A Brief History Of Neoliberalism

David Harvey uses a specific form of analysis that differs from mainstream political economic theory to ground his argument about transformations in the global economy between 1970 and the mid-2000s. Harvey is a leading scholar in Marxist geography, a field that uses Marxist economic theory to understand how territories and their populations are controlled, developed, and changed over time vis-à-vis political economy. To understand the kinds of arguments Harvey makes in A Brief History of Neoliberalism, it is helpful to know how Marxist political economy differs from the mainstream theories of political economy that he critiques.

Political economy is a field of study that describes and analyzes how economic systems are governed by political systems (and vice-versa). It relies on elements from the fields of economics, political science, and history. Marxism is a normative form of political economic analysis that developed out of the writings of the philosopher Karl Marx (1818-1883). Marxism views capitalism as a struggle between the upper classes (those who possess the means of production, called capitalists) and the working classes (those who are paid for their labor) for power and wealth. It critiques capitalism because capitalists exploit the working classes in order to earn profits.