The End of Neoliberalism? The Response to COVID-19: An Australian Geopolitical Perspective

dela Rama, M; Lester, M

The End of Neoliberalism? The Response to COVID-19: An Australian Geopolitical Perspective

dela Rama, M

Lester, M

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Publisher:: Emerald Publishing Limited
Publication Type:: Chapter
Citation:: Contestations in Global Civil Society, 2022, pp. 79-95
Issue Date:: 2022

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Field	Value	Language
dc.contributor.author	dela Rama, M https://orcid.org/0000-0001-7879-4750
dc.contributor.author	Lester, M
dc.contributor.editor	Oberoi, R
dc.contributor.editor	Halsall, JP
dc.contributor.editor	Snowden, M
dc.date.accessioned	2022-01-13T01:58:35Z
dc.date.available	2022-01-13T01:58:35Z
dc.date.issued	2022
dc.identifier.citation	Contestations in Global Civil Society, 2022, pp. 79-95
dc.identifier.isbn	978-1-80043-701-2
dc.identifier.uri	http://hdl.handle.net/10453/153030
dc.description.abstract	The coronavirus (COVID-19) pandemic has arguably exposed the failures of neoliberalism and its political agenda over the past generation. The response has seen governments resurrect neo-Keynesian policies in order to address the weaknesses in the current market system and to mitigate the worst economic downturn since the Second World War (1939–1945). This chapter contextualizes the Australian perspective and the policy responses to the economic challenges posed by COVID-19. The authors contrast that with the experience of the USA and UK with whom the country shares common institutions and culture, including a generation of neoliberal economic reforms. By closing large sections of the economy, the Australian COVID-19 response provided extensive social welfare support and bailed out several sectors and industries. Previously unacceptable and unthinkable levels of budget deficit and country debt were incurred. This systemic state intervention into the economy raises the question of whether the pandemic signals the end of neoliberal era and its ramifications – or whether this neo-Keynesian pause was a kneejerk response to ensure and protect its legacy.
dc.format.extent	10
dc.language	en
dc.publisher	Emerald Publishing Limited
dc.relation.ispartof	Contestations in Global Civil Society
dc.relation.isbasedon	10.1108/978-1-80043-700-520221008
dc.rights	‘This chapter is (c-2022) Emerald Group Publishing and permission has been granted for this version to appear here (https://www.emerald.com/insight/content/doi/10.1108/978-1-80043-700-520221008/full/html). Emerald does not grant permission for this article to be further copied/distributed or hosted elsewhere without the express permission from Emerald Group Publishing Limited.'
dc.rights	info:eu-repo/semantics/embargoedAccess
dc.title	The End of Neoliberalism? The Response to COVID-19: An Australian Geopolitical Perspective
dc.type	Chapter
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
pubs.organisational-group	/University of Technology Sydney/Faculty of Business/Management Discipline
utslib.copyright.status	embargoed	*
pubs.consider-herdc	true
utslib.copyright.embargo	2024-05-30T00:00:00+1000Z
dc.date.updated	2022-01-13T01:58:34Z
pubs.place-of-publication	Bingley, UK
pubs.publication-status	In preparation
dc.location	Bingley, UK

Abstract:

The coronavirus (COVID-19) pandemic has arguably exposed the failures of neoliberalism and its political agenda over the past generation. The response has seen governments resurrect neo-Keynesian policies in order to address the weaknesses in the current market system and to mitigate the worst economic downturn since the Second World War (1939–1945). This chapter contextualizes the Australian perspective and the policy responses to the economic challenges posed by COVID-19. The authors contrast that with the experience of the USA and UK with whom the country shares common institutions and culture, including a generation of neoliberal economic reforms. By closing large sections of the economy, the Australian COVID-19 response provided extensive social welfare support and bailed out several sectors and industries. Previously unacceptable and unthinkable levels of budget deficit and country debt were incurred. This systemic state intervention into the economy raises the question of whether the pandemic signals the end of neoliberal era and its ramifications – or whether this neo-Keynesian pause was a kneejerk response to ensure and protect its legacy.

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http://hdl.handle.net/10453/153030