The Politics Of Free Markets: The Rise of Neoliberal Economic Policies in Britain, France, Germany…

Paperback | July 17, 2006

byMonica Prasad

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The attempt to reduce the role of the state in the market through tax cuts, decreases in social spending, deregulation, and privatization—“neoliberalism”—took root in the United States under Ronald Reagan and in Britain under Margaret Thatcher. But why did neoliberal policies gain such prominence in these two countries and not in similarly industrialized Western countries such as France and Germany?

In The Politics of Free Markets, a comparative-historical analysis of the development of neoliberal policies in these four countries,Monica Prasad argues that neoliberalism was made possible in the United States and Britain not because the Left in these countries was too weak, but because it was in some respects too strong. At the time of the oil crisis in the 1970s, American and British tax policies were more punitive to business and the wealthy than the tax policies of France and West Germany; American and British industrial policies were more adversarial to business in key domains; and while the British welfare state was the most redistributive of the four, the French welfare state was the least redistributive. Prasad shows that these adversarial structures in the United States and Britain created opportunities for politicians to find and mobilize dissatisfaction with the status quo, while the more progrowth policies of France and West Germany prevented politicians of the Right from anchoring neoliberalism in electoral dissatisfaction.

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The attempt to reduce the role of the state in the market through tax cuts, decreases in social spending, deregulation, and privatization—“neoliberalism”—took root in the United States under Ronald Reagan and in Britain under Margaret Thatcher. But why did neoliberal policies gain such prominence in these two countries and not in simil...

Monica Prasad is assistant professor in the Department of Sociology at Northwestern University.

other books by Monica Prasad

The New Fiscal Sociology: Taxation in Comparative and Historical Perspective
The New Fiscal Sociology: Taxation in Comparative and H...

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Format:PaperbackDimensions:280 pages, 9 × 6 × 0.9 inPublished:July 17, 2006Publisher:University of Chicago PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0226679020

ISBN - 13:9780226679020

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Extra Content

Table of Contents

Preface
Introduction
1. Power to the Middle Classes: Entrepreneurs and Ideologues in the Reagan Revolution
2. Populist Revolutionary: Margaret Thatcher and the Transformation of the British State
3. Coalition Politics and Limited Neoliberalism in West Germany
4. France: Neoliberalism and the Developmental State
Conclusion
References
Index

Editorial Reviews

"Prasad's book makes an important contribution, and is worth reading by anyone interested in politics, policy-formation, neoliberalism and comparative-historical research. . . . A 'how-to' manual for conducting sophisticated comparative-historical data collection and analysis."