A tale of two economies: the political and the moral in neoliberalism

Abstract

Purpose

This article aims to critically explore current forms of neoliberalism and their impact upon the moral economy. The authors examine how the dominant neoliberal political economy impacts upon three overlapping registers: individual subjectivity, national reconstructions and organizational transformations. These three registers are fashioned by, and subsequently help to reproduce, the contours of the prevailing politico-economic system. The market-driven ethic of neoliberalism, however, is diametrically opposed to that of a moral economy concerned with universalism and equality in meeting human need.

Design/methodology/approach

This is a conceptual theoretical piece.

Findings

The result is that the latter have been replaced by competitive individualism as societies reconstruct themselves in the image of the market place. This profound cultural shift is well known, but in this article, the authors will claim that it has in turn had a profound impact upon individual subjectivities and the key institutions and organisations that have long formed the basis of the Western social democratic consensus.

Originality/value

It is original because it theorises the impact of neoliberalism on organisations.

Citation

Whitehead, P. and Crawshaw, P. (2014), "A tale of two economies: the political and the moral in neoliberalism", International Journal of Sociology and Social Policy, Vol. 34 No. 1/2, pp. 19-34. https://doi.org/10.1108/IJSSP-09-2012-0082