b a l, s u p r a n a t io n a l a n d
p r o g r a m m a t ic in t e g r a t io n a n d c o - e v o lu t io n o f p o lic y n a t io n a l r e g u la t o r y
n e tw o rk s o r ie n t e d to w a rd m a r k e t - d r iv e n r e g u la t o r y in s t it u t io n s
e x p e r im e n t s a n d in s t it u t io n a l r e f o r m s ( e . g . m o n e t a r is m ,
lib e r a liz a t io n , p r iv a t iz a t io n , u r b a n e n t r e p r e n e u r ia lis m ,
r e in v e n t e d g o v e rn a n c e , e tc .)

D E E P (E N IN G ) N E O - liB E R A lI Z A T I O N

W h e t h e r o r n o t t h e y a r e e x p lic it ly m a r k e t - d r iv e n o r m a r k e t - c o n s t r a in in g , c o n t e x t u a lly
s p e c if ic f o r m s o f r e g U la t o r y e x p e r im e n t a t io n a n d in s t it u t io n a l r e f o r m a r e in c r e a s in g ly
f r a m e d w it h in b r o a d ly n e o - I ib e r a liz e d p a r a m e t e r s o r 'r u le s o f t h e g a m e '

1990s N e o - llb e r a p z e d s y s t e m s o f p o lle y t r a n s f e r a r e in c r e a s in g ly m o b iliz e d t o a d d r e s s t h e c r is is

t e n d e n c ie s a n d c o n t r a d ic t io n s e n g e n d e r e d t h r o u g h e a r lie r r o u n d s o f m a r k e t - d r iv e n
r e g u la t o r y r e s t r u c t u r in g

M a c r o - s p a t ia l in s t it u t io n a l f r a m e w o r k s a r e n o w r e c a s t in n e o - u c e r e llz e d t e r m s - m a rk e t-
b a s e d p a ra m e te rs a r e t h u s in c r e a s in g ly im p o s e d u p o n s u b o r d in a t e s c a le s o f r e g u la t o r y
e x p e r im e n t a t io n

F ig u re 8 .2 F ro m d is a rtic u la te d to d e e p (e n in g ) n e o -lib e ra liz a tio n :

a s ty liz e d o u tlin e
N o te : S h a d e d c e lls d e n o te th e d im e n s io n s o f re g u la to ry re s tru c tu rin g in w h ic h
n e o -lib e ra liz a tio n te n d e n c ie s h a v e b e e n m o st p ro n o u n c e d . E v e n in th e s h a d e d
c e lls , h o w e v e r, o th e r fo rm s o f re g u la to ry re s tru c tu rin g c o e x is t a lo n g s id e n e o -
lib e ra liz a tio n te n d e n c ie s .
136 N Brenner et a1.

shaded cells denote the dim ensions of regulatory restructuring in w hich,

o n o u r rea d in g , n eo -lib era liza tio n h a s b een m o st p ro n o u n ced sin ce its in i-
tial institutional elaboration in the 1970s. C oncom itantly, the w hite cells
in the upper quadrants denote zones of regulatory activity that, during
the corresponding decade(s) specified in the first colum n, w ere largely
co n fig u red a cco rd in g to m a rk et-restra in in g p rin cip les (K eynesianism ,
progressive constitutionalism ). W ith each successive decade, the shaded
zones in the figure are w idened to include an additional colum n. T his
sig n ifies w h a t w e v iew a s a tendential, m a cro -sp a tia l sh ift fro m d isa rticu -
lated to deepening form s of neo-liberalization.
As depicted in the first m ain row of F igure 8.2, disarticulated
neo-liberalization crystallized during the 1970s, and w as based pre-
dom inantly on place-, territory- and scale-specific form s of m arket-dis-
cip lin a ry reg u la to ry ex p erim en ta tio n . O f co u rse, n eo -lib era l d o ctrin e
had em erged during the 1930s and 1940s, w hen it w as m obilized as
a critiq u e o f th e co n so lid a tin g K ey n esia n p o litica l-eco n o m ic o rd er.
H o w ev er, it w a s n o t u n til th e ea rly 1 9 7 0 s th a t rea l-tim e ex p erim en ts in
nco-liberalization w ere elaborated, albeit w ithin a largely hostile geo-
eco n o m ic co n tex t d efin ed b y la te K ey n esia n reg u la to ry a rra n g em en ts
a n d stra teg ies o f crisis m a n a g em en t.
D u rin g th e 1 9 8 0 s, a n ew fro n tier o f n eo -lib era liza tio n w a s o p en ed ,
as a repertoire of neo-liberal policy tem plates began to circulate trans-
n a tio n a lly a n d to a cq u ire th e sta tu s o f a ll-p u rp o se 'so lu tio n s' to d iv erse
regulatory problem s and crisis tendencies (F igure 8.2, row 2). W hile this
o ccu rred p a rtly th ro u g h a co lo n iza tio n o f ex ta n t, nee-K eynesian p o licy
tra n sfer n etw o rk s (fo r in sta n ce, w ith in th e O rg a n isa tio n fo r E co n o m ic
C o-operation and D evelopm ent (O E C D ), the W orld B ank and the
IM F ), it also involved the construction of new inter-jurisdictional cir-
cuits for the prom otion, legitim ation and delivery of neo-liberal policy
tem plates, m ediated through an increasingly influential cadre of experts
and 'technopols' such as the infam ous C hicago B oys. T hrough a series
o f tria l-a n d -erro r m a n o eu v res, m a n y o f th e co re n eo -lib era lizin g reg u la -
to ry ex p erim en ts o f th e 1 9 7 0 s - su ch a s p riv a tiza tio n , fin a n cia liza tio n ,
lib era liza tio n , w o rk fa re a n d u rb a n en trep ren eu ria lism - su b seq u en tly
a cq u ired p ro to ty p ica l sta tu s, a n d b eca m e k ey referen ce p o in ts fo r su b -
sequent projects of neo-liberalization. N eo-liberalizing form s of regula-
to ry restru ctu rin g w ere m o b ilized in d iv erse p o licy a ren a s b y n a tio n a l,
regional and local institutions not only in N orth A m erica and W estern
E urope, but also w ithin an uneven, globally dispersed patchw ork of post-
d ev elo p m en ta l sta tes a n d p o st-co m m u n ist zo n es fro m L a tin A m erica
and S ub-S aharan A frica to E astern E urope and A sia. In order to facili-
ta te th e circu la tio n a n d leg itim a tio n o f m a rk et-b a sed refo rm stra teg ies,
 Variegated n ee-lib eralizatio n 137

new extra-jurisdictional relays were constructed. Such fast policy net-

w o rk s w ere th ick en ed b y th e late 1 9 8 0 s fo llo w in g th e Latin A m erican
d eb t crisis an d , su b seq u en tly , th e co llap se o f th e S o v iet b lo c. T h e p rev i-
ous form ation of disarticulated neo-liberalization was thus transform ed
in to a m o re tig h tly n etw o rk ed , tran sn atio n ally o rch estrated fo rm atio n
of m utually recursive, inter-referential policy reform strategies. Under
these circum stances, neo-liberalization projects no longer appeared as
relatively isolated instances of m arket-disciplinary regulatory experim en-
tatio n lo d g ed w ith in a h o stile p o litical-eco n o m ic en v iro n m en t. In stead ,
patterns of reciprocal influence, coordination and exchange were estab-
lished am ongst neo-liberalizing reform program m es across diverse
jurisdictional contexts and scales. Increasingly, such program m es were
recursively interconnected in order to accelerate, deepen and intensify
their transnational circulation and im plem entation.
T h is d eep en in g fo rm atio n o f n eo -lib eralizatio n w as fu rth er co n so l-
id ated d u rin g th e 1 9 9 0 s, as m ark et-d iscip lin ary refo rm ag en d as w ere
in stitu tio n alized o n a w o rld scale th ro u g h an array o f m u ltilateral, m u lti-
level and supranational ju rid ico -in stiru tio n al rearrangem ents. This ten-
d en cy is d ep icted in th e lo w est, fu lly sh ad ed ro w o f F ig u re 8 .2 . P rio r to
th is p erio d , p o st-w ar reg u lato ry in stitu tio n s su ch as th e IM F , th e W o rld
B an k , th e G en eral A g reem en t o n T ariffs an d T rad e (G A T T ) an d , u n til
th e early 1 9 7 0 s, th e B retto n W o o d s ag reem en t h ad estab lish ed a b ro ad ly
K ey n esian fram ew o rk fo r w o rld w id e p ro d u ctio n an d trad e. W h ile th ese
arran g em en ts w ere d estab ilized d u rin g th e 1 9 7 0 s an d 1 9 8 0 s, it w as n o t
u n til th e 1990s th at a g en u in ely p o st-K ey n esian , n eo -lib eralized g lo b al
ru le-reg im e w as co n so lid ated . T h ro u g h th e m ark et-d iscip lin ary red e-
sig n o f su p ran atio n al in stitu tio n al arran g em en ts, fro m th e O E C D , th e
W o rld B an k an d th e IM F to th e W T O , th e p o st-M aastrich t EU an d
NAFTA, n ee-lib eralizatio n now cam e to restructure the very g eo -in sti-
tu tio n al fram ew o rk s g o v ern in g n atio n al an d su b n atio n al reg u lato ry
experim entation. This neo-liberalized g eo -in stitu tio n al configuration is
freq u en tly referred to as th e 'W ash in g to n C o n sen su s', b u t its reg u la-
to ry elem en ts an d p o litical-eco n o m ic g eo g rap h ies can n o t b e red u ced
to a p u rely U S -b ased h eg em o n ic p ro ject. R ath er, th e n ew co n stitu tio n -
alism asso ciated w ith th e ascen d an t n eo -lib eralized g lo b al ru le-reg im e
h as also h in g ed upon fo rm s o f reg u latio n an d en fo rcem en t p ro d u ced
an d ad m in istered b y th e W T O ; su p ran atio n al reg u lato ry b o d ies, m u l-
tinational organizations and regional free trade zones; as well as quasi-
in d ep en d en t g lo b al eco n o m ic b o d ies su ch as th e B an k fo r In tern atio n al
S ettlem en ts (G ill 2 0 0 3 ). T h e co n so lid atio n o f su ch n eo -lib eralized ru le-
regim es, which are designed to im pose m arket-disciplinary param eters
upon n atio n al an d su b n atio n al in stitu tio n s, is arg u ab ly o n e o f th e m o st
138 N Brenner e t a l.

f a r - r e a c h in g consequences o f th e la s t th r e e decades o f n e o - lib e r a liz in g

p o litic a l-e c o n o m ic r e fo r m .
A s th e b o tto m ro w o f F ig u r e 8 .2 in d ic a te s , n e o - lib e r a liz a tio n p ro -
cesses have a ls o tr a n s fo r m e d th e very g e o -in s titu tio n a l fr a m e w o r k s
w ith in w h ic h r e g u la to r y uneven d e v e lo p m e n t u n f o ld s , c a u s in g o th e r w is e
c o n te x tu a lly s p e c ific fo r m s o f r e g u la to r y e x p e r im e n ta tio n and in te r -
ju r is d ic tio n a l p o lic y tr a n s f e r to b e c a n a liz e d a lo n g m a r k e t- d is c ip lin a r y
p a th w a y s . T h is r u le - r e g im e h a s c e r ta in ly not d is s o lv e d th e p a th depen-
dency a n d c o n te x tu a l s p e c if ic ity o f n e o - lib e r a liz in g re fo rm p r o je c ts . B ut
it h a s q u a lita tiv e ly tr a n s f o r m e d w hat m ig h t b e te r m e d th e 'c o n te x t of
c o n te x t' - th e p o litic a l, in s titu tio n a l a n d ju r id ic a l te r r a in w ith in w h ic h
lo c a lly , r e g io n a lly a n d n a tio n a lly s p e c if ic p a th w a y s o f r e g u la to r y r e s tr u c -
tu r in g a r e fo r g e d . N o moving m a p o f n e e - lib e r a liz a tio n c a n b e c o m p le te ,
w e w o u ld a r g u e , w ith o u t a tte n tio n to s u c h m a c r o -s p a tia l fr a m e w o r k s and
p o litic o -in s titu tio n a l p a r a m e te r s , fo r th e y h a v e c r u c ia l im p lic a tio n s fo r
c o n te x tu a lly s itu a te d p rocesses o f r e g u la to r y e x p e r im e n ta tio n , w h e th e r
m a r k e t-d is c ip lin a r y o r m a r k e t-r e s tr a in in g .

S c e n a r io s o f c o u n t e r - n e o - lib e r a liz a t io n : to w a r d a
p r o g r e s s iv e n e w c o n s t it u t io n a lis m ?

The m e d iu m - and lo n g - te r m tr a je c to r ie s o f r e g u la to r y r e s tr u c tu r in g
a r e in h e r e n tly u n p r e d ic ta b le ; th e y r e m a in to b e f o u g h t o u t th r o u g h th e
c o n ju n c tu r a lly em bedded s tr u g g le s p ro v o k e d b y th e c o n tr a d ic tio n s of
e a r lie r r o u n d s o f n e o - lib e r a liz a tio n . N o n e th e le s s , th e p r e c e d in g c o n s id -
e r a tio n s su ggest an approach fo r c o n fr o n tin g s u c h q u e s tio n s - o n e th a t
a tte n d s s im u lta n e o u s ly to g lo b a l r e g u la to r y shocks a n d th e ir p la c e - , te r -
r ito r y - a n d s c a le -s p e c ific r a m ific a tio n s , w h ile a v o id in g d u a lis tic tr a n s i-
tio n m o d e ls a n d a s s o c ia te d d e c la r a tio n s o fn e o -lib e r a lis m 's d e m is e . H ere
w e s k e tc h s e v e r a l p o s s ib le s c e n a r io s fo r fu tu r e tr a je c to r ie s o f r e g u la to r y
r e s tr u c tu r in g ( F ig u r e 8 .2 ; f o r a m o r e d e ta ile d d is c u s s io n o f c o n te m p o r -
a r y p a th w a y s o f c r is is -d r iv e n r e g u la to r y r e s tr u c tu r in g , see P eck et al.
2 0 1 0 ,2 0 1 2 ,2 0 1 3 ) .
The upper ro w o f F ig u r e 8 .2 p r e s e n ts each o f th e th r e e d im e n s io n s
o f n e e - lib e r a liz a tio n ; th e f a r le f t c o lu m n lis ts f o u r s c e n a r io s f o r f u tu r e
p a th w a y s o f r e g u la to r y r e s tr u c tu r in g . A s in d ic a te d b y th e s h a d e d p a tte r n
in th e f ig u r e , e a c h o f th e f o u r s c e n a r io s e n ta ils a d if f e r e n t d e g re e of neo-
lib e r a liz a tio n , d e fin e d w ith r e fe r e n c e to s o m e c o m b in a tio n am on gst th e
th r e e d im e n s io n s lis te d in th e to p r o w .
The s c e n a r io o f z o m b ie n e o -lib e r a liz a tio n is d e p ic te d in th e fir s t r o w .
In th is s c e n a r io , d e s p ite its d is r u p tiv e , d e s tr u c tiv e con seq u en ces, th e
g lo b a l e c o n o m ic c r is is o f 2 0 0 8 -1 2 does not s ig n if ic a n tly u n d e r m in e
 V a rie g a te d n e o -Iib e ra liz a tio n 139

D IM E N S IO N S O F REG ULATO RY R E S T R U C T U R IN G

C O N T E X T ~ S P E C IF IC SYSTEM S OF
R U L E -R E G IM E S A N D
FORM S OF IN T E R -
P A R A M E T E R IZ A T IO N
REG ULATO RY J U R IS D IC T IO N A L
PROCESSES
E X P E R IM E N T A T IO N P O L IC Y T R A N S F E R

S c e n a r io 1: O rth o d o x n e o - s b e r a r id e o lo g y is s e v e r e ly u n d e r m in e d , b u t th e r e is a c o n tin u e d n e o -
z o m b ie nee- lib e r a liz a tio n 0 1 e a c h o f th e th r e e d im e n s io n s o f r e g u la to r y r e s tr u c tu r in g , o fte n th r o u g h
lib e r a liz a tio n te c h n o c r a tic m eans

C r is is te n d e n c ie s a n d fa ilu r e s o f m a r k e t- d r iv e n r e g u la to r y a r r a n g e m e n ts c o n tr ib u te to a
fu rth e r e n tre n c h m e n t o f n e o - lib e r a liz a tio n p r o j e c t s a s p u t a t i v e 's o l u t i o n s ' t o p e r s i s t e n t
r e g u la to r y d ile m m a s a c r o s s s c a le s , te r r ito r ie s a n d c o n te x ts

S c e n a r io 2: T e n d e n tia l m o b iliz a tlo n C o n tin u e d n e o - Iib e r a liz a tio n o f tr a n s n a tio n a l p O lic ytr a n s le r

d is a r tic u la te d o f m a r k e t- c o n s tr a in in g , s y s te m s a n d r u le - r e g im e s

c o u n te r-n e e - r e d is tr ib u tiv e a n d /o r
lib e r a liz a tio n 'p u s h - b a c k ' r e g u la to r y C o u n te r - lib e r a liz a tio n p r o je c ts r e m a in r e la tiv e ly fr a g m e n te d ,
d is c o n n e c te d a n d p o o r ly c o o r d in a te d - th e y have not
e x p e r im e n ts a c ro s s
s ig n ific a n tly in filtr a te d m u ltila te r a l, s u p r a n a tio n a l o r g lo b a l
d is p e r s e d , d is a r tic u la te d
In s titu tio n a l a r e n a s
c o n te x ts a t lo c a l,
r e g io n a l a n d n a tio n a l
M a c r o - s p a tia l r u le - r e g im e s c o n tin u e to b e d o m in a te d b y m a r k e t
s c a le s
lo g ic s , d e s p ite p e r s is te n t c r itiq u e s fr o m e x tr a - in s tilu tio n a l
l o c a t i o n s a n d 'f r o m b e l o w ' ( e . g . t h e g l o b a l j u s t i c e m o v e m e n t )

S c e n a r io 3: In te n s ifie d o r c h e s tr a tio n , m u tu a l C o n tin u e d n e e - lib e r a liz a tio n o f r u le - r e g im e s :

o rc h e s tra te d r e c u r s io n and t e n d e n t i a l c o - e v o l u t i o n o f c o u n te r - lib e r a liz a tio n p r o je c ts m a y n o w

c o u n te r-n e e - m a r k e t- c o n s tr a ln in g , r e d is tr ib u tiv e b e g in to in filtr a te m a c r o - s p a tia l r u le - m a k in g

lib e r a liz a tio n r e g u la to r y e x p e r im e n ts a c ro s s in s titu tio n s ( e .g . th e W o r ld B a n k , th e

in c r e a s in g ly in te r lin k e d c o n te x ts E u r o p e a n U n io n ) b u t d o n o t s u c c e e d in
r e o lie n tin g th e ir b a s ic m a r k e t- d r iv e n
T h ic k e n in g , in te n s ific a tio n a n d e x te n s io n o r ie n ta tio n s
o f n e tw o rk s o f p o lic y tr a n s fe r b a s e d
u p o n ( p r o g r e s s iv e o r r e g r e s s iv e )
a lte r n a tiv e s to m a r k e t r u le

S c e n a r io 4: C o n tin u e d in te n s ific a tio n o f ( p r o g r e s s iv e o r r e a c tio n a r y fo r m s o f) m a r k e t- c o n s tr a in in g ,

p r o g r e s s iv e , r e d is tr ib u tiv e , r e - e m b e d d in q a n d s o c ia liz in g r e q u la to r y e x p e r im e n ta tio n
com m unal or
s o c ia lis t C o n tin u e d e la b o r a tio n a n d tr a n s n a tio n a l c o n s o lid a tio n o f m a r k e t- c o n s tr a in in g ,

nee- r e d is tr ib u tiv e a n d s o c ia liz in g fo r m s o f c r o s s - ju r is d ic tio n a l p o lic y tr a n s fe r

c o n s titu tio n a lis m

D e s ta b iliz a tio n /d is m a n tlin g o f n e o - lib e r a liz e d r u le - r e g im e s ; c o n s tr u c tio n o f a lte r n a tiv e ,
m a r k e t- c o n s tr a in in g , r e d is tr ib u tiv e a n d s o c ia liz in g fr a m e w o r k s fo r m a c r o - s p a tia l
r e g u la to r y o r g a n iz a tio n

F ig u re 8 .3 C o u n re r-n e o -lib e ra liz a tio n : fu tu re p a th w a y s a n d sc e n a rio s

N o te : S h a d e d c e lls d e n o te th e sp h e re s o f re g u la to ry re stru c tu rin g in w h ic h n e o -
lib e ra liz a tio n is m o st p ro n o u n c e d .
 --
140 N Brenner et al.

th e n e o -lib e ra liz a tio n te n d e n c ie s o f th e la s t th re e decades (P e c k et al.

2 0 1 0 ). The new c o n s titu tio n a lis t, n e o -lib e ra liz e d ru le -re g im e th a t had
been c o n s o lid a te d d u rin g th e 1990s and e a rly 2000s m ay b e re c a lib ra te d
to restrain certain forms of financial speculation, but its basic orienta-
tion toward imposing market-disciplinary parameters on supranational,
national, regional and local economies remains dominant. Orthodox neo-
lib e ra l id e o lo g y is n o w in c re a s in g ly c a lle d in to q u e s tio n , but th e p o litic a l
machinery of state-imposed market discipline remains essentially intact;
p o lic y agendas c o n tin u e to b e s u b o rd in a te d to th e p rio rity o f m a in ta in -
ing investor confidence and a 'good business climate'; and policy agen-
das such as free trade, privatization, flexible labour markets and urban
territorial competitiveness continue to be taken for granted. In this scen-
a rio , a s B o n d (2 0 0 9 : 193) a rg u e s, th e m ost lik e ly o u tc o m e o f th e c u rre n t
geo-economic crisis is a 'r e l e g i t i m i s e d neo-liberalism and imperialism'.
C o n s e q u e n tly , th e re is a fu rth e r e n tre n c h m e n t of m a rk e t-d is c ip lin a ry
regulatory arrangements, lubrication of neo-liberalized systems of inter-
ju ris d ic tio n a l p o lic y tra n s fe r, and e n tre n c h m e n t o f n e o -lib e ra liz e d fo rm s
o f re g u la to ry e x p e rim e n ta tio n .
In a second scenario, disarticulated c o u n t e r - n e o - l i b e r a l i z a t i o n , a new
constitutionalist, neo-liberalized rule-regime and associated systems of
p o lic y tra n s fe r p e rs is t, b u t m e a n w h ile th e g lo b a l e c o n o m ic c ris is o ffe rs n e w
strategic opportunities, albeit within relatively dispersed politico-institu-
tional arenas, for social forces concerned to promote market-restraining
o r m a rk e t-tra n s c e n d in g re g u la to ry s tra te g ie s . E ven p rio r to th e 2 0 0 8 -1 2
g lo b a l fin a n c ia l c ris is , th e re had been p le n ty o f o rg a n iz e d o p p o s itio n to
neo-liberal policies by workers' movements, peasant movements, urban
movements, various strands of the anti-globalization movement and, in
some cases, by official social democratic, communist and populist pol-
itic a l p a rtie s . T h e re w ill b e n e w s tra te g ic o p e n in g s fo r su c h s o c ia l m ove-
ments and political organizations to pursue market-restraining agendas
in the future. In this scenario, however, such c o u n t e r - n e e - l i b e r a l i z i n g
p ro je c ts re m a in d is a rtic u la te d - th e y a re la rg e ly c o n fin e d to lo c a liz e d
o r n a tio n a liz e d p a ra m e te rs w h ile s till b e in g em bedded w ith in g e o -in s ti-
tu tio n a l c o n te x ts th a t a re d o m in a te d by m a rk e t-d is c ip lin a ry re g u la to ry
a rra n g e m e n ts and p o lic y -tra n s fe r n e tw o rk s . C le a rly , th e e x p e rim e n ts
associated with disarticulated forms of counter-neo-liberalization are a
s tra te g ic a lly e s s e n tia l fro n tie r fo r e x p lo rin g a lte rn a tiv e s to a n e o -lib e r-
alized g e e - e c o n o m i c order. But, unless they are interconnected across
places, territories and scales, and linked to institutional r e c a l i b r a t i o n s ,
such initiatives confront systemic constraints that may undermine their
m e d iu m -to -Io n g -te rm re p ro d u c ib ility , th e ir c a p a c ity fo r in te rs p a tia l gen-
eralization will be circumscribed.
 V a r i e g a t e d n e e -lib e ra liz a tio n 141

U nder a th ir d s c e n a r io , o r c h e str a te d c o u n te r-n c o -lib e ra liz a tio n , m ar-

k e t-r e s tr a in in g r e g u la to r y e x p e r im e n ta tio n n o lo n g e r o c c u r s in is o la tio n ,
a s r e la tiv e ly s e lf-e n c lo s e d 'o u tp o s ts ' o f d is s e n t, b u t is r e c u r s iv e ly in te r -
c o n n e c te d across p la c e s , te r r ito r ie s a n d s c a le s . U n d e r th e se c o n d itio n s ,
th e r e a r e s u s ta in e d e ffo r ts to c r e a te a n ti-s y s te m ic n e t w o r k s o f k n o w le d g e
sh a rin g , p o lic y tra n sfe r and in stitu tio n b u ild in g a m o n g st d iv e rse site s
o f c o u n te r-n c o -lib e ra l m o b iliz a tio n . T h is s c e n a r io m ay assu m e a s ta tis t
fo r m - fo r in s ta n c e , a c o a litio n o f n e e -K e y n e sia n , s o c ia l d e m o c r a tic or
e c o -s o c ia lis t g o v e r n m e n ts. I t m a y a ls o a s s u m e a m o v e m e n t-b a s e d fo r m -
fo r in s ta n c e , th a t o f th e W o r ld S o c ia l F o r u m , w ith its p r o je c t o f c r e a tin g
an a lte r n a tiv e n e tw o r k of p r o g r e s s iv e p o lic y tr a n sfe r . W h e th e r sta te -
d r iv e n o r m o v e m e n t-le d , su ch n e tw o r k s g a in s ig n ific a n c e and becom e
in c re a sin g ly w e ll c o o rd in a te d in th is sc e n a rio , p o ssib ly le a d in g to th e
d e v e lo p m e n t o f n e w , so lid a ristic and e c o lo g ic a lly sa n e v isio n s fo r g lo -
b a l e c o n o m ic re g u la tio n a n d in te rsp a tia l re la tio n s. T h e c re a tio n o f tra n s-
n a tio n a l n e tw o r k s fo r p o lic y tr a n s fe r w a s e s s e n tia l to th e c o n s o lid a tio n ,
r e p r o d u c tio n a n d e v o lu tio n o f n e o -lib e ra liz a tio n , a n d s u c h n e tw o r k s w ill
b e e q u a lly e sse n tia l to a n y p ro ie c r(s) th a t a sp ire to d e sta b iliz e m a rk e t-
d isc ip lin a ry g e o -re g u la to ry a rra n g e m e n ts. In th e sc e n a rio o f o rc h e s-
t r a t e d c o u n te r-n c o -lib e ra liz a tio n , h o w e v e r , th e in c r e a s in g ly c o o r d in a te d
c o u n te r-n e o -lib e ra liz in g p o lic y tra n sfe r n e tw o rk s still la c k th e c a p a c ity
to in filtra te th e e c h e lo n s o f g lo b a l p o litic a l-e c o n o m ic p o w e r, su c h as
m u ltila te ra l a g e n c ie s, su p ra n a tio n a l tra d in g b lo c s a n d p o w e rfu l n a tio n a l
g o v e rn m e n ts. C o n se q u e n tly , e v e n th o u g h th e n e o -lib e ra liz e d g lo b a l ru le -
r e g im e m a y b e d e s ta b iliz e d , it s u r v iv e s in ta c t.
C a n a n a lte rn a tiv e g lo b a l ru le -re g im e b e fo rg e d ? U n d e r a fo u rth sc e n -
a r io , p r o g r e s s iv e (o r s o lid a r is tic , o r s o c ia lis t) new c o n s titu tio n a lis m , th e
n e o -lib e ra liz e d g lo b a l ru le -re g im e is su b je c te d to g re a te r p u b lic sc ru tin y
and p o p u la r c ritiq u e . S u b se q u e n tly , th e in h e rite d in stitu tio n a l fra m e -
w o rk s o f n e w c o n stitu tio n a lism a re in filtra te d b y so c ia l fo rc e s a n d p o l-
itic a l a llia n c e s o rie n te d to w a rd m a rk e t-re stra in in g a g e n d a s. T h e se m ig h t
in c lu d e c a p ita l and exchange c o n tro ls; debt fo rg iv e n e ss; p ro g re ssiv e
ta x re g im e s; n o n -p ro fit-b a se d , c o o p e ra tiv e ly ru n , d e -g lo b a liz e d c re d it
sch em es; in te n s ifie d g lo b a l r e d is tr ib u tio n ; p u b lic w o r k s in v e s tm e n ts ; a n d
th e d e -c o m m o d ific a tio n o f b a sic s o c i a l n e e d s s u c h a s s h e l t e r , w a t e r , t r a n s -
p o rta tio n , h e a lth c a re a n d u tilitie s. O u t o f th e a sh e s o f th e n e o -lib e ra liz e d ,
new c o n s titu tio n a lis t g lo b a l r u le -r e g im e em erges a n a lte r n a tiv e , s o c ia l
d e m o c ra tic , so lid a ristic a n d /o r e c o -so c ia list m odel o f g lo b a l re g u la tio n .
The su b sta n tiv e p o litic a l c o n te n t o f su c h a ru le -re g im e is - in d e e d , has
lo n g b e e n - a m a tte r o f in te n se d e b a te w ith in th e g lo b a l le ft (se e , fo r
e x a m p le , A m in 2009; G o rz 1 9 8 9 ; H o llo w a y 2 0 0 2 ). B u t o n e o f its c o re
e le m e n ts w o u ld be a ra d ic a l d e m o c ra tiz a tio n o f d e c isio n -m a k in g and
 142 N Brenner et a l.

a llo c a tio n c a p a c itie s - a p r o sp e c t th a t sta n d s in sta r k c o n tr a st to th e p r in -

c ip le s o f m a r k e t d is c ip lin e a n d c o r p o r a te r u le o n w h ic h n e o - lib e r a liz a tio n
has been based.

C o n c lu s io n s

The new c o n s titu tio n a lis t/n e o - I ib c r a liz e d r u le -r e g im e has been m ore
th a n th r e e decades in th e m a k in g , a n d th r o u g h o u t th is p e r io d , it h a s
been in a p e r p e tu a l sta te o f c o n te sta tio n a n d r e c o n str u c tio n . W hat has
n o t k ille d it, o n e m ig h t s a y , h a s m a d e it s tr o n g e r . C e r ta in ly , c o u n te r - n e o -
lib e r a liz in g r e g u la to r y e x p e r im e n ts r e m a in s tr a te g ic a lly c r u c ia l. B u t in
th e a b s e n c e o f o r c h e s tr a te d n e tw o r k s o f c o u n te r - n e o - lib e r a liz in g p o lic y
tr a n s f e r , th e y a r e lik e ly to r e m a in c o n f in e d w ith in p a r tic u la r p la c e s a n d
sc a le s. J u st a s im p o r ta n tly , th e c o n str u c tio n o f c o u n te r -n e o -lib e r a liz in g
sy ste m s o f p o lic y tr a n sfe r , w h e th e r a m o n g st so c r a r ID o v e m e n ts:c 1 tie s,
r e g lO n s o r sta te s, r e p r e se n ts a m a jo r ste p fo r w a r d fo r p r o g r e ssiv e a c tiV ists
~ y '! ! ! a k e r s . B u t, in th e a b s ~ of i p la u s ib le v is io n f o r a n a lte r -
n a tiv e g lo b a l r u le -r e g im e , su c h n e tw o r k s a r e lik e ly to r e m a in in te r stitia l,
m e r e ir r ita n ts to th e g lo b a l m a c h in e r y o f n e o - lib e r a liz a tio n , r a th e r th a n
'tr a n slo r ifia tiv e th r e a ts to its h e g e m o n ic in flu e n c e .
O u r r e a d in g o f th e n e a r - te r m p r o s p e c ts s u g g e s ts th a t th e n e o - lib e r a l
p o w e r g r id is a lr e a d y b e c o m in g m a r k e d ly m o r e m u ltip o la r th a n in th e
p a st, w ith a sc e n d a n t g lo b a l p o w e r s - fr o m B e l)lllg to M o sc o w - a sse r tin g
th e ir o w n ( m a r k e t) in te r e s ts w ith in e n la r g e d r e g u la to r y a r e n a s s u c h a s th e
G r o u p o f 2 0 . T h is r a is e s th e q u e s tio n o f w h e th e r th e w o r ld w id e r u le s o f
fin a n c ia l tr a n sa c tio n s, m o n e ta r y exchange a n d tr a d e , a s c u r r e n tly regu-
la te d th r o u g h s u c h in te r n a tio n a l f o r a a n d th r o u g h th e m u ltila te r a l f in a n -
c ia l in s titu tio n s , w ill b e q u a lita tiv e ly r e f o r m e d in w a y s th a t c o n te s t th e ir
e a r lie r , p r o -m a r k e t ~ntatlon, o r w n e th e r th e y w Ill m e r e ly b e a d ju ste d o r
'r e c o n s titu te d m ~s th a \..E ! '~ e tu a te s u c h ' a ,to r T e n ta r lo n { B o n 'C Z 0 0 9 ) .
H ; ; f a r th e r u le s w ill c h a n g e w h e ;;"n e w p la y e r 's jo in th e g a m e c a n n o t b e
p r e d ic te d a t th is p o in t, th o u g h so m e fo rm o f a d a p tiv e c h a n g e C a t le a s t)
se e m s c e r ta in . T h e m o m e n t o f sy ste m ic c r isis n o w h a v in g p a sse d , it m a y
b e th a t th e p r o s p e c ts o f tr a n s f o r m a tiv e r e g u la to r y change a r e lik e w is e
r e c e d in g . S o b e r in g ly , th is m u s t b e c o n f r o n te d a s a f a ilu r e o f a lte r n a tiv e
v isio n s a n d m o v e m e n ts - a s w e ll a s te stim o n y to th e d o g g e d n e ss of neo-
lib e r a l r u le a n d its a lig n m e n t w ith p r e v a ilin g p o w e r s tr u c tu r e s . T h e c o n -
tr a d ic tio n s a n d lim its o f m a r k e t-b a se d r e g u la tio n p e r sist, h o w e v e r , even
if th e r e g u la to r y la n d s c a p e is , f o r th e m o m e n t a t le a s t, d e s ta b iliz e d . T h e
c h a lle n g in g q u e stio n th a t r e m a in s, th e n , c o n c e r n s n o t o n ly w h a t p r o g r e s-
siv e a lte r n a tiv e s to n e o -lib e r a lism a n d n e w c o n stitu tio n a lism m ig h t lo o k
lik e b u t a ls o w h a t it w ill ta k e f o r a lte r n a tiv e s to b ite ?