Neoliberalism, Economization and the Paradox of the New Welfare State

Abstract This paper theorizes the nature of neoliberal social policy, making three substantial contributions. First, processes “economization” are identified as a central characteristic neoliberalism: economization constitutes “bridge” between Foucauldian and (neo-)Marxist accounts neoliberalism – two perspectives that in many respects hardly reconcilable because extending economic logic to non-economic areas (neoliberalism governmental rationality) also potentially increases profit-making opportunities previously uncommodified domains capitalist project). Second, links not only projects austerity welfare retrenchment but more generous “social investment” agenda. Third, highlights paradox whereby higher degrees associated with policy: “social” versions those ironically downplay logic, transforming policies into investments. The discusses problems related terms de-democratization.