The Ethics of Neoliberalism The 21st century is the age of “neo-liberalism”—a time when the free market is spreading to all areas of economic, political and social life Yet how is this changing our individual and collective ethics? Is capitalism also becoming our new morality? From the growing popular demand for corporate social responsibility to personal desire for “work-life balance,” it would appear that nonmarket ideals are not only surviving but also thriving Why then does it seem that capitalism remains as strong as ever? The Ethics of Neoliberalism boldly proposes that neoliberalism strategically co-opts traditional ethics to ideologically and structurally strengthen capitalism It produces “the ethical capitalist subject” who is personally responsible for making their society, workplace and even their lives “more ethical” in the face of an immoral but seemingly permanent free market Rather than altering our morality, neoliberalism “individualizes” ethics, making us personally responsible for dealing with and resolving its moral failings In doing so, individuals end up perpetuating the very market system that they morally oppose and feel powerless to ultimately change This analysis reveals the complex and paradoxical way capitalism is currently shaping us as “ethical subjects.” People are increasingly asked to ethically “save” capitalism both collectively and personally This can range from the “moral responsibility” to politically accept austerity following the financial crisis, to the willingness of employees to sacrifice their time and energy to make their neoliberal organizations more “humane,” to the efforts by individuals to contribute to their family and communities despite the pressures of a frenetic global business environment Neoliberalism, thus, uses our ethics against us, relying on our “good nature” and sense of personal responsibility to reduce its human cost Ironically, in the new millennium, it seems the more ethical we are, the stronger capitalism becomes Peter Bloom is a lecturer in the Department of People and Organisations at the Open University, UK Routledge Studies in Business Ethics For a full list of titles in this series, please visit www.routledge.com Originating from both normative and descriptive philosophical backgrounds, business ethics implicitly regulates areas of behaviour which influence decision making, judgment, behaviour and objectives of the leadership and employees of an organization This series seeks to analyse current and leading edge issues in business ethics, and the titles within it examine and reflect on the philosophy of business, corporations and organizations pertaining to all aspects of business conduct They are relevant to the conduct of both individuals and organizations as a whole Based in academic theory but relevant to current organizational policy, the series welcomes contributions addressing topics including: ethical strategy; sustainable policies and practices; finance and accountability; CSR; employee relations and workers’ rights; law and regulation; economic and taxation systems Ethics and Morality in Consumption Interdisciplinary Perspectives Edited by Deirdre Shaw, Andreas Chatzidakis and Michal Carrington Truth in Marketing A Theory of Claim-evidence Relations Thomas Boysen Anker 10 Mismanagement, “Jumpers,” and Morality Covertly Concealed Managerial Ignorance and Immoral Careerism in Industrial Organizations Reuven Shapira 11 Restructuring Capitalism Materialism and Spiritualism in Business Rogene A Buchholz 12 The Ethics of Neoliberalism The Business of Making Capitalism Moral Peter Bloom The Ethics of Neoliberalism The Business of Making Capitalism Moral Peter Bloom First published 2017 by Routledge 711 Third Avenue, New York, NY 10017 and by Routledge Park Square, Milton Park, Abingdon, Oxon OX14 4RN Routledge is an imprint of the Taylor & Francis Group, an informa business © 2017 Taylor & Francis The right of Peter Bloom to be identified as author of this work has been asserted by him in accordance with sections 77 and 78 of the Copyright, Designs and Patents Act 1988 All rights reserved No part of this book may be reprinted or reproduced or utilised in any form or by any electronic, mechanical, or other means, now known or hereafter invented, including photocopying and recording, or in any information storage or retrieval system, without permission in writing from the publishers Trademark notice: Product or corporate names may be trademarks or registered trademarks, and are used only for identification and explanation without intent to infringe Library of Congress Cataloging-in-Publication Data A catalog record for this book has been requested ISBN: 978-1-138-66724-2 (hbk) ISBN: 978-1-315-61901-9 (ebk) Typeset in Sabon by Apex CoVantage, LLC “To Tomas—the world is yours to change” Contents Acknowledgments The Paradox of Neoliberal Ethics ix Producing the “Ethical” Capitalist Subject 19 The Ethical Power of Neoliberalism 37 The Political Power of Neoliberal Ethics 55 The Institutional Power of Neoliberal Ethics 75 The Personal Power of Neoliberal Ethics 95 The Subjective Power of Neoliberal Ethics 115 Fighting the Power of Neoliberal Ethics 135 9 The Ethics of Neoliberalism: The Business of Making Capitalism Moral 155 References Index 175 211 Acknowledgments I’m no longer accepting the things I cannot change. . .  I am changing the things I cannot accept —Angela Davis This book was written in the hope of discovering a more radical and liberating way of ethically being in the world I am supremely grateful for all the wonderful people who have intellectually and personally contributed to the completion of this project Specifically, I would like to thank all those in the Department of People and Organisations at the Open University who have supported me and served as valuable sources of insight I would also like to extend my gratitude to the Ideology and Discourse Program at the University of Essex as well as the People, Organisations and Work group formerly at Swansea University for their inspiration I also want to thank David Varley and everyone at Routledge who made this work possible Personally, I would also like to thank my family and friends: in particular, my parents, Martin Bloom and Phyllis Bloom, as well as Sara Cowan Bane and Fred Bane; 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institutional 83 – 5, 88, 93; personal 11, 50, 53, 83, 93, 112 – 13, 171 Adolf, M. 126 Agger, B. 100 Allen, N. 62 Allier Montaño, E. 164 Althusser, L 33, 73 American entrepreneur, mythical heroic 128 Annan, K 65 – 6 anti-ethical neoliberal subjects 143 – 4 anti-ethical resistance 139 – 41 anti-globalization movements 2, 81 – 2, 157, 159 antipoverty movements 150 anti-statism 26 – 7 Arab Spring 15 Aune, J A. 98 austerity policies 5, 17, 56 – 7, 67 – 70, 83 – 4,  160 Austrian school 8 authoritarianism, popular 52 – 3, 118, 146 – 7 autonomy, responsible 50 baby-boomers 104 balance of work and life 3, 13 – 14, 87, 90 – 1, 100, 123, 141 Barber, B R. 98 Bauman, Z. 106 Biebricher, T. 7 “Big Brother” images 7 Big Government 112, 135 Binkley, S. 99 “bio-morality” companies 91 Birch, S. 62 Blair, T 58 – 9 Bloom, P 119 – 20, 164 Boltanski, L. 35 bottom-up self-regulation 151 – 3 Boutillier, S. 128 Brexit referendum 143, 145 Brown, G. 116 Brown, W 2, 68 bureaucracy 80, 170 Bush, G W 59, 98 business ethics 10 – 11, 46 Butler, J P. 35 Cambodia 162 capitalism: agency of 29 – 32; boom-and-bust dynamic of 41, 57 – 8; building better world and 164 – 5; business of making moral 170 – 4; conservative 10; contradictions of 157; corporeal disciplining and 31; critical morality of 20 – 3; criticisms of 157; culture of 96 – 7; defining 170; demands of, competing 155; “double movement” of history of 168; durability of 34; economic inequality and 2, 22; ethical 71 – 2, 161; ethical agency of 29 – 32; ethical malleability to 20; ethical neoliberal subject and, producing 17, 34 – 6, 162; ethical politics of 26 – 9; ethics and 19 – 20, 23 – 6, 37; financial crisis (2008) as challenge to 2; free market and 20; government and 59; government intervention and 26 – 7, 64, 73; Gramsci and 29 – 30; green 71, 150; hegemony and 29 – 30, 143; humanity’s survival and prosperity and 174; hyper-capitalist order and fate of 166; imperialism and 21 – 2; individuals and community and 96; 212 Index industrialization and 21; innovation and 172; labor and 110, 171 – 2; market fantasies and 30 – 1, 115; marketization and 1; Marx and 149, 157, 171; modernization and 21; moral 138, 141 – 2, 162; morality and 1, 13, 20 – 4, 45 – 7; moralization of 120 – 1, 168 – 9; nationalism and 97; neoliberalism and 5, 17, 168 – 70, 173 – 4; political ethics and 39 – 41; political responsibility and 64; power relations and 52; privatization and 1, 168 – 9; problematization of 37 – 43, 45 – 6, 51, 56, 123 – 4; profit and 1, 9, 11 – 13, 15 – 16, 20, 22, 25, 34, 37, 80 – 1, 83, 118, 155, 170 – 1; progress and 39 – 42; saving, ethically 17, 58, 153, 157 – 60; self-colonization process and 25; social legitimation of 124 – 5; solving problem of 170 – 4; “spatial fix” of 34; “spirit” of 35; state authority and 26 – 7; success of 36, 125 – 6; triumph over Communism and 11 – 12, 15; ubiquity of 1; unbridled 11; see also capitalist ethics; “fixing” capitalism capitalist care ethos 158 capitalist ethics: agency of capitalism and 29 – 32; capitalist subject and 17, 34 – 6, 162; “competitive order” and 27; critical morality of capitalism and 20 – 3; diagnostic power and 32; empowering 161; ethics-capitalism relationship and 19 – 20; “fixing” capitalism and 32 – 4; historical perspective 23 – 6; new, forming of 24 – 5; paradox of 30; politics of 26 – 9; psychic safety of investing in 135; reforming discourse and 33 – 4; self-colonization process and 25; solving problems and 42 – 3; urgency of 19 capitalist government 47 capitalist labor 110, 171 – 2 capitalist politics 58 Carter, J 45, 65 cashless economy 117 Cederstrom, C 107, 119 – 20, 126 – 7 Changefoot, N. 150 Chartered Management Report (2008) 14 Chaudhry, K A. 8 Chiapello, E. 35 Chicago school 8 China 103 civic engagement 111 – 12 Clarke, S 110 – 11 class divisions 104 – 5 Clegg, S. 80 Clinton, B. 49 Cold War 11, 43 colonialism, European 21 – 2 Communism 7, 9, 11 – 12, 15, 42 – 3, 48, 97, 116, 149 compassion 156 competition and competiveness 12, 45, 63, 77, 109 “competitive order” 27 “conduct of conduct” concept 158 conservatism 10, 43, 99 constructive deviance 129 consumerism 10, 100, 102 Contu, A. 139 corporate citizenship 85 corporate humanism 76, 87 corporate social responsibility (CSR) 3, 46 – 7, 50, 88 – 9 corporatization of society 75 – 6, 98 corruption, political 62 – 3 Costas, J 105 – 6, 130 Courpasson, D. 80 Crary, J. 99 creative destruction 172 Cremin, C 106, 130 criminology 44 crisis culture 117 – 18 “crisis of faith” 106 crisis of marketing morality 10 crisis of neoliberalism: ethical 136 – 8; existential 96 – 8, 136; institutional 76 – 9; political 55, 57 – 60; subjective 116 – 19 crowd funding 111 cyber-hedonism 141 Davies, W 16, 137 debt morality 68 – 9, 171 “decaf resistance” 139 DeKeseredy, W S. 104 democracy 41, 62, 69, 138, 164 Derrida, J. 164 dialectics 149 discursive hegemony 30 “double movement” of capitalist history 168 Dupuy, J.-P. 166 Index  213 economic inequality 2, 22, 56, 79 – 81 economic justice 70 – 1, 73 – 4 efficiency 12, 79 – 81 elite: conservative 67; ethical responsibility of 46, 50, 52, 65; financial 3, 44, 55 – 7; financial crisis (2008) and 55, 57 – 60, 67; freedom and advantages for 122, 146, 172; global 161; in Great Britain 63; hostility toward 145 – 6, 153; Keynesian thinking and 3 – 4; leadership and 126; liberalism and 65; manipulation by 97; neoliberalism and 3, 52, 72, 74, 97, 136 – 7, 144, 156; in Netherlands 58; paranoia about 144; political 145, 153; power relations and 72, 113; saving capitalism and 153; in Soviet Union 62 Elliott, J. 143 employability 12 – 13, 45, 51 empowerment 48 – 9, 53, 153, 170; see also power relations Engels, F. 40 entrepreneurship 2, 12 – 13, 15, 24 – 5, 128 – 9, 141,  161 Esposito, K. 108 ethical capitalism 71 – 2, 161 ethical labor 171 – 2 ethical neoliberal subjects: capitalism and producing 17, 34 – 6, 162; empowerment of 48; institutionally, producing 86 – 9; neoliberal ethics and, producing 48 – 51; new radicalized version of 150; personally, producing 105 – 9; politically, producing 66 – 70; subjective, producing 124 – 8 ethical problem see “fixing” capitalism; problematization; solving problems “ethical” self 35 ethical value 2 ethics: business 10 – 11, 46; capitalism and 19 – 20, 23 – 6, 37; of care 2; end of neoliberal history and 167; free market and 168; hyper-capitalist order and 135, 137 – 40, 166, 170 – 3; identity and 166; market 9 – 11, 25, 96; marketization of 12 – 13; morality and, discussions of 115; nonmarket 13 – 17, 20, 97, 124, 150, 153; openness and 163; organizational 76; personal 17; politics and 60 – 1; prioritization of 166 – 7; privatization of 45 – 6; problematization and 161 – 2; see also capitalist ethics; neoliberal ethics eugenics, politics of 42 eurozone crisis of Greece 69 – 70 failed identification 124, 129 – 30 Farage, N. 145 female liberation 44 feminism, neoliberal 108 Ferguson, J 77, 173 Ferrell, O C. 46 financial crisis (2008): austerity policy and 67 – 8; blame for 102; capitalism and, challenge to 2; cyber-hedonism and 141; elite and 57 – 60, 67; financialization and 81; government and 56 – 7; individual power of neoliberal ethics and 98, 102; institutional power of neoliberal ethics and 78 – 9, 81; marketization and 19, 81; negative impact of 57, 82; neoliberalism and 55, 57 – 60, 67, 79, 117, 149 – 50; subjective power of neoliberal ethics and 117 financialization: Blair and 58 – 9; developed economies and 58; financial crisis (2008) and 81; globalization and 165; hyper-capitalist order and 163; increase in 20; negative impact of 109, 132; neoliberalism and 20, 60, 71, 74, 121 – 2, 136, 169; solving problem of 71 financial value 2 fiscal responsibility 50 – 1, 69, 84 – 6, 90, 160 – 1 fiscal social responsibility 71 – 2 Fisher, M. 157 “fixing” capitalism: business of 170 – 4; capitalist ethics and 32 – 4; concept of 34; democracy and 41; institutional power of neoliberal ethics and 91 – 2; liberalism versus neoliberalism and 64; need for continual 37 – 9; neoliberal ethics and 157 – 60; neoliberalism and 49, 61, 64, 66; paradox of freedom and 91 – 2; solving problem of 34, 72; spatial 34; subjective responsibility for 124; urgency of 174 Fleming, P 105 – 6 214 Index Forkert, K. 69 Foucault, M 31 – 3, 35, 140, 158, 170, 173 France 25 freedom, paradox of 91 – 2 free market: capitalism and 20; contradiction of 172; ethical vision of 11; ethics and 168; fantasies 30 – 1, 115, 119 – 20, 125, 129, 163 – 4; framing of 43; “gilded” eras of 44; globalization and 61; individual power of neoliberal ethics and 98, 100; instability and, global 59 – 60; limits of 156 – 7; maintaining 17, 155, 160; morality and 100, 141, 165; myth of 100; negative impact of 125; neoliberalism and 16, 95; political corruption prevention and 62; profit and 65, 71, 160, 165; self-regulating 56; unethical, as enemy 140, 143 Frenkel, S. 87 Friedman, M 3, 9 fundamentalism 98 – 9 generational divide 103 – 4 gig economy 152 Gilbert, J. 73 globalization: benefits of 60; corporate 38, 49, 55, 74, 81, 85, 106, 113, 154; employability and 13; financialization and 165; free market and 61; government and 72, 160; inevitability of 38, 48, 83, 113; marketization and 37, 165; millennials and 103; movements against 2, 81 – 2, 157, 159; negative impact of 28, 85, 88, 106, 147, 159, 162; neoliberalism and 61, 74, 147, 154; privatization and 160, 165; regulation and 11; tribalism and 147 “good enough governance” 71 Gordon, T. 40 government: Big 112, 135; capitalism and 59; capitalist 47; economic reform and 40 – 1, 56; financial crisis (2008) and 56 – 7; globalization and 72, 160; “good enough” 71; intervention 26 – 7, 64, 73; neoliberalism and 5 – 6, 8, 11; poverty and 65 – 6; private 6, 8; profit and 57; regulation 6 – 8, 11, 151 – 3, 168 – 9; sovereignty and 40 – 1; “watchman” approach to 5 – 6 Graeber, D 169 – 71 Gramsci, A 28 – 30 Grassman, R 126 – 7 Great Britain 63 Greece eurozone crisis 69 – 70 greed 9 – 10, 13, 19, 40 green capitalism 71, 150 green market 20 “greenwashing,” corporate 47 Gresham, L G. 46 Grey, C. 130 Grindle, M S. 71 Habermas, J. 24 happiness 16, 99, 113 Harris, A. 151 Harvey, D 34, 75, 160 – 1, 172 Hayek, F 3, 6, 9, 27, 166 Hegel, G W. 149 hegemony 29 – 30, 33, 143 Hobbes, T. 96 Hoover, K R. 10 Howarth, D J. 30 Hutton, W. 87 hyper-capitalist order: capitalism’s fate and 166; ethics and 135, 137 – 40, 166, 170 – 3; financialization and 163; fixing, demand for 142; free market fantasies and 163; happiness and 99; individual power of neoliberal ethics and 96, 109, 112; legitimacy of, temporary 120; marketization and 93, 163; Marx and 95; morality and 66, 135; neoliberal ethics and 72, 93; neoliberalism and 5, 47, 53, 126 – 8, 133, 149, 153, 156, 169; nonmarket ethics and 124; privatization and 163; subjective power of neoliberal ethics and 116, 119 – 20, 131 identity, neoliberal 133 identity, securing 122 – 4, 129 – 30 ideological state apparatuses 73 – 4 imperialism 21 – 2 “indebted man” 171 individual morality 61 individual power of neoliberal ethics: accountability and 11, 50, 53, 83, 93, 112 – 13, 171; background information 95 – 6; balance of work and life and 100; bleak outlook of society and 100 – 2; civic engagement and 111 – 12; class divisions and 104 – 5; consumerism Index  215 and 100, 102; culture of capitalism and 96 – 7; existential crisis of neoliberalism and 96 – 8; feminism and, neoliberal 108; financial crisis (2008) and 98, 102; free market and 98, 100; generational divide and 103 – 4; happiness and 99, 113; hyper-capitalist order and 96, 109, 112; interpersonal relations and 111; market society and 97 – 8, 102; mindfulness and 109 – 10; personally ethical neoliberal subject and, producing 105 – 9; power relations and 99, 112 – 13; problematization of neoliberal individuals and 98 – 102, 161; responsibility for neoliberal individual and 102 – 5; saving capitalism and 159 – 60; self-alienation and 105 – 6; self-help and 107 – 9; self-improvement and 109 – 10; solving problem of neoliberal individual and 109 – 12; spiritual fulfillment and 101; urban and rural divide and 104; War on Terror and 98; “wellness syndrome” and 107 – 8 Industrial Revolution and industrialization 21, 33, 39 – 40 inequality, economic 2, 22, 56, 79 – 81 innovation 77, 172 institutional power of neoliberal ethics: accountability and 83 – 5, 88, 93; background information 75 – 6; balance of work and life and 87, 90 – 1; bio-morality companies and 91; challenges to corporations and 81 – 3; corporate citizenship and 85; corporate humanism and 76, 87; corporate social responsibility and 88 – 9; corporatization of society and 75 – 6; dehumanizing cultures and 79 – 80; digital advances and 87 – 8; efficiency and 79 – 81; financial crisis (2008) and 78 – 9, 81; fiscal responsibility and 84 – 6; “fixing” capitalism and 91 – 2; human-centered culture and 86 – 90; institutional crisis of neoliberalism and 76 – 9; institutionally ethical neoliberal subject and, producing 86 – 9; “lean organization” philosophy and 78 – 9, 86 – 7; managerial power and 93 – 4; moral communities and, institutions framed as 86; moralization of profit and 84 – 7, 94; morally responsible corporation and 88 – 9, 93 – 4; organizational responsibility/ accountability and 84 – 5; paradox of freedom and 90 – 2; post-bureaucracy and 77, 80, 87 – 8; power relations and 92 – 4; problematization of neoliberal institutions and 79 – 83; problem-solving culture and 90; responsibility for neoliberal institutions and 83 – 6; self-management ethos and 91 – 2; solving problem of neoliberal institutions and 89 – 92; “whole person” concept and 91 interpersonal relations 111 “invisible hand” 6 Isin, E F. 24 Jameson, F 1, 157 Jews, demonization of (1930s) 144 Jones, C 122 – 3 Jones, P. 46 justice 70 – 1, 73 – 4,  130 Kasser, T. 102 Keynesian thinking 3 – 4, 29 – 30,  116 Kline, N. 109 labor: capitalist 110, 171 – 2; ethical 171 – 2; “free” market of 23; French 25; problematization of neoliberal institutions and 83; struggles 44, 56; sweatshop 128; wage 8, 21, 27, 32, 37, 124 labor unions 9, 44 Lacan, J 119, 122, 132, 167 Larner, W. 1 Lazzarato, M 68, 171 leadership 2, 126 “lean organization” philosophy 78 – 9, 86 – 7 Leslie, I. 145 liberal cynicism 136 liberalism 64 – 5 life-work balance 3, 13 – 14, 87, 90 – 1, 100, 123, 141 Malik, K. 145 Maravelias, C. 93 market: economy 12; ethics 9 – 11, 25, 96; governance 47; green 20; rationality 12, 115, 119 – 20; society 97 – 8, 102; see also free market 216 Index marketization: capitalism and 1; ethical form of 97; of ethics 12 – 13; financial crisis (2008) and 19, 81; globalization and 37, 165; hyper-capitalist order and 93, 163; morality and 7 – 10, 48; negative impact of 44, 52, 132, 165; neoliberalism and 1 – 3, 5, 8, 10, 13, 20, 37 – 9, 43, 45, 48, 121 – 2, 136, 169; nonmarket ethics and 17, 20; questions about 60; rise of 1; solving problem of 71 Marxism 28, 64, 155 – 6 Marx, K 33, 95, 149, 151, 157, 171 Mason, P 117, 152 mass consumption 10 “me, me, me generation” 103 microcredit entrepreneurship 161 millennials 103 Miller, P. 158 Mills, C W. 99 mindfulness 109 – 10, 131, 141, 150 – 1 Mitrea, S. 68 Monbiot, G. 109 morality: capitalism and 1, 13, 20 – 4, 45 – 7; debt 68 – 9, 171; ethics and, discussions of 115; free market and 100, 141, 165; hyper-capitalist order and 66, 135; imperialism and 21 – 2; individual 61; marketization and 7 – 10, 48; neoliberalism and 3 – 7, 135; “public” 24; self-interest and 155 – 6 “moral” leader 126 “moral masochism” 127 moral subversion 129 Morgan, C L 22 – 3 Music, G 101 – 2 nationalism 97, 101 nativism 147 neo-classical perspective 4 neoconservatism 97 – 8 neoliberal ethics: corporate social responsibility and 3, 46 – 7, 50; danger of 169, 173; defining 155; empowerment and 53; ethical neoliberal subject and, producing 48 – 51; expansion of 37 – 8; fiscal responsibility and 50 – 1; “fixing” capitalism and 157 – 60; free market fantasy and 163 – 4; historical perspective 38 – 43; hyper-capitalist order and 72, 93; individual power of 112 – 13; institutional power of 92 – 4; morally resisting 144 – 8; morally responsible capitalism and 45 – 7; neoliberalism-ethics relationship and 37 – 8; overview 3, 17, 155 – 7, 167 – 70; paradox of 15 – 17, 47 – 8, 52; political power of 72 – 4; portrayal of 37; power of 51 – 3, 153 – 4; problematization of 138 – 42; problematization of capitalism and 37 – 43, 45; problematization of neoliberalism and 43 – 5; promotion of 163 – 4; reframing traditional question of 20; rejection of, spreading 145; resisting 142 – 8, 153 – 4; responsibility for resisting 142 – 4; responsible autonomy and 50; sharing economy and 2; solving problem of 148 – 53; spread of, global 160 – 3; subjective power of 131 – 3 neoliberal feminism 108 neoliberal history, ethical end of 165 – 7 neoliberal identity 133 neoliberalism: actuality of 118 – 19, 142, 156, 159, 163, 167 – 8; apocalyptic undertone to 118; austerity and, refusal to abandon 5; “Big Brother” images and 7; capitalism and 5, 17, 168 – 70, 173 – 4; competition and 63; “conduct of conduct” concept and 158; contradiction of 7 – 8, 38; creative destruction and 172; crisis culture in 117 – 18; cultural dimensions of, emphasis on 5; debt morality and 68 – 9; defining 3, 122; dialectics and 149; economic rationalities of 158 – 9; elites and 3, 52, 72, 74, 97, 136 – 7, 144, 156; end of, ethical 165 – 7; ethical crisis of 136 – 8; ethical fantasy of 136, 138 – 41, 160; ethical innovations and 172 – 3; ethical power of 156 – 7; ethical roots of 8 – 9, 13, 160; existential crisis of 96 – 8, 136; exploitation and 16; financial crisis (2008) and 55, 57 – 60, 67, 79, 117, 149 – 50; financialization and 20, 60, 71, 74, 121 – 2, 136, 169; “fixing” capitalism and 49, 61, 64, 66; free market and 16, 95; free market fantasies and 125, 163 – 4; Friedman and 9; globalization and 61, 74, 147, 154; government and Index  217 5 – 6, 8, 11; historical perspective 3 – 5; hyper-capitalist order and 5, 47, 53, 126 – 8, 133, 149, 153, 156, 169; individual and 95, 112; individual responsibility for 102 – 5; inspiration of 115; institutional crisis of 76 – 9; institutional responsibility for 6, 83 – 6; irony of 15 – 7, 72 – 3; legitimacy of 4, 165 – 6; market ethics and 96; market ethics of 9 – 11, 25; marketization and 1 – 3, 5, 8, 10, 13, 20, 37 – 9, 43, 45, 48, 121 – 2, 136, 169; market rationality and 115, 119 – 20; morality and 3 – 7, 135; moralized subject and 127 – 8; “moral masochism” and 127; neoconservatism and, shift to 97 – 8; nonmarket ethics of 13 – 16; paradox of 47 – 8, 121, 156, 167 – 8, 171; perfecting, ethically 163 – 5; personal ethics and 17; personal responsibility for 6, 102 – 5; political crisis of 55, 57 – 60; political dimensions of, emphasis on 5; political foundations of 6 – 7; political responsibility for 64 – 6; populism and 146 – 7; power relations and 52 – 3, 170; privatization and 5, 8, 20, 43, 45 – 7, 49, 64, 75, 79 – 81, 156; problematization of 43 – 5, 49, 63; profit and 52, 55, 58, 65, 74, 79, 96, 101, 107, 113, 115, 120 – 1, 141; progressive grassroots movement and 148; reframing 169 – 70; regulation and 7; resistance to ethical fantasy of 139 – 41; self-care and 137 – 8, 158; self-interest and 63; self-regulation and 6 – 8; social destruction and 173; socialism and 7; social responsibility and 9; strength of 163; struggle to improve 159 – 60; subjective crisis of 116 – 19; subjective responsibility for 121 – 4; survival of 125; transcending 153 – 4; transformation and, questioning 2 – 3, 77; uses of, exploring 173; utopian spirit of 4 – 5; vitality of 140, 163; “watchman” approach to government and 5 – 6; see also neoliberal ethics neoliberal politics: boom-and-bust cycles and 58; liberal cynicism and 136; political crisis of neoliberalism and 58; problematization of 56, 60 – 3; responsibility for 64 – 6; solving problem of 70 – 2; see also political power of neoliberal ethics neoliberal responsibilization 85 Netherlands, the 58 Niebuhr, R. 102 Nisbet, R A. 39 nonmarket ethics 13 – 17, 20, 97, 124, 150, 153 Obama, B 58 – 60, 106 Occupy Wall Street 15 1 percent’s problems 104 – 5 organizational ethics 76; see also institutional power of neoliberal ethics organizational responsibility/ accountability 83 – 5, 88, 93 Ortner, S B. 31 ownership ethos 172 paradox of freedom 91 – 2 paying it forward concept 111 Perez, F M. 108 personal power of neoliberal ethics see individual power of neoliberal ethics personal responsibility 6, 51 – 3; see also individual power of neoliberal ethics personal wellness 13 – 5 Platman, K. 91 Polanyi, K. 168 political correctness 142 political movements 15, 146; see also specific names political power of neoliberal ethics: austerity policy and 67 – 70; background information 55 – 7; corruption and 62 – 3; debt morality and 68 – 9; economic justice and 70 – 1, 73 – 4; ethical shortcomings and, focus on 56; ethos of responsibility and 56; financial crisis (2008) and 55, 57 – 60; fiscal social responsibility and 71 – 2; fiscal solvency and 70; instability and, global 59 – 60; political crisis of neoliberalism and 57 – 60; politically ethical neoliberal subject and, producing 66 – 70; poverty and 63, 65 – 6; power relations and 72 – 4; problematization of neoliberal politics and 56, 60 – 3; responsibility for neoliberal politics and 64 – 6; solving problem of neoliberal politics and 70 – 2; welfare and 69 218 Index political responsibility 69 politics of empowerment 49 populism, authoritarian 52 – 3, 118, 146 – 7 post-bureaucracy 77, 80, 87 – 8 post-capitalism 152 – 3 post-Marxism 30 Poulantzas, N. 159 poverty 11, 33, 63, 65 – 6, 70, 82 “power elite” see elite power relations: capitalism and 52; elite and 72, 113; individual power of neoliberal ethics and 99, 112 – 13; institutional power of neoliberal ethics and 92 – 4; neoliberalism and 52 – 3, 170; political power of neoliberal ethics and 72 – 4; subjective power of neoliberal ethics and 131 – 3 private government 6, 8 privatization: capitalism and 1, 168 – 9; entrepreneurship and 12, 24 – 5; of ethics 45 – 6; globalization and 160, 165; hyper-capitalist order and 163; increase in 120; Keynesian thinking and 4; negative impact of 81, 109, 165, 169; neoliberalism and 5, 8, 20, 43, 45 – 7, 49, 64, 75, 79 – 81,  156 problematization: of capitalism 37 – 43, 45 – 6, 51, 56, 123 – 4; concept of 32 – 3; ethics and 161 – 2; historical 33 – 4; of individuals, neoliberal 98 – 102, 161; of institutions, neoliberal 79 – 83; of neoliberal ethics 138 – 42; of neoliberalism 43 – 5, 49, 63; of politics, neoliberal 56, 60 – 3; of profit 148 – 9, 158 – 9; of racism 42; of selfhood, neoliberal 119 – 21; see also solving problems profit: capitalism and 1, 9, 11 – 13, 15 – 16, 20, 22, 25, 34, 37, 80 – 1, 83, 118, 155, 170 – 1; ethical responsibility and 64 – 5; executives and 46 – 7; financial crisis (2008) and 67, 79; fiscal responsibility and 50; free market and 65, 71, 160, 165; government and 57; Marx and 157; moralization of 84 – 7, 94, 173 – 4; neoliberalism and 52, 55, 58, 65, 74, 79, 96, 101, 107, 113, 115, 120 – 1, 141; problematization of 148 – 9, 158 – 9 progress 39 – 42 progressive grassroots movement 148 “public” morality 24 Putnam, R D 75 – 6 racism 21 – 2, 42, 105 Reagan, R 4, 10, 43, 65, 97 regulation, government 6 – 8, 11, 151 – 3, 168 – 9 resistance to ethical fantasy of neoliberalism 139 – 41 responsibility: corporate social 3, 46 – 7, 50, 88 – 9; ethos of 56; fiscal 50 – 1, 69, 84 – 6, 90, 160 – 1; fiscal social 71; for individual, neoliberal 102 – 5; for institutions, neoliberal 83 – 6; organizational 84 – 5; personal 6, 51 – 3; political 69; for politics, neoliberal 64 – 6; for resisting neoliberal ethics 142 – 4; social 9; for subject, neoliberal 121 – 4 “responsibilization” 85, 110 responsible autonomy 50 Roberts, J. 132 Rodrik, D 81 – 2 Rose, N. 158 Rothbard, ? 58 Roy, A. 79 Russell, A W. 21 Salsman, R. 83 Sanders, B. 145 Schumpeter, J A. 172 Seib, G. 147 self-alienation 105 – 6 self-care 107 – 8, 138, 158 self-colonization process 25 self-defining discipline 132 self-help 107 – 9,  137 selfhood 119 – 21, 127, 137; see also subjective power of neoliberal ethics self-improvement 109 – 10, 124 – 5,  131 self-interest 63, 109, 155 – 6 self-management ethos 91 – 2 self-regulation 6 – 8, 11, 47, 49 – 50, 151 – 3 Shamir, R. 85 sharing economy 2, 151 – 2 Shiller, R 106 – 7 Silicon Valley 12 Smith, A. 6 Smith, I D. 63 social conservatism 10 Social Darwinism 22 social democracy 41, 65, 169 social destruction 173 Index  219 social entrepreneur 128 – 9, 141 socialism 7, 112 socialized entrepreneur 128 social justice 130 social responsibility 9 solving problems: of capitalism 170 – 4; capitalist ethics and 42 – 3; of financialization 71; “fixing” capitalism and 34, 72; of individuals, neoliberal 109 – 12; of institutions, neoliberal 89 – 92; of marketization 71; of neoliberal ethics 148 – 53; of neoliberal politics 70 – 2; of politics, neoliberal 70 – 2; of selfhood, neoliberal 128 – 31 sovereignty 40 – 1 Soviet Union breakup 11, 62, 118 “spatial fix” of capitalism 34 Spicer, A 107, 122 – 3 “spirit” of capitalism 35 spiritual fulfillment 101 Springer, S. 162 state authority 26 – 7; see also government Stavrakakis, Y. 124 Stehr, N. 126 Stiglitz, J 104 – 5 subjectification 35, 53, 137 subjection 35, 53, 137 subjective power of neoliberal ethics: background information 115 – 16; balance of work and life and 123; constructive deviance and 129; crisis culture and 117 – 18; entrepreneurship and 128 – 9; ethical neoliberal subject and, producing 124 – 8; failed identification and 124, 129 – 30; financial crisis (2008) and 117; free market fantasy and 119 – 20; hyper-capitalist order and 116, 119 – 20, 131; identity and, securing 122 – 4, 129 – 30; market rationality and 119 – 20; moralization of capitalism and 120 – 1; moral leader and 126; moral masochism and 127; moral subversion and 129; power relations and 131 – 3; pride and 130 – 1; problematization of neoliberal selfhood and 119 – 21; responsibility for neoliberal subject and 121 – 4; self-defining discipline and 132; self-improvement and 124 – 5, 131; solving problem of neoliberal selfhood and 128 – 31; subjective crisis of neoliberalism and 116 – 19 success, defining 15 sweatshop labor 128 Tarnaff, B. 152 Tea Party, rise of 101 tech start-ups 12 Tett, G. 58 Thatcher, M 4, 10, 43 – 4, 95, 97 top-down government regulation 151 – 2 Trevino, L K. 46 tribalism 147 Trump election (2016) 143, 145, 148 unemployed people 44 – 5, 56 UN Global Compact statement (2008) 82 urban and rural divide 104 urbanization 21 utopian spirit 4 – 5, 153, 169 – 70 Uzinidis, D. 128 van der Zwan, N. 57 “vice” lifestyle, new 142 – 3 von Mises, L. 8 wage labor 8, 21, 27, 32, 37, 124 Wall Street (film) 10 War on Terror 98 Washington Summit (2008) 82 “watchman” approach to government 5 – 6 Weber, M 23, 125 welfare and welfare state 43, 69, 138, 140, 156, 174 “wellness syndrome” 107 – 8 “whole person” concept 91 women’s liberation 44 work-life balance 3, 13 – 14, 87, 90 – 1, 100, 123, 141 workplace, humane 3 World Economic Forum report (2015) 151 xenophobia 105 Zakaria, F. 146 Žižek, A. 137 Žižek, S 121, 123 ... Business Rogene A Buchholz 12 The Ethics of Neoliberalism The Business of Making Capitalism Moral Peter Bloom The Ethics of Neoliberalism The Business of Making Capitalism Moral Peter Bloom First published... Power of Neoliberal Ethics 55 The Institutional Power of Neoliberal Ethics 75 The Personal Power of Neoliberal Ethics 95 The Subjective Power of Neoliberal Ethics 115 Fighting the Power of Neoliberal... Power of Neoliberal Ethics 135 9 The Ethics of Neoliberalism: The Business of Making Capitalism Moral 155 References Index 175 211 Acknowledgments I’m no longer accepting the things I cannot